HSBC CEO Noel Quinn.
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HSBC Group chief executive Noel Quinn has unexpectedly left the company after almost five years at the helm, it was announced on Tuesday.
In a statement released by the bank, Quinn said:
“It is a privilege to lead HSBC. When I started 37 years ago, I never imagined I would have the privilege of becoming Group CEO of this great bank. I am proud of what we have achieved and it is I would like to express my sincere gratitude to HSBC employees for their talent, dedication and commitment and wish them continued success in their next phase of achieving a better balance between their personal and business lives.
Quinn was first appointed as interim CEO in August 2019 and officially led HSBC in March 2020.
The bank’s London-listed shares have risen more than 30% since he became chief executive.
Shares in HSBC rose 3.6% at 11:04 a.m. London time on Tuesday after the bank also announced first-quarter profits that beat expectations.
Mark Tucker, the bank’s chairman, paid tribute to Quinn’s leadership. “He has driven our transformation strategy and created a simpler, more focused business that delivers higher returns,” Tucker said in a statement. “The bank is well-positioned as it enters its next phase of development and growth. .
HSBC said the search for its next chief executive has begun and that Quinn will stay on during the process.
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