HSBC CEO Noel Quinn to step down after five years in the role

CEO Retirement: Noel Quinn, the CEO of HSBC, is set to retire after five years in the role.
Reason for Retirement: Quinn states that he aims to achieve a better balance between his personal and business life and plans to pursue a portfolio career going forward.
Achievements: During his tenure, Quinn drove the bank’s transformation strategy and established a more focused business that delivers higher returns, according to HSBC chairman Mark Tucker.
Career Background: Quinn began his career at HSBC in 1987 and held various roles, including head of commercial finance for Europe and regional head of commercial banking for the Asia Pacific region. He previously served as the bank’s chief executive of global commercial banking.
Tenure as CEO: Quinn initially served as interim CEO in August 2019 following John Flint’s departure, and his position was made permanent in March 2020.
Successor Search: HSBC’s board has initiated a formal process to find Quinn’s successor, considering both internal and external candidates. However, Quinn will continue in his current role during the transition to ensure a smooth handover.