Money John Flint named new HSBC chief executive

01:01  13 october  2017
01:01  13 october  2017 Source:   Press Association

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- HSBC has appointed John Flint as its new chief executive , replacing the long-standing Stuart Gulliver. Mr Flint , who currently heads up retail banking and wealth management at the lender, will take up the role on February 21.

HSBC has appointed John Flint as its new chief executive , replacing the long-standing Stuart Gulliver. Mr Flint , who currently heads up retail banking and wealth management at the lender, will take up the role on 21 February.

File photo dated 05/02/13 of a sign outside an HSBC branch, as the bank has moved a step nearer to establishing its UK ring-fenced business after being granted a banking licence by the regulators, the Press Association understands.: HSBC sign © Provided by The Press Association HSBC sign

HSBC has appointed John Flint as its new chief executive, replacing the long-standing Stuart Gulliver.

Mr Flint, who currently heads up retail banking and wealth management at the lender, will take up the role on February 21.

His appointment will see Mr Gulliver end a seven year stint at the banking giant when he retires.

Chairman Mark Tucker, who led the search for a new chief executive, said: “John has broad and deep banking experience across regions, businesses and functions.

“He has a great understanding and regard for HSBC’s heritage, and the passion to build the bank for the next generation.

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John Flint , the new chief executive of HSBC . Born in Yorkshire and educated at Dhahran Academy and Giggleswick School, Mr Flint is an HSBC veteran and joined the lender as an international officer in 1989.

John Flint , the new chief executive of HSBC . Born in Yorkshire and educated at Dhahran Academy and Giggleswick School, Mr Flint is an HSBC veteran and joined the lender as an international officer in 1989.

“Through the search process, John has developed with myself and the board a clear sense of the opportunities and priorities that lie ahead.”

Mr Flint said he is “humbled by the responsibility” and excited by the opportunity to head HSBC.

Under Mr Gulliver’s tenure, the bank has had to grapple with a series of misconduct issues and has paid billions in fines, including for links to Mexican drugs cartels.

However, the bank chose to focus on Mr Gulliver’s work in preventing financial crime and its dividend performance.

Mr Tucker added: “Stuart has led HSBC through a challenging and difficult period with great energy and commitment and successfully reshaped the business strategy of the bank.

“This includes the important work of putting in place global standards for identifying and preventing financial crime.

“Since January 2011 the bank has paid 60.7 billion dollars in dividends, announced an additional 5.5 billion dollars of share buybacks, and delivered a total shareholder return of 66.8%. This is an outstanding track record.”

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