HSBC CEO Quinn Unexpectedly Steps Down After Almost 5 Years
- Quinn says he wants a better personal, business life balance
- HSBC considering internal, external candidates to replace him
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HSBC Holdings Plc’s Chief Executive Officer Noel Quinn is stepping down, an unexpected move that comes as Europe’s largest lender tries to navigate the deterioration of ties between China and the US.
The board has begun a formal process to find a successor, and will consider both internal and external candidates, according to a statement Tuesday. Quinn will stay on during this process to ensure a smooth and orderly transition, it said.