One of HSBC's most experienced bankers, Sandy Flockhart, is to retire as Executive Director from the main board, having served 37 years with the firm.
His experience in international banking means the bank has decided to retain him as a non-executive. He will also retain his positions as Chairman of HSBC Bank plc, the group's principal UK and European subsidiary, as Chairman of HSBC Latin America, and as a director of the Middle East operation.
Douglas Flint, Group Chairman, said: "Sandy has served the bank with dedication and distinction in a 37-year career spanning both developed and emerging markets. He retires at a point in time when Commercial Banking, the business with which he has been most associated, is the largest profit contributor to the Group."
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HSBC shares were down 0.63% at 11:14.
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