HSBC, Europe’s largest bank, says that CEO Noel Quinn plans to retire after serving nearly five years in the post.
“After an intense five years, it is now the right time for me to get a better balance between my personal and business life. I intend to pursue a portfolio career going forward,” Quinn said in a statement on Tuesday.
Quinn has worked at HSBC since 1987. As CEO, he helped with the sale of its Canada and Argentina operations and oversaw the bank’s strongest returns in more than a decade.
In 2021, HSBC said that it was closing its U.S. retail banking business in order to refocus its efforts on wealth management. London-based HSBC is one of the world’s biggest banks, but its focus is primarily in Hong Kong, where it was founded, and elsewhere in Asia, and in the U.K. and Europe.
“Noel has had a long and distinguished 37-year career at the Bank and we are very grateful for his significant contribution to the Group over many years,” Chairman Mark Tucker said. “He has driven both our transformation strategy and created a simpler, more focused business that delivers higher returns. The bank is in a strong position as it enters the next phase of development and growth.”
Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
China's golden week glitters with booming tourism, cultural consumption
Mom, 28, forced to sell her dream car after forking out $40,000 in INTEREST alone over three years
Maui Fire Department to release after
Amir Khan's £11.5m luxury wedding venue finally hosts its first marriage: Bride arrives on horse
Guardiola reveals fresh Man City injury blow
TikTok users are sent into a frenzy over 'missing' conspiracy theorist
Ancelotti calls for courage, personality vs. Man City
I was 'brokefished' by my friend for £400
Guardiola reveals fresh Man City injury blow
Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
Eberl ringing alarm bells for Bayern ahead of Arsenal duel