HSBC chief Stuart Gulliver to step down in two years: report

Hong Kong

STUART Gulliver, chief executive officer of HSBC Holdings plc, will stand down in two years as the UK bank replaces its top leadership, according to The Sunday Times.

The lender has started compiling a list of internal candidates and will also consider external applicants, the London-based newspaper said, citing people it didn't identify. The bank plans to appoint a new chairman first to help choose the next CEO, The Sunday Times reported, after HSBC said last month that it plans to nominate a successor to chairman Douglas Flint next year.