HSBC CEO Noel Quinn could extend his tenure on the throne with a video indicating he had no intentions to take the job as merely the interim head.
Following the exit of former CEO John Flint after a short 18-month stint, Noel Quinn was selected to fill the role in what was viewed as an interim capacity before a successor was found. But sources said that Quinn had no intentions to job temporarily and had since the beginning indicated to HSBC chairman Mark Tucker that he wanted the role permanently.
«I’m certainly not intending, and was not asked, to be, a caretaker CEO,» Quinn said in an internal video seen by «Bloomberg» which outlines his business plan. «My mandate is to run the business not just as an interim CEO, but as the CEO of the bank.»
Keys to Lead
The revelations about Quinn’s intention coincides with recent reports that the bank would ax 10,000 jobs following an August announcement that 2 percent of its workforce (around 5,000) would be laid off.
«It’s important that I have the ability to lead, to take decisions, to change, to shape. I want to do that because I think it’s important for our people that we don’t have a vacuum,» Quinn reportedly also said in the video, indicating a need for decision making powers.
«It’s important for our investors that we don’t have a vacuum, and that we’re able to make the decisions we need to make.»
Quinn’s battle for a permanent role at the top will be challenged by HSBC CFO Ewen Stevenson alongside other potential candidates including Stephen Hester, former RBS CEO and Stephen Bird, Citigroup’s global consumer banking head.
