HSBC’s chief executive is to retire from the bank unexpectedly after an “intense” five years in the role. Noel Quinn, who has been at the helm of the global banking giant since 2019, will remain in the post for up to a year until his replacement is found. The company said it has begun the process of finding his successor and hopes to make an appointment in the second half of the year. Mr Quinn said it has been a “privilege” to lead the business but that now is the “right time” for him to retire and lead a more balanced life. “I never imagined when I started 37 years ago that I would have the honour of becoming group chief executive of this great bank,” he said. “After an intense five years, it is now the right time for me to get a better balance between my personal and business life. “I intend to pursue a portfolio career going forward.” He said he made the decision after taking some time out over Christmas and first told chairman Mark Tucker of his plans in March. He said: “I want to get a better balance for myself and my family and...