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John Flint named as HSBC's new chief executive, succeeding Stuart Gulliver

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According to Haberturk, Flint, which has been working in various stages of HSBC since 1989, has previously been chief of staff of Gulliver and experienced executive officer in seat of CEO. The new boss is a 28-year veteran of the British bank and a familiar face in Asia.

Europe's largest bank, which is based in London, said Mr Gulliver would retire on 21st February to be replaced by the HSBC veteran, who now heads its retail banking and wealth management divisions.

HSBC, CEO Stuart Gulliver, who will retire next year, announced that John Flint is now head of individual banking and asset Management department.

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Chairman Mark Tucker, who led the search, said: "John has broad and deep banking experience across regions, businesses and functions". Gulliver's legacy in six years on the job is of cleaning up and tightening controls after HSBC was ensnared in a series of scandals, including laundering for drug cartels.

HSBC's previous management duo of Mr Gulliver and former chairman Douglas Flint spent the years since their appointments in 2010 shrinking the bank, after a period of empire-building in the run-up to the global financial crisis left it overextended. He has represented the group in Hong Kong, Singapore, Indonesia, Thailand, India, Bahrain, the United States and the United Kingdom. He could earn as much as £2.58 million as an annual bonus, with another £3.84 million in longer-term bonus awards.

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