The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Is Flint the man for HSBC?

HSBC’s next chairman will tell you everything you need to know about the bank’s future.

 
Stephen Green

The announcement that Bob Diamond will take over as chief executive of Barclays – probably the least surprising piece of news of the past three years to many in the banking industry – dominated the headlines in the UK today, even in the mainstream media. But there was a much more intriguing announcement today: the news that Stephen Green is stepping down as executive chairman of HSBC from the start of next year.

Green’s departure to pastures new is no immediate surprise. His future role as a minister in the UK’s coalition government makes sense as well. Green has always been careful to communicate his strongly-held convictions that capitalism must have a caring side. This would no doubt appeal to bank-bashing business secretary Vince Cable.

The breaking of the story this morning seemed to catch HSBC on the hop. The bank issued its statement at around 13.00BST today. Green was leaving, as the wires had suggested, but there was no information about how he would be replaced. It was, perhaps, a painful lesson that Whitehall is much more leak-ridden than Wall Street or Canary Wharf.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree