HSBC has announced retail banking and wealth management chief executive Paul Thurston will retire at the end of the year.
John Flint, former chief executive of HSBC Global Asset Management, will take over from Thurston on 1 January, with Guilherme Lima succeeding Flint as group head of strategy and planning.
Group chief executive Stuart Gulliver says: “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 [retail banking and wealth management] 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.”
Thurston joined HSBC in 1975 and took up his current role in March 2011.