HSBC chief executive steps down

Noel Quinn replaces John Flint in interim

HSBC has announced its group chief executive John Flint is stepping down after less than a year-and-a-half on the job in a surprise move.

Noel Quinn, who has been head of the global commercial banking unit since 2015, has been appointed interim group chief executive and as a director of HSBC Holdings. The board has begun the search for a new group chief executive and is considering both internal and external candidates. HSBC said that while Flint will not continue with his day-to-day duties after today, he will assist HSBC with the transition. Flint left "by mutual agreement with the board", the bank said. Mark Tucker, group chairman of HSBC, said: "On behalf of the board, I would like to thank John for his person...