change-of-scene-head-hunting

London-based bank HSBC says John Flint will be its new chief executive, replacing the retiring Stuart Gulliver.

The bank says in statement Thursday that Flint, who currently heads up retail banking and wealth management, will take the job on February 21, 2018.

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Chairman Mark Tucker says Flint has “great understanding and regard for HSBC’s heritage, and the passion to build the bank for the next generation.”

Flint adds he’s “humbled by the responsibility.” He has represented the group in Hong Kong, Singapore, Indonesia, Thailand, India, Bahrain, the U.S. and the U.K.

HSBC is carrying out a sweeping overhaul to increase profitability. That includes shedding thousands of workers and exiting some markets in order to focus even more on Asia.

Originally published on Advisor.ca
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