SBC boss Noel Quinn made a firm commitment to London as a financial center today, even as the bank began a “turn” to Asia and began exiting its US retail banking business.
Earnings for the year through December fell a third to $ 8.8 billion. CEO Noel Quinn said: “It was a difficult year.”
When asked if the HSBC office in Canary Wharf would retain its iconic status and be full once the vaccinations are completed, he replied: “The answer is very simple: yes. London is extremely important. Our job is to connect London with the rest of the world.
HSBC is working on plans to reduce its workforce by 35,000 and relocate some of its top staff to Asia. It will be just two or three from the top team reporting to Quinn, he told the Standard.
CFO Euan Stevenson said: “I want to congratulate the UK on a very successful vaccination program. It’s time to focus on the future.
“I’ll stay in London, Euan will stay in London,” Quinn said.
Quinn became CEO last March after several months as interim chief. Its chairman, Mark Tucker, is considered a master of difficult tasks with an even tougher job, managing HSBC’s relationship with the Chinese government.
Shares, under his watch, were flat today at 432p.