HSBC Replaces Three Most Senior Executives as Green Steps Down
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HSBC Holdings Plc, Europe’s biggest bank, ended two-and-a-half weeks of speculation about who would succeed Stephen Green as chairman by replacing all three of its most senior executives.
Michael Geoghegan, chief executive officer for the past four years, will step down after missing out on the chairmanship. He will be replaced by investment banking chief Stuart Gulliver. Green, who quit on Sept. 7 to become U.K. trade minister, will be replaced by finance director Douglas Flint. Iain MacKay, an executive in the bank’s Asia-Pacific unit, will fill Flint’s job, HSBC said in a statement yesterday.