HSBC CEO resigns due to "challenging global situation"

HSBC chief executive John Flint has stepped down after the bank and left the Board of Directors.

Report informs citing the Interfax that Flint was promoted to CEO in February 2018 and has worked at the banking giant for 30 years.

The Bank explained the need to replace management with the "increasingly complex and challenging global environment" in which the bank operates.

“I have agreed with the board that today’s good interim results indicate that this is the right time for change, both for me and the bank” Flint said.

HSBC will be temporarily headed by Noel Quinn,who has been head of its Global Commercial Banking unit since 2015. He has been working in the company for 32 years.