SBC boss Noel Quinn today made a strong commitment to become a financial hub for London, with the bank taking a ‘lead’ to Asia and starting to pull out of its retail banking operations in the states.
Profits for the year to December were down a third at $ 8.8 billion. Managing Director Noel Quinn said: “It’s been a tough year.”
Asked if the HSBC office in Canary Wharf would retain its iconic status and be fully vaccinated, he replied, “The answer is very simple: yes. London is very important. Our job is to connect London with other parts of the world. “
HSBC is cutting plans to cut its staff to 35,000 and move some senior executives to Asia. He told Standard that there would only be two or three on the first team that Quinn would report.
CFO Evan Stevenson said: “I wish to congratulate you on the UK’s most successful vaccination program. It’s time to focus on the future.”
“I’ll stay in London, Evan will stay in London,” Quinn said.
Queen became CEO last month after several months as interim boss. Its chairman, Mark Tucker, manages HSBC’s relationship with the Chinese government and is seen as a hard-working master.
The shares that fell on his watch are now 432 p.