He HSBC Holdings Plc CEO Noel Quinnwill leave his position unexpectedly and the lender has started looking for a successor.
The board began a formal process to find a successor, considering both internal and external candidates, according to a statement released this Thursday, April 29. Quinn will remain at HSBC during this process for ensure an orderly transition and without problems, he said.
During his tenure at HSBC, Quinn led a series of reviews strategic initiatives that culminated in a plan to boost the bank’s investment in its Asian business, while reduced it in developed Western markets like the United States and France.
Quinn was named permanent CEO in March 2020, after having run the bank for several months following the overthrow of his predecessor John Flint, who resigned in August 2019.
Quinn began his banking career at the British lender Midland Bank in 1987, which HSBC bought in 1992. He spent most of his career at HSBC working for the commercial banking unit, which he ran for several years before being tapped by President Mark Tucker to replace Flint.
