HSBC CEO to Step Down

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Chief executive Michael Geoghegan will be departing HSBC at the end of the year, according to the Financial Times, with Stuart Gulliver, head of the group’s investment bank, taking over his position. Also, the company's CFO, Douglas Flint, will be taking over as chairman. All this shifting comes after “two weeks of jostling for the [CEO] position among board members.” [DealBook/NYT]