close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Business

AFP
August 5, 2019

HSBC says CEO Flint steps down, pre-tax profit up 15.8%

Business

AFP
Mon, Aug 05, 2019

HONG KONG: HSBC on Monday said its Group Chief Executive John Flint had stepped down as the bank braces for geopolitical uncertainties.

The announcement came as the banking giant reported pre-tax profit was up 15.8 percent at $12.4 billion for the first half of the year.

Adjusted pre-tax profit also rose 6.8 percent year-on-year to $12.5 billion, the bank said.

Flint´s departure was revealed as HSBC said it was facing an "increasingly complex and challenging global environment".

"Although not carrying out his day-to-day duties after today, he (Flint) remains available to assist HSBC with the transition," the bank said in a statement.

Noel Quinn, head of the commercial banking division, will be interim CEO, the statement added.