HSBC announced on Monday Chief Executive Officer John Flint’s resignation after 18 months in the position, saying it’s all part of the company’s effort to fight challenging global environment.
Known as the biggest bank in Europe, HSBC is now in the midst of changing things up following a struggle against market plagues including the US-China trade conflict, no-deal Brexit, and policy cycle issues.
Mark Tucker, one of the bank’s executives, stated that the board decided to make a change as needed to cope with the increasingly complex and challenging global environment.
The Hong Kong mass protests compounded to the minor slump of the European bank recently despite posting a 16% rise in mid-year profit.
Before his appointment as CEO in 2018, Flint was in the retail and wealth management side of things in HSBC.
John Flint, 51, has been with HSBC in the last two decades.
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