HSBC appoints John Flint as Group Chief Executive

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By 2017-10-13

HSBC Holdings PLC Chief Executive of Retail Banking and Wealth Management, John Flint, will succeed Stuart Gulliver as Executive Director and Group Chief Executive, stated a press release. This will be effective from 21 February 2018, after Stuart steps down from both roles and retires from HSBC.

Group Chairman Mark Tucker, who led the search to identify Stuart's successor, said:

"John has a broad and deep banking experience across regions, businesses and functions. He has great understanding and regard for HSBC's heritage, and the passion to build the bank for the next generation. Through the search process, John has developed, with myself and the Board, a clear sense of the opportunities and priorities that lie ahead. Over the coming months, before he formally takes over the Group CEO role from Stuart, we will be working closely together to develop the key actions required to ensure we build on and enhance HSBC's current momentum," added the release.

John said, "I am humbled by the responsibility and excited by the opportunity to lead HSBC as Group CEO. The bank is well-positioned for the future, but we must continue to innovate and accelerate the pace of change required to meet the expectations of our shareholders, customers, employees and society at large. I'm looking forward to working with Mark, the Board and over 230,000 colleagues around the world to make this great bank even better."

Commenting on Stuart's retirement, Mark said, "Stuart has led HSBC through a challenging and difficult period with great energy and commitment, successfully reshaping the business strategy of the bank. I would like to thank him on behalf of the Board for everything he has done for HSBC. This includes the important work of putting global standards in place for identifying and preventing financial crime. Since January 2011 the bank has paid US$ 60.7 billion in dividends, announced an additional US$ 5.5 billion of share buybacks, and delivered a total shareholder return of 66.8%. This is an outstanding track record." The release concluded with Stuart commenting, "It has been my great privilege to lead HSBC as Group CEO for the last seven years. My primary role as Group CEO is stewardship and to hand the company to my successor in better shape than when I started. After the most extensive restructuring of the bank in its history and a relentless focus on meeting the evolving expectations of society, I am confident HSBC is in better shape than it was seven years ago. I know that with Mark and John leading the organization, it is in great hands."

John Flint joined HSBC as an International Officer in October 1989. He spent the first 14 years of his career with HSBC in Asia helping to establish and expand the HSBC Global Markets business in the region before moving back to London in 2004. He has represented the Group in Hong Kong, Singapore, Indonesia, Thailand, India, Bahrain, the United States and the United Kingdom.
In 2006, Flint was appointed Group Treasurer and assumed global responsibility for balance sheet management. In 2008 he added the roles of Deputy Head of Global Markets and Head of Global Markets, Europe, Middle East and Africa.

In 2010 Flint was appointed Chief Executive of HSBC Global Asset Management. In January 2012 he became Chief of Staff to the Group Chief Executive of HSBC and Group Head of Strategy and Planning. He was appointed a Group Managing Director in January 2013 and Chief Executive of Retail Banking and Wealth Management (RBWM).

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