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Under Chief Executive Noel Quinn, HSBC navigated a global pandemic and a push by rebel investors to break up the 160-year bank. His surprise departure is an opportunity to accelerate its strategic pivot to Asia, investors say.
HSBC CEO Noel Quinn said it is "now the right time for me to get a better balance between my personal and business life."
HSBC on Tuesday said its chief executive, Noel Quinn, will retire after nearly five years at the helm.
HSBC Chief Executive Officer Noel Quinn is stepping down after nearly 5 years in the job. The board has begun a formal process to find a successor.
The bank is now searching for a successor to the veteran banker.
HSBC Holdings , on Tuesday said its chief executive, Noel Quinn, has decided to retire.
The company is reportedly shedding staff in its Hong Kong and Singapore investment-banking operations. This follows long, gloomy slides in the region's capital markets.
Max Kettner, HSBC chief multi-asset strategist, joins 'Money Movers' to discuss if a rate cut makes sense in this environment, the bifurcation between ECB and Federal Reserve policy, and more.
HSBC is laying off around a dozen of its Asia investment banking staff, a person with knowledge of the matter told Reuters on Tuesday.
A Hong Kong bank majority-owned by HSBC Holding has filed a liquidation petition against Times China, another instance of creditors seeking to recoup funds from developers amid China's protracted property slump.