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December 6, 2012updated 04 Apr 2017 3:31pm

HSBC names new CEO of wealth management, retail banking

HSBC Holdings plc has appointed John Flint as the new group managing director and CEO of retail banking and wealth management (RBWM), effective 1 January 2013.

By Verdict Staff

Flint replaces Paul Thurston who is retiring from his after a 37-year career with the HSBC Group, on 31 December 2012.

Flint had joined HSBC in 1989 and has worked in Hong Kong, Singapore, Indonesia, Thailand, India, Bahrain, the US and the UK. He spent the first 14 years of his career with HSBC in Asia, helping it to establish and expand the Global Markets business in the region before moving back to the UK in 2004.

He was appointed as Group Treasurer in 2006 and in 2008 added the roles of deputy head of Global Markets and Head of Global Markets, Europe, Middle East and Africa.

In 2010, he was appointed chief executive of HSBC Global Asset Management and a Group General Manager in 2011. He took up his current role at the beginning of 2012.

The bank also announced that Guilherme Lima will succeed Flint as group head of Strategy and Planning and chief of staff to the group chief executive.

Lima joined HSBC in 2010 as group head of Strategy from McKinsey & Co., where he was a partner. He has worked in the UK and Hong Kong for HSBC, and in Brazil, Mexico, the United States, Spain and the Netherlands for McKinsey.

Also, Antonio Losada, the bank’s chief executive of Latin America and the Caribbean since 1 February 2012, has been appointed as group managing director with effect from 1 December 2012. Losada has been with the HSBC Group since 1973 and has served in Brazil and as CEO of Argentina.

Commenting on Paul Thurston’s resignation, Stuart Gulliver, group chief executive said: "I would like to thank Paul for his 37 years of dedicated service to HSBC. Paul had planned to retire two years ago but stayed on at my request to help establish RBWM as a globally managed business.

"Under Paul’s leadership RBWM has developed and rolled out consistent business models across multiple markets as part of a new, highly targeted strategy to build a global business," he added.

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