After Flirting With Outsiders, HSBC Taps Interim Noel Quinn as CEO
- Seven-month search ends where it started in Quinn pick
- He will have to deal with coronavirus fallout and bank’s costs
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With markets melting down and the global economy headed toward recession, HSBC Holdings Plc picked a known quantity to lead it through the mayhem.
Noel Quinn, a 33-year-veteran of the lender and interim chief executive officer for the past seven months, was named to the post full-time minutes after the British government announced a “wartime” spending effort to counter the coronavirus. The lender gained 1.6% as of 9:43 a.m. in Hong Kong, while the benchmark Hang Seng Index was flat.