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.
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