HSBC CEO John Flint resigns, Noel Quinn named interim CEO

HSBC announced its Group Chief Executive John Flint had resigned today, in less than two years of holding the CEO role in the company. It was a surprise as the banking giant revealed decent first-half profits. John Flint said that the bank required a change at the top to address “a challenging global environment”.

John Flint has been with HSBC from the last three decades and worked as CEO for nearly one-and-a-half years.

"In the increasingly complex and challenging global environment in which the bank operates, the board believes a change is needed to meet the challenges that we face and to capture the very significant opportunities before us," Group Chairman Mark Tucker said.

Flint said, "I have agreed with the board that today's good interim results indicate that this is the right time for the change, both for me and the bank."

HSBC announced the interim CEO Noel Quinn and it would be looking for new leader both internally and externally.

"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.