HSBC Holdings plc announced that Group Chief Executive, Noel Quinn, has informed the Board of his intention to retire from the Company after nearly five years in the role. As Group Chief Executive, Mr. Quinn has overseen a successful transformation of the Bank. During his tenure, HSBC has delivered record profits and the strongest returns in over a decade.

He has successfully simplified and focused the Bank, most recently with the sale of the Canada and Argentina operations and built a leading position on sustainability. Noel Quinn Career History: 03/2020 - present HSBC, Group Chief Executive, UK - 08/2019 - 03/2020 HSBC, Interim Group Chief Executive, UK - 2015 - 2019 HSBC, Chief Executive of Global Commercial Banking, UK - 2011 - 2015 HSBC, Regional Head of CMB, Asia Pacific, Hong Kong - 2008 - 2011 HSBC, Head of CMB, UK - 2007 - 2008 HSBC, Head of Commercial Finance Europe, UK - 2004 - 2007 HSBC, Group Director, Strategy & Development, North America, USA - 1987 - 2004 Various roles in the UK including in Midland Bank and subsidiary businesses. The Board has begun a formal process to find a successor, considering both internal and external candidates.

Mr. Quinn will continue as Group Chief Executive during this process to ensure a smooth and orderly transition. Quinn will remain Group Chief Executive until such time as his successor starts in role and has agreed to remain available through to the end of his 12-month notice period (which expires on 30 April 2025) (the Retirement Date), to support transition. Consequently, it is expected that he will continue to receive salary, cash allowance in lieu of pension, benefits and fixed pay allowance in the normal way throughout his notice period.