Outgoing HSBC boss Noel Quinn (pictured) shelled out £26.7bn during his final 18 months in charge
HSBC shareholders are to receive a £2.3bn share buyback following the departure of chief executive Noel Quinn.
The lender, which is based in the UK but makes most of its money in Asia, had already announced a £2.3bn buyback earlier this year.
Investors will also receive £1.4bn in new dividends. In total, £26.7bn has been handed out during Quinn’s final 18 months in charge as part of a strategy that helped fend off calls to break up the bank, led by its largest shareholder, Chinese firm Ping An Asset Management.
The outgoing director said yesterday that his five years at the helm of the bank had been a “joy.” He will be replaced in September by CFO Georges Elhedery.
