Stuart Gulliver

Banking giant HSBC announced the appointment of a new chairman on March 13 as part of a management overhaul which will also see it choose a new CEO, after a massive drop in profits in 2016.

British businessman Mark Tucker will take over from current chairman Douglas Flint in October. Tucker is currently group chief executive and president of insurance group AIA.

HSBC has decided to retain its Turkish operations after the offers it received for the unit were deemed not to be in the best interest of shareholders, Group CEO Stuart Gulliver said in a statement on Feb. 22.

HSBC has decided to retain its Turkish operations after the offers it received for the unit were deemed not to be in the best interest of shareholders, Group CEO Stuart Gulliver said in a statement on Feb. 22.

Scandal-hit global bank HSBC plans to cut thousands of jobs across its global operations, broadcaster Sky News reported on June 2.