John Flint named as HSBC's new chief executive, succeeding Stuart Gulliver

John Flint named as HSBC's new chief executive, succeeding Stuart Gulliver

Insiders or outsiders? That has been the debate raging around HSBC since it emerged early previous year that both Stuart Gulliver, its chief executive, and Douglas Flint, its chairman, would be leaving the bank in quick succession.

Flint, who now runs HSBC's retail and wealth management business, will start in his new role on Feb 21 2018, taking over from current chief executive Stuart Gulliver, who is retiring after seven years in the job.

Flint says he's "humbled by the responsibility".

"He has a great understanding and regard for HSBC's heritage, and the passion to build the bank for the next generation", Tucker said in a statement. HSBC, founded in Hong Kong and Shanghai in 1865, sees its current focus firmly in Asia, although it has been based in Britain since 1992.

In August a year ago HSBC abandoned a timetable for achieving that target, as increased regulatory requirements on capital, low interest rates and rising competition from low-cost competitors pressure lenders' profits worldwide. Profits rebounded in the first half of this year.

Man attacked during Charlottesville rally turns himself in
Mr Harris's lawyer, S Lee Merritt, said his client did nothing wrong and authorities did not have probable cause to prosecute him. Steve Upman, a spokesman for police in Charlottesville, said Goodwin is charged with malicious wounding in the August 12 beating.

Breaking down Yankees-Astros: How big an edge is Girardi?
Rounding out the Yankees rotation are Masahiro Tanaka (13-12, 4.74 ERA), Luis Severino (14-6, 2.98) and CC Sabathia (14-5, 3.69). Had Cleveland beaten the Yankees, the Indians would have had the home-field advantage from owning the best record in baseball.

Italian dog owner wins sick pay for looking after pet
They cited an allowance for absences that can be categorized as "serious or family personal reasons", The Guardian writes. An Italian librarian has won the right to use her family sick pay to look after her dog who is recovering from cancer.

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.

"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.

Flint will earn a base salary of £1.2 million ($1.58 million), a fixed pay allowance of £1,700,000 and a pension allowance of £360,000.

But in 2015, HSBC was forced to apologize for "unacceptable" failings at its Swiss division following allegations that the unit helped rich clients hide billions from the taxman.

Related Articles

  • Traders Secrets on Axalta Coating Systems Ltd. (AXTA), Pepsico, Inc. (PEP)

    Traders Secrets on Axalta Coating Systems Ltd. (AXTA), Pepsico, Inc. (PEP)

    Also, it has an estimated price-earnings (P/E) multiple of 8.02 and a trailing 12-month price-earnings (P/E) multiple of 2.96. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry.
    Four players included in former Liverpool defender's Premier League team of 2017

    Four players included in former Liverpool defender's Premier League team of 2017

    The latter Carragher believes will be a future Player of the Year victor following his impressive start to the season. United's main man has racked up 7 goals , closely followed by Morata, Aguero, and Harry Kane with 6 goals .
    Most pro sports teams have stopped staying at Trump hotels

    Most pro sports teams have stopped staying at Trump hotels

    Citing team policy, the Pelicans said Thursday that they don't reveal hotel plans for security purposes. Seventeen teams stayed at a Trump hotel within the past seven years, according to the report .
  • Aussie Smith leads CIMB Classic

    Aussie Smith leads CIMB Classic

    Smith shot an error-free 64 with five birdies on front nine and three on back nine. "The putting was easy actually", Smith said. If Justin Thomas is going to win his third straight CIMB Classic, he's got some work to do.
    Netflix's She's Gotta Have It Official Trailer

    Netflix's She's Gotta Have It Official Trailer

    But there's a almost unnoticeable adjustment there - the new Netflix trailer dubs Lee when he says "film" with the word "show". She's Gotta Have It premieres on Thanksgiving Day, and is directed entirely by Spike Lee .
    XL Group reveals $1.48bn Q3 cat loss

    XL Group reveals $1.48bn Q3 cat loss

    Markel's estimate is preliminary and dependent on broad assumptions about coverage, liability and reinsurance. The estimated losses are approximately evenly split between XL Group's insurance and reinsurance units.
  • AT&T keep FY guidance, despite decline in video subscribers during Q3

    This will result in 97,000 additional prepaid net adds in the quarter with a corresponding decline in connected device net adds. AT&T says it expects further reductions spilling into Q4.

    Gunman opens fire at Swedish marketplace

    A huge police operation has been launched and the area around where the drama unfolded has been cordoned off. Local news outlet Sydsvenskan reported that eight ambulances had been sent to the scene.
    Epic Pursues Cheating Players In Fortnite Battle Royale

    Epic Pursues Cheating Players In Fortnite Battle Royale

    They said that they have made a decision to respond to growing concerns about the similarities between the two games. The game also peaked at 525,000 concurrent players on Monday , with 3.7m active users on that day alone.
  • NY voter registration deadline Friday for 2017 election, 2018 primaries

    NY voter registration deadline Friday for 2017 election, 2018 primaries

    Every signature will be compared to the voter's registration record, to ensure the correct person has marked the ballot. The budget will be presented to the Ashtabula County Board of Commissioners at an October 23 work session.
    Fire set, employees injured during attempted prison escape in Elizabeth City

    Fire set, employees injured during attempted prison escape in Elizabeth City

    Six patients involved with the incident are being treated at the Sentara Albemarle Medical Center, a spokesperson told WTKR . Calls to Correction Enterprises and the Department of Public Safety Thursday weren't immediately returned.
    Bengals' Tyler Eifert To Undergo Season-Ending Back Surgery

    Bengals' Tyler Eifert To Undergo Season-Ending Back Surgery

    Bengals TE Tyler Eifert will undergo season-ending back surgery, ESPN's Adam Schefter tweeted Wednesday night. When healthy, Eifert can be a solid receiver, especially inside the red zone.