HSBC Chooses Retail Head John Flint as Next CEO – Newspaper

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Britain’s Sunday Times newspaper said that HSBC wants to appoint John Flint, a company insider,  as its next chief executive and has approached regulators that are seeking their approval.

The paper, citing unnamed sources, said that the biggest bank of Europe has informed the Bank of England that it requires approval for Flint, who currently runs the retail and wealth management businesses of the lender, to take over from Stuart Gulliver.

HSBC did not respond immediately to a request for comment regarding this matter.

Gulliver has said that he plans to step down in 2018 and the appointment of his replacement is the first major decision that is facing the Mark Tucker, the new chairman of the bank, who assumed his post on October 1.

John Flint, who has no relation to Douglas Flint, the outgoing chairman, joined HSBC in 1989 and has worked in both the retail banking and investment banking sides of the bank, spending 14 years in Asia at the beginning of his career in HSBC.