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1-min read

HSBC Bank CEO John Flint Steps Down, Pre-Tax Profit up 15.8%

Flint's departure was revealed as HSBC said it was facing an 'increasingly complex and challenging global environment'.

AFP

Updated:August 5, 2019, 9:46 AM IST
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HSBC, Money Laundering, AI
The HSBC headquarters in London. (Image for representation only. Photo: Reuters)

Hong Kong: HSBC on Monday said its Group Chief Executive John Flint had stepped down as the bank braces for geopolitical uncertainties.

The announcement came as the banking giant reported pre-tax profit was up 15.8 per cent at $12.4 billion for the first half of the year.

Adjusted pre-tax profit also rose 6.8 per cent year-on-year to $12.5 billion, the bank said.

Flint's departure was revealed as HSBC said it was facing an "increasingly complex and challenging global environment".

"Although not carrying out his day-to-day duties after today, he (Flint) remains available to assist HSBC with the transition," the bank said in a statement.

Noel Quinn, head of the commercial banking division, will be interim CEO, the statement added.

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