HSBC plans to pick John Flint, its head of retail banking and wealth management, as its new chief executive, according to reports.
The bank, whose current boss Stuart Gulliver plans to leave next year, has asked the Bank of England’s Prudential Regulation Authority to approve Flint as its next leader, the Sunday Times said.
Flint’s anointment would be the final piece of a long-running succession plan for HSBC’s senior team. It would also be the first major decision for Mark Tucker, who became chairman at the beginning of October to replace Douglas Flint, who is no relation to the next chief executive.
HSBC declined to comment. Despite calls from some investors to hire an external candidate, the bank appears to have kept its 152-year-old tradition of promoting from within.
Flint, 49, joined the bank in 1989 as a trader in Asia before returning to Europe in 2004 to work on both the investment banking and retail sides of the organisation. His other roles at the bank have included treasurer, deputy head of markets and head of strategy.
He was viewed as one of the frontrunners to succeed Gulliver, who told the board in March that he was stepping down in 2018.