Profile: the new CEO of HSBC, John Flint
John Flint has been appointed as HSBC's new Group Chief Executive Officer and will take up the role next February.
He replaces Stuart Gulliver, who will step down and retire from Europe's biggest bank - but what makes Flint the perfect individual to fill Gulliver's shoes?
Not many industry leaders will have been more qualified than John Flint to take over as HSBC's CEO.
Flint, an Economics graduate from Portsmouth Polytechnic, has been at the company since 1989 and initially travelled to work in some of the bank's offices around the world, including in Bahrain and India.
He spent two years as Head of Global Markets in Indonesia before undertaking a number of roles in Global Markets head office in Hong Kong.
For two years between 2004 and 2006, he was Head of Balance Sheet Management for EMEA ahead of becoming Group Treasurer.
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Executive roles followed before he started his most recent role in 2013 as Chief Executive of the bank's Retail Banking and Wealth Management division.
Flint will have a base salary of £1.2mn and will also carry the title of Executive Director, while Gulliver will take full retirement from the company in October 2018.
“I am humbled by the responsibility and enormously excited by the opportunity to lead HSBC as Group CEO," said Flint. "The bank is very well-positioned for the future but we must continue to innovate and accelerate the pace of change required to meet expectation."
Group Chairman Mark Tucker added: "John has a great understanding and regard for HSBC’s heritage, and the passion to build the bank for the next generation.
"Through the search process, he has developed with myself and the Board a clear sense of the opportunities and priorities that lie ahead."
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