HSBC names John Flint as next CEO

The Barbados hotels owner said that bookings are currently ahead of the same period last year

Gulliver, 58, joined HSBC in 1980 and was promoted to chief executive in January 2011.

John Flint, group managing director of HSBC Holdings Plc, looks on during a symposium at the University of St Gallen, St Gallen, Switzerland, on May 4 this year.

Insiders or outsiders? That has been the debate raging around HSBC since it emerged early previous year that both Stuart Gulliver, its chief executive, and Douglas Flint, its chairman, would be leaving the bank in quick succession.

Tucker added: 'Stuart has led HSBC through a challenging and hard period with great energy and commitment and successfully reshaped the business strategy of the bank. Flint had spent first 14 years of his career in Asia.

HSBC chair Mark Tucker, who led the search to identify Gulliver's successor, told the market: 'John has broad and deep banking experience across regions, businesses and functions. He has represented the group in Hong Kong, Singapore, Indonesia, Thailand, India, Bahrain, the United States and the United Kingdom. Flint will be owner of a pension allowance of £360 million in new office, as well as a net base salary of £$1.2 and £1.7 million in fixed allowance.

As a company veteran, he is a safe pair of hands to succeed Gulliver. 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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