On the opposite the bank has developed an organised plan to collect a head-hunter to replace the CEO, and the candidates may take from within or outside organisation. Noel will be supporting the process of transferring of the role of Group Chief Executive from the present to the future.
Aphoristically speaking, after 37 years with HSBC that Noel Quinn, its respected CEO since 2011, has decided to step down and retire. The campaign for successor has already started, and has not only brought forward identifiable internal talents but also external prospects. During this transition, Noel will continue to serve as Group Chief Executive, not only as a handover of the responsibilities is done, but as the cementing of the foundation.
It was in HSBC where Noel Quinn has been in-charge of their transformation process that has lasted for the past five years. As per the news issued on April 30th by the London-based bank, he will be stepping down from his role. He brought about unprecedented success from all points of view; profitability and return to shareholders climbed to the highest figures ever registered by the bank in more than a decade, which can be a good indicator of his leadership. In particular, she not only executed these measures but also commanded its branch divisions closure in both of Canada and Argentina.
The report of Quinn retires from HSBC, had the positive effect on investors; shares of HSBC trading in both Hong Kong and London were up. Now there are efforts to search for his successor and the bank is diligently watching who will be the most suitable from among the staff and from outside the agency. An interim position has been given to Quinn, who was the key person in transitioning the bank to Asia. This will be valid till the appointment of the next CEO.
Remising his long-standing career of about four decades Quinn had a sense of wonder and surprise at how he had finally reached the position of HSBC’s Group Chief Executive. As he bade goodbye, quinn has underscored the fundamental thing that person should know how to manage his time between work and life. And that person should not wait until the coast is clear, but just prepare and embark on the journey.
According to HSBC Chairmen Mark Tucker HSBC generous leadership of Quinn was pivotal to the success of the bank. With the help of Steve, the bank started its journey of transformation into simplicity and efficiency. Subsequently these things resulted in higher profits of the bank. Tucker was sure that there are bright prospect for HSBC and it is prepared to meet that challenge of continuous growth.
While all sorts of gossip starts centering around whom HSBC will hire to replace Quinn, the bank remains concentrated on the succession plan. Tucker was evasive about any particular candidates and again stressed that Goldman Sachs had already implemented framed in place leadership transition mechanism.
As Noel Quinn sets to a new era of his life, his contribution in the revolution HSBC has undergone becomes the legacy that will continue to keep the bank on the right track in the wake of a constantly changing financial landscape.
