6th Feb 2020 06:47
(Alliance News) - HSBC Holdings PLC won't name a permanent new chief executive until after the announcement of its annual results on February 18, the Financial Times reported late Wednesday.
The Asia-focused bank at the same time will unveil details of the strategic plan being crafted by Interim CEO Noel Quinn. This will involve at least 10,000 job losses and a reduction of HSBC's investment bank, the newspaper noted.
Quinn will not be confirmed on or before February 18, and the search for a permanent successor to John Flint, who left in August last year, is still in progress, the FT reported, citing four people briefed on HSBC's plans. One said Quinn is the only internal candidate and is "not out of the race", according to the FT. It said HSBC declined to comment.
https://www.ft.com/content/591c38d6-483d-11ea-aee2-9ddbdc86190d
By Tom Waite; [email protected]
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