Stuart Gulliver departed HSBC after announcing a 141 per cent year-on-year rise in pre-tax profits to $17.2 billion Bobby Yip/ReutersStuart Gulliver signed off yesterday after seven years as chief executive of Britain’s biggest bank by unveiling annual results in which profits more than doubled. The 38-year HSBC veteran handed over the reins at midnight after the bank announced a 141 per cent year-on-year rise in reported pre-tax profits to $17.2 billion. Shares in the bank fell by 23½p, or 3 per cent, to close at 737p. Mr Gulliver pointed to growth across all main businesses and said that transformation plans introduced in 2015 had now been delivered. “HSBC is simpler, stronger and more secure than it was in 2011,” he said.

Source: The Times February 21, 2018 00:00 UTC