Stock Market News

HSBC Chief Executive Quinn to retire

2024.04.30 00:45

HSBC Chief Executive Quinn to retire

By Selena Li and Lawrence White

HONG KONG (Reuters) -HSBC Chief Executive Noel Quinn will retire, it said on Tuesday, in a surprise departure from the bank that he has overhauled in the past five years through a sweeping series of asset sales across the globe.

The bank said has already launched a formal process to find a successor. Chief Financial Officer Georges Elhedery, appointed to the No. 2 role last January after a sabbatical before which he headed the bank’s markets business, is likely the leading internal candidate for the job.

The bank also reported pretax profit that came in at $12.7 billion for the quarter ended March versus $12.9 billion a year earlier, as it struggles to cope with rising costs from expansion in Asia and amid inflationary pressures. The results were better than the $12.6 billion average of analysts’ forecasts compiled by HSBC.

The London-headquartered bank also announced $3 billion worth of share buybacks on top of $2 billion in share purchases announced in February.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 69,473.61 0.48%
ethereum
Ethereum (ETH) $ 2,495.81 0.85%
tether
Tether (USDT) $ 0.999833 0.17%
bnb
BNB (BNB) $ 574.35 0.91%
solana
Solana (SOL) $ 166.31 0.83%
usd-coin
USDC (USDC) $ 1.00 0.11%
xrp
XRP (XRP) $ 0.511313 1.77%
staked-ether
Lido Staked Ether (STETH) $ 2,494.81 0.79%
dogecoin
Dogecoin (DOGE) $ 0.159254 0.34%
tron
TRON (TRX) $ 0.167232 0.11%
cardano
Cardano (ADA) $ 0.356278 2.77%
the-open-network
Toncoin (TON) $ 4.92 0.97%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,953.07 0.37%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 0.94%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,364.58 0.27%
avalanche-2
Avalanche (AVAX) $ 24.68 1.43%
weth
WETH (WETH) $ 2,495.99 0.84%
chainlink
Chainlink (LINK) $ 11.19 1.32%
bitcoin-cash
Bitcoin Cash (BCH) $ 347.08 0.47%
usds
USDS (USDS) $ 1.00 0.40%
leo-token
LEO Token (LEO) $ 6.07 0.39%
polkadot
Polkadot (DOT) $ 3.90 1.21%
sui
Sui (SUI) $ 1.93 0.46%
litecoin
Litecoin (LTC) $ 70.61 2.64%
near
NEAR Protocol (NEAR) $ 3.94 1.04%
aptos
Aptos (APT) $ 8.71 2.71%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,625.13 0.46%
uniswap
Uniswap (UNI) $ 7.43 4.93%
pepe
Pepe (PEPE) $ 0.000009 1.96%
internet-computer
Internet Computer (ICP) $ 7.83 0.92%
bittensor
Bittensor (TAO) $ 456.54 2.00%
dai
Dai (DAI) $ 0.999773 0.14%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.21 4.71%
kaspa
Kaspa (KAS) $ 0.115552 2.36%
monero
Monero (XMR) $ 155.87 1.56%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.06%
stellar
Stellar (XLM) $ 0.092419 0.13%
ethereum-classic
Ethereum Classic (ETC) $ 18.36 0.30%
whitebit
WhiteBIT Coin (WBT) $ 18.96 0.36%
first-digital-usd
First Digital USD (FDUSD) $ 0.998749 0.33%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.31676 0.56%
blockstack
Stacks (STX) $ 1.59 0.80%
okb
OKB (OKB) $ 38.08 0.24%
dogwifcoin
dogwifhat (WIF) $ 2.20 4.83%
aave
Aave (AAVE) $ 141.09 1.50%
filecoin
Filecoin (FIL) $ 3.47 0.61%
arbitrum
Arbitrum (ARB) $ 0.518133 2.40%
crypto-com-chain
Cronos (CRO) $ 0.07305 0.53%
mantle
Mantle (MNT) $ 0.576028 0.39%
optimism
Optimism (OP) $ 1.50 6.32%