HSBC Group CEO Noel Quinn Announces Retirement

HSBC Group CEO Noel Quinn Announces Retirement

by April 30, 2024

HSBC Group’s Chief Executive Noel Quinn is set to retire, marking the end of a near five-year stint at the helm of the banking giant.

The bank said in a statement that it has achieved notable milestones, including record profits and robust returns, the strongest in over a decade under his leadership.

Quinn’s tenure saw significant strategic shifts, including the divestitures of HSBC’s operations in Canada and Argentina, which streamlined the bank’s focus. He had also championed sustainability initiatives at HSBC.

The search for Quinn’s successor is underway, with the board considering both internal and external candidates. Quinn will remain in his role to facilitate a smooth transition.

Mark Tucker

Mark Tucker

Mark Tucker, Chairman of HSBC said,

“The board would like to pay tribute to Noel’s leadership of the company. Noel has had a long and distinguished 37-year career at the bank and we are very grateful for his significant contribution to the group over many years.

 

He has driven both our transformation strategy and created a simpler, more focused business that delivers higher returns. The bank is in a strong position as it enters the next phase of development and growth.”

Noel Quinn

Noel Quinn

Noel Quinn said,

“It has been a privilege to lead HSBC. I never imagined when I started 37 years ago that I would have the honour of becoming Group Chief Executive of this great bank. I am proud of what we have achieved, and it has only been possible because of the talent, dedication, and commitment of the people at HSBC.

 

I want to thank them wholeheartedly and wish them continued success for the next stage of the journey. After an intense five years, it is now the right time for me to get a better balance between my personal and business life. I intend to pursue a portfolio career going forward.”