HSBC says CEO Flint steps down, pre-tax profit up 15.8 pct | ABS-CBN

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

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

Agence France-Presse

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Updated Aug 05, 2019 08:18 AM PHT

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HSBC's building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London, Britain, August 8, 2018. Hannah McKay, Reuters

HONG KONG (UPDATE) - 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".

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"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.


© Agence France-Presse

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