Banking giant HSBC has this weekend confirmed several boardroom changes after days of speculation.

The bank, which is Europe’s largest, confirmed that its chief executive, Michael Geoghegan, will be replaced by investment banking chief Stuart Gulliver.

Meanwhile, outgoing chairman Stephen Green (who is moving on to take up the post of trade minister with the Coalition Government), will be replaced by Douglas Flint, currently the bank’s finance director.

In addition, Sandy Flockhart will transfer from the role chief executive of HSBC’s Asian arm to chairing the UK-based HSBC Bank division.

The confirmed changes come after reports that 56-year-old Mr Geoghegan threatened to leave the bank if he was not promoted to chairman.

Mr Geoghegan, however, denied that there had been any ill feelings over the matter.

The announcement follows other leadership changes in major banks earlier this month.

Barclays’ chief executive, John Varley, will be departing next year and will be replaced by Bob Diamond, currently president of Barclays Plc.

Furthermore, the chief executive of Lloyds Banking Group, Eric Daniels, has announced he will retire next year.

Fifty-nine year-old Daniels is the longest serving CEO at a major British bank and will continue in his post until next year when a replacement is found.

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