HSBC plans to name successor to chairman Douglas Flint next year

[LONDON] HSBC Holdings Plc, Europe's biggest bank, said it plans to nominate a successor to chairman Douglas Flint next year.

The search process has started, though the exact timing will depend upon "identifying and securing the appropriate candidate" and Mr Flint will remain as long as necessary to "ensure a smooth transition," the London-based company said in a notice of its annual general meeting on Friday.

Mr Flint, 60, became chairman in 2010 and is a former accountant who joined the bank as finance director in 1995.

BLOOMBERG