Flint named HSBCs new chairman

By Kim Jae-won

Douglas Flint, HSBC Holdings’ financial chief, will succeed Stephen Green as HSBC Holdings chairman, with Stuart Gulliver, chief of operations in global business, having been appointed as the next CEO.

Current CEO Michael Geoghegan is retiring, HSBC’s Seoul office said Sunday, relaying a press release from the group’s headquarters in London.

Green is stepping down as chairman to become Britain’s minister of state for trade and investment.

“It is a privilege and I am deeply honored to become chairman of HSBC,” Flint said in the statement. “Our industry is in the midst of fundamental change which will define how banks operate. At the same time we need to restore trust in the banking industry by learning from mistakes made in recent years.”

“HSBC is committed to contributing in every way it can to this process. I am particularly indebted to Stephen and Mike for all they have done for HSBC during their tenure and am looking forward to working with Stuart in our new roles.”