HSBC says CEO Flint steps down, pre-tax profit up 15.8%

HONG KONG: HSBC on Monday said its Group Chief Executive John Flint had stepped down as the bank braces for geopolitical uncertainties. The announcement came as the banking giant reported pre-tax profit was up 15.8 percent at $12.4 billion for the first half of the year.Adjusted pre-tax profit also rose 6.8 percent year-on-year to $12.5 billion, the bank said.Flint´s departure was revealed as HSBC said it was facing an "increasingly complex and challenging global environment"."Although not carrying out his day-to-day duties after today, he (Flint) remains available to assist HSBC with the transition," the bank said in a statement. Noel Quinn, head of the commercial banking division, will be interim CEO, the statement added.

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