HSBC shareholders handed £2.3bn share buyback as chief exec bows out
Departing HSBC boss Noel Quinn (pictured) dished out £26.7bn during his final 18 months in charge
HSBC shareholders will be given a £2.3billion share buyback as chief executive Noel Quinn bows out.
The lender, which is based in the UK but makes most of its money in Asia, had already announced a £2.3billion buyback earlier this year.
Investors are also set to receive £1.4billion in fresh dividends. In total, £26.7billion has been dished out during Quinn’s final 18 months in charge as part of a strategy that helped to fend off calls to break up the bank, led by its top shareholder, China’s Ping An Asset Management.
The departing boss said yesterday that his five years steering the bank had been a ‘joy’. Chief financial officer Georges Elhedery replaces him in September.
