HSBC undergoes yet another overhaul. It still may not be enough
Europe’s largest bank has a new strategy—but no permanent boss
LAST AUTUMN the board of HSBC asked Egon Zehnder, an executive-search firm, to find it a new chief executive. The bank had fired John Flint in August, after 18 months in the job, for being too shy about pursuing profits. HSBC then dodged the decision, appointing Noel Quinn, a no-nonsense insider, only on an interim basis. Mr Quinn soon made it clear he wanted the job permanently. He seemed a shoo-in.
This article appeared in the Finance & economics section of the print edition under the headline “The incredible shrinking bank”
Finance & economics February 22nd 2020
- The Bundesbank is caught between a doveish ECB and a suspicious public
- Are there too many central bankers?
- HSBC undergoes yet another overhaul. It still may not be enough
- Michael Milken receives a presidential pardon
- The appeal, and the flaws, of cash-based accounting
- Cash sloshes around the world in unexpected ways
- Student debt in America amounts to over $1.5trn
- Covid-19 presents economic policymakers with a new sort of threat
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