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Surprise exit for CEO of HSBC

Aug 06, 2019 - Los Angeles Times
Board and Executive Moves

HSBC Holdings on Monday announced the surprise departure of Chief Executive John Flint after just 18 months, saying that new leadership was needed at the bank as economic uncertainty grows and that it was cutting 4,000 jobs to reduce costs.

HSBC said Flint stepped down by mutual agreement. Noel Quinn, the bank's CEO of global commercial banking, will serve as interim CEO while the bank looks for a permanent replacement.

Flint, 51, spent almost 30 years at the bank before he became CE...