06:47 AM EDT, 07/09/2024 (MT Newswires) -- HSBC ( HSBC ) is preparing to appoint its third CEO in nine years and is considering financial incentives and project reallocations to retain executives who miss out on the top role, Reuters reported on Tuesday, citing sources familiar with the matter.

The company could reassign its technology transformation and innovation strategy, currently overseen by CEO Noel Quinn, away from his successor, sources told Reuters.

The bank is expected to pick its new chief executive from a crop of internal candidates, with an announcement possible as soon as this month, according to Reuters.

The nominations committee is expected to choose from a list that includes CFO Georges Elhedery, wealth business head Nuno Matos, Europe boss Colin Bell, and investment bank chief Greg Guyett, according to media reports.

Amid tensions between Britain and China and a lackluster share price performance, investors are concerned that a new CEO appointment could lead to more management upheaval.

"Promotions do leave gaps elsewhere, and that merry-go-round can be problematic if not handled well," one of the investors told Reuters.

HSBC ( HSBC ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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