London's HSBC appoints new CEO

London's HSBC appoints new CEO

London-based HSBC on Thursday named John Flint, now head of its retail bank, as its new Chief executive, effective February 21.

Flint will succeed Stuart Gulliver as executive director and group chief executive upon Gulliver's retirement next year on 21 February.

Flint will form a new partnership at the top of HSBC with the bank's new chairman Mark Tucker, who assumed his role on October 1.

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

A married father of two, he will be paid a salary of £1.2 million per year (US$1.6 million, 1.3 million euros) but could earn many millions more based on the company's performance, the lender said in the statement. In addition to this, Flin's new contract predicts a long-term bonus of 215 per cent of its base salary and a 320 per cent annual bonus.

HSBC has named a new Chief Executive to replace the departing Stuart Gulliver.

According to Haberturk, Flint, which has been working in various stages of HSBC since 1989, has previously been chief of staff of Gulliver and experienced executive officer in seat of CEO.

'It has been my great privilege to lead HSBC as group CEO for the last seven years, Gulliver said.

"Stuart has led HSBC through a challenging and hard period with great energy and commitment and successfully reshaped the business strategy of the bank", Tucker said of Gulliver on Thursday. This includes the important work of putting in place global standards for identifying and preventing financial crime'.

Related Articles

  • Chester Bennington's Family Gives Blessing to Air Linkin Park's 'Carpool Karaoke' Segment

    Chester Bennington's Family Gives Blessing to Air Linkin Park's 'Carpool Karaoke' Segment

    The episode was filmed on July 14, only six days before Bennington's death , and was aired with the permission of his family. Linkin Park's Carpool Karaoke has been released in the memory of the band's late frontman, Chester Bennington .
    Microsoft Edge shock: Browser uses Apple's WebKit, Google's Blink

    Microsoft Edge shock: Browser uses Apple's WebKit, Google's Blink

    So in other words, Microsoft's Edge on iOS uses the Apple-championed WebKit , and Google's Blink on Android, to render pages. The launcher , which brings quick access to Microsoft's suite right from the homepage, is available in preview from today.
    Smith on top in Malaysia

    Smith on top in Malaysia

    Brendan Steele, coming off a victory last week at the Safeway Open, had an opening 67 to be three shots off the lead. Hideki Matsuyama, the 2016 runner-up, faltered with two bogeys to sit with Thomas in a tie for 23rd place.
  • FDA tells MA bakery to remove 'Love' from its ingredients label

    He says it's tapped into a feeling a lot of Americans have that the government can overreach, adding that it seems silly. Nashoba Brook isn't giving up on its granola, which is sold in around 120 stores in New England.
    Tokio Marine Asset Management Co. Ltd. Grows Position in Amazon.com, Inc

    Tokio Marine Asset Management Co. Ltd. Grows Position in Amazon.com, Inc

    Finally, Beaumont Financial Partners LLC lifted its position in shares of Amazon.com by 0.6% in the first quarter. (NASDAQ:AMZN). Amazon.com makes up approximately 1.8% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 19th biggest holding.
    Equifax investigating another possible hack

    Equifax investigating another possible hack

    Abrams told tech reporters at Ars Technica that he discovered the hack while using Equifax to dispute his own credit report. We are working diligently to better serve you, and apologize for any inconvenience this may cause.
  • Nubia Z17s With Bezel-Less Display And Four Cameras Launched In China

    Nubia Z17s With Bezel-Less Display And Four Cameras Launched In China

    The smartphone is driven by an octa-core Qualcomm Snapdragon 835 processor, clocked at 2.45GHz and topped with Adreno 540 GPU. The screen has an aspect ratio of about 17:9 and sports DCI-P3 wide colour gamut, with colour saturation of 96 percent.

    Seattle Genetics, Inc. (SGEN): Overbought Stock Of Yesterday

    Lord Abbett & Company decreased Hanesbrands Inc Com (NYSE:HBI) stake by 2.62M shares to 449,836 valued at $10.42M in 2017Q2. Kentucky-based Alphamark Advsrs Ltd Limited Liability Company has invested 0.09% in Altria Group Inc (NYSE:MO). (NYSE:VZ).
    Pakistan targets forward areas in Poonch

    Pakistan targets forward areas in Poonch

    The exchange of fire in Poonch's Khadi Karmara continued as reports last came in, the officials said. On October 6, Pakistani troops had opened fire in Baba Khori and other areas in Rajouri district.
  • Stock Indicator Focus for 22nd Century Group Inc. (XXII)

    Considering that the stock daily volume of 13.69 million shares, this represents a pretty noteworthy trading in volume size. Values of %D line that are above 80 indicate that the security is overbought; prices could well fall in the near future.
    Paris wants to phase out diesel cars by 2024

    Paris wants to phase out diesel cars by 2024

    The statement added that Paris officials would keep discussing the issue with residents and vehicle makers in the coming months. In September 2016, Paris authorities made a decision to close a 2.2- mile downtown road and transform it into a promenade.

    Precision Drilling Corporation (PDS) Now Covered by Deutsche Bank AG

    Quantbot Technologies LP acquired a new position in Precision Drilling Corporation during the first quarter worth $102,000. Finally, Pacad Investment Ltd. increased its position in shares of Precision Drilling Corp by 10.3% in the fourth quarter.