Defying expectations, CEO Noel Quinn retires

The HSBC Holdings logo is shown on a smartphone with HSBC visible in the background in this photo caption taken on February 20, 2024 in Brussels, Belgium.

Jonathan Raw | NoorPhoto | Good pictures

HSBC beat market expectations in its first-quarter earnings report on Tuesday, and announced the sudden departure of Noel Quinn, the group's chief executive.

Revenue came in at $20.8 billion, up 3% from the same period a year ago and compared to the average LSEG forecast of about $16.94 billion.

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