HSBC is under pressure to hire an external candidate as its chief executive for the first time in its 154-year history following the surprise departure of John Flint after just 18 months in the job.
The UK lender must break with its tradition of promoting from within its ranks and select an outsider as Flint’s permanent replacement, according to HSBC insiders and analysts, who urged the board to act quickly as the bank faces challenges in its key markets and a deteriorating global economy.