Published: Fri, October 13, 2017
Finance | By Loren Pratt

The new CEO of HSBC has been announced! Here's the salary

The new CEO of HSBC has been announced! Here's the salary

Flint, who now runs HSBC's retail and wealth management business, will start in his new role on Feb 21 2018, taking over from current chief executive Stuart Gulliver, who is retiring after seven years in the job.

London-based HSBC on Thursday named John Flint, now head of its retail bank, as its new Chief executive, effective February 21.

Flint says he's "humbled by the responsibility".

While the bank has made money every year under Gulliver, legal costs tied to HSBC's misconduct also soared. "Over the coming months, before he formally takes over the CEO role from Stuart, we will be working closely together to develop and agree the key actions required to ensure we build on and enhance HSBC's current momentum", HSBC chairman Mark Tucker said in a statement. Profits rebounded in the first half of this year.


Gulliver has meanwhile said that HSBC would likely switch 1,000 jobs to Paris from London owing to Britain's eventual departure from the European Union.

During Stuart Gulliver's reign, Flint had reshaped Europe's largest bank to sell assets and shift resources to Asia after great penalties. Flint will be owner of a pension allowance of £360 million in new office, as well as a net base salary of £$1.2 and £1.7 million in fixed allowance.

But in 2015, HSBC was forced to apologize for "unacceptable" failings at its Swiss division following allegations that the unit helped rich clients hide billions from the taxman. HSBC employs more than 230,000 staff worldwide.

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