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HSBC announces surprise exit of CEO Flint and up to $1bn buyback

Chief's departure after 18 months comes despite Asia-powered profit rise

HSBC chief executive John Flint, who is stepping down, in June 2018 laid out plans to invest $15 billion to $17 billion in areas such as tech and China over three years.   © Reuters

HSBC on Monday announced the surprise departure of Chief Executive Officer John Flint, saying the bank needed a change at the top to address "a challenging global environment", even as it posted a 16% rise in half-yearly profit.

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