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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings    HSBA   GB0005405286

HSBC HOLDINGS (HSBA)
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HSBC : names new boss as Stuart Gulliver nears retirement

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10/12/2017 | 02:31pm CET

HSBC says John Flint will succeed its chief executive of seven years, Stuart Gulliver, next year.

Europe's largest bank, which is based in London, said Mr Gulliver would retire on 21st February to be replaced by the HSBC veteran, who currently heads its retail banking and wealth management divisions.

Chairman Mark Tucker, who led the search, said: "John has broad and deep banking experience across regions, businesses and functions.

"He has a great understanding and regard for HSBC's heritage, and the passion to build the bank for the next generation.

"Through the search process, John has developed with myself and the board a clear sense of the opportunities and priorities that lie ahead."

Mr Flint, who joined HSBC in 1989 and has held senior positions in Asia and Europe previously, said he was "humbled by the responsibility".

He will take over the bank following a period of regulatory turmoil for the sector - with HSBC no stranger to the controversy.

It has had to grapple with a series of misconduct issues and paid billions in fines in the process.

Mr Tucker paid tribute to Mr Gulliver's stewardship, saying: "Stuart has led HSBC through a challenging and difficult
period with great energy and commitment and successfully reshaped the business strategy of the bank.

"This includes the important work of putting in place global standards for identifying and preventing financial crime.

"Since January 2011 the bank has paid 60.7 billion dollars in dividends, announced an additional 5.5 billion dollars of share buybacks, and delivered a total shareholder return of 66.8%. This is an outstanding track record."

(c) Sky News 2017: <a href="http://news.sky.com/story/hsbc-names-new-boss-as-stuart-gulliver-nears-retirement-11077394">HSBC names new boss as Stuart Gulliver nears retirement</a>, source Sky News

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Financials ($)
Sales 2017 51 834 M
EBIT 2017 18 845 M
Net income 2017 11 717 M
Debt 2017 -
Yield 2017 4,75%
P/E ratio 2017 18,34
P/E ratio 2018 15,46
Capi. / Sales 2017 4,14x
Capi. / Sales 2018 3,95x
Capitalization 214 B
Chart HSBC HOLDINGS
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HSBC Holdings Technical Analysis Chart | HSBA | GB0005405286 | 4-Traders
Technical analysis trends HSBC HOLDINGS
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 22
Average target price 10,3 $
Spread / Average Target -3,7%
EPS Revisions
Managers
NameTitle
Stuart Thomson Gulliver Group Chief Executive Officer & Executive Director
Mark Edward Tucker Group Chairman
Andrew Maguire Group Chief Operating Officer
Iain James Mackay Group Finance Director & Executive Director
Darryl West Chief Information Officer
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