HSBC chooses an “insider” as the new boss




A man of the house to help the first european bank in terms of assets to negotiate the delicate turn of the Brexit : the next executive director of HSBC will be a pure product house, John Flint, age 49, who works for the first british bank since 28 years. The name of the current director of the retail banking and wealth management, has been submitted to the Bank of England, which must approve his appointment, according to information from the Sunday Times, which cites sources from the City.

John Flint will replace Stuart Gulliver, who had announced as early as 2016 as it was to start in 2018, after seven years at the helm. At that time, the name of Henri de Castries, the ex-boss of Axa, who is an independent director of HSBC, appeared as one of the serious candidates for the position. The French businessman has since joined the fund, General Atlantic.

Relocate 1,000 jobs in Paris

One of the first tasks of John Flint will be operational for the relocation, announced by Stuart Gulliver, of 1,000 jobs in Paris within the context of the Brexit. The former Hongkong and Shanghai Banking Corporation has in France a licence full year since its acquisition in 2002 of the CCF (Credit commercial de France).

The future boss of HSBC knows from the inside the british bank. He has worked 14 years in Asia, in the activities of markets. He has held various positions including those of treasurer, responsible for asset management and director of cabinet of the director-general.

This choice of successor Stuart Gulliver is the first decision of the all-new non-executive chairman of the board Mark Tucker, officially in office since 1st October, came himself from the outside : he has been boss of the insurer Prudential and american AIA in Asia.

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