Unicredit boss Mustier emerges as contender for HSBC CEO role: Bloomberg
Reuters
Published Feb 20, 2020 12:26PM ET
Unicredit boss Mustier emerges as contender for HSBC CEO role: Bloomberg
(Reuters) - Unicredit Spa (MI:CRDI) Chief Executive Officer Jean-Pierre Mustier has emerged as one of the main external candidates for the top job at HSBC Holdings Plc (L:HSBA), Bloomberg reported on Thursday, citing sources familiar with the matter.
Mustier has been credited with turning around the biggest Italian bank through major restructuring in the past three years, including cost cuts, dumping bad debts and shrinking the bank's international presence.
Mustier has been in talks with HSBC about thejob, according to the report, although the board is still undecided and is considering candidates including the bank's interim chief, Noel Quinn.
Quinn took the interim role after HSBC ousted John Flint as CEO in August 2019 due to differences of opinion with Chairman Mark Tucker over Flint's more tentative approach to reviving growth.
Quinn, an HSBC veteran, is auditioning for the permanent role of CEO, which the bank said in August would be announced within six to 12 months.
HSBC on Tuesday announced a drastic overhaul to shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses that will mean 35,000 jobs cut over three years.
HSBC and UniCredit declined to comment.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.