HSBC has appointed John Flint as its new chief executive, replacing the long-standing Stuart Gulliver.
Mr Flint, who currently heads up retail banking and wealth management at the lender, will take up the role on February 21.
Mr Gulliver will end a seven-year stint at the banking giant.
Chairman Mark Tucker, who led the search for a new chief executive, said: "John has broad and deep banking experience across regions, businesses and functions.
"He has a great understanding and regard for HSBC's heritage, and the passion to build the bank for the next generation.
"Through the search process, John has developed with myself and the board a clear sense of the opportunities and priorities that lie ahead."
Mr Flint said he is "humbled by the responsibility" and excited by the opportunity to head HSBC.