FT: Report - The bank CEO who most needs to be replaced

Old Boot

Who investors would most like to be replaced.

The Financial Times reports that HSBC’s Stuart Gulliver is the European bank chief executive who investors would most like to be replaced, according to a recent poll of large shareholders.

When 74 institutional investors were polled by Autonomous Research and asked to each name three banks in Europe “most in need of a change in CEO”, Gulliver, who has run the region’s biggest lender since 2011, won by a chunky margin.

The poll is not due to be released publicly, but two people who have seen the results said Gulliver won 26 votes — almost double those of second-placed Tidjane Thiam, who was appointed to head Credit Suisse less than a year ago.

At Credit Suisse, Thiam has drawn criticism for a faltering start. He complained staff had “concealed risky exposures” and he needed to change his strategic plan within only months.

Hit the link below to access the complete Financial Times article:

HSBC chief Stuart Gulliver tops investors’ choice for removal

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