HSBC (HSBA.L) just unveiled another new banking boss, just days after CEO John Flint stepped down after 30 years at the major bank.
The group, one of the world’s largest lenders, announced Barry O'Byrne as interim head of its global commercial banking division, after his predecessor Noel Quinn took over from Flint — also in an interim capacity.
O'Byrne will also join HSBC’s group management board, which is subject to regulatory approval. He has taken up the position after initially joining the bank in 2017 as group general manager and chief operating officer of the unit.
On Monday, HSBC CEO Flint announced he was leaving the bank after just 18 months at the head of the company. HSBC said Flint would be leaving "by mutual agreement with the board."
While Flint has a 12 month notice period, he will stop his day-to-day responsibilities at the group and help HSBC in the transition to find a replacement, while Quinn takes over as interim chief executive.
At the same time, the group announced it will cut up to 2% of the 237,685-strong global workforce — which equates to 4,700 people.
HSBC shares in early London trading remained flat after initially falling on the job cut and Flint exit earlier this week: