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.”
Kansas takes control in the ninth and beats Kansas State in the opener of the Big 12 Tournament
Drilling of undersea tunnel of Guangzhou
Sky Pool links residential blocks in south London
China's Hubei launches first freight train via China
Kansas takes control in the ninth and beats Kansas State in the opener of the Big 12 Tournament
To work for a healthier and brighter future for humanity
Dow drops over 700 points to end below 30,000
Xi Presents Order to Promote Military Officers to Rank of General
What to expect in the California 20th District special election
Countries attempting to isolate Russia only hurt themselves: Putin
Police raid the headquarters of the Milan
China firmly opposes the ROK inviting the Taiwan authorities to the so