Noel Quinn reveals HSBC considered exit from US retail banking

The interim chief executive unveils a radical three-year restructuring plan that makes abundant strategic sense but carries plenty of execution risk.

The most surprising moment in HSBC’s announcement today of what interim chief executive Noel Quinn describes as “one of the deepest restructuring and simplification programmes in our history” came at the very start. 

It is usual for any bank’s annual results to be delivered by the chief executive and the chief financial officer.

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