HSBC has announced that its CEO, Noel Quinn, will retire after five years leading the company. Quinn oversaw a series of asset sales globally, including retail banking businesses in the US and France, the entire Canadian subsidiary, and units in smaller markets. The bank has initiated a formal process to find a successor, with Chief Financial Officer Georges Elhedery being a leading internal candidate. During Quinn’s tenure, HSBC shares rose approximately 30%, reaching a nine-month high. The bank aims to complete the succession process by the second half of this year.
