HSBC says CEO John Flint steps down, H1 pre-tax profit up 15.8% to $12.4 bn

HSBC on Monday said its Group Chief Executive John Flint had stepped down as the bank braces for geopolitical uncertainties.

The announcement came as the banking giant reported pre-tax profit was up 15.8 per cent at $12.4 billion for the first half of the year.   

Adjusted pre-tax profit also rose 6.8 per cent year-on-year to $12.5 billion, the bank said.

Flint's departure was revealed as HSBC said it was facing an "increasingly complex and challenging global environment".

"Although not carrying out his day-to-day duties after today, he (Flint) remains available to assist HSBC with the transition," the bank said in a statement.

 

Noel Quinn, head of the commercial banking division, will be interim CEO, the statement added.