HSBC Holdings PLC has appointed Noel Quinn as chief executive officer, handing t...
) has appointed Noel Quinn as chief executive officer, handing the insider and interim boss the reins of Europe’s biggest bank and ending months of speculation an external candidate could get the role.
The bank makes 90% of its profits in Asia, and the sharp economic downturn in its main markets of Hong Kong and China are also expected to dent its revenues and asset quality in the near to medium term. “Noel has proven to be the outstanding candidate to take on a role permanently that he has performed impressively on an interim basis since August 2019,” Tucker said in a statement on Tuesday.
Tucker defied market expectations that the bank would name Quinn or an outsider to the role when it presented its full year results and new strategy in February, leaving the interim CEO in limbo and in charge of a plan he might not be around to execute.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Subscription Payments Ecosystem Report from Business Insider - Business Insider[NEW REPORT] The Subscription Payments Ecosystem: BIIntelligence sizes up the current subscription payments opportunity — and what's driving its growth
Read more »
Tech investors warn of recession's impact on startup funding and growth - Business Insider'A recession is inevitable': European investors and startups brace for cash drought and lower valuations amid coronavirus slowdown
Read more »
Amazon 100000 new hires and pay raise amid coronavirus - Business InsiderAmazon is hiring an additional 100,000 warehouse workers and raising pay as the coronavirus causes an 'unprecedented' increase in demand for this time of year
Read more »
US tourist attractions, once-crowded places emptied amid coronavirus - Business InsiderMajor US attractions including Disneyland and the Smithsonian museums have closed down as the country rushes to contain the spread of the coronavirus.
Read more »
Ben Horowitz: 10 ways to be a wartime CEO as ecession looms - Business InsiderBen Horowitz says that a wartime CEO steering a company through an existential crisis requires a radically different management style
Read more »
Fashion shows and events canceled amid the coronavirus pandemic - Business InsiderItaly went under a complete nationwide lockdown in an attempt to curb the spread of coronavirus — and Milan, its fashion capital, is suffering.
Read more »