HSBC has no plans to change its management structure, the investment bank's Chief Executive Michael Geoghegan told CNBC television on Monday.
His comments were in response to a Sunday Telegraph report that HSBC Chairman Stephen Green is expected to step down later this year and non-executive director John Thornton is his likely replacement.
There's no plan at the current time to change anything, Geoghegan told CNBC.
Obviously we keep things under review, we have succession planning but there's nothing in that story. Geoghegan said it was important to hold a balanced position on the issue of compensation for banking executives.
HSBC investors have been urged to oppose the bank's pay plans by a governance body which objects to a 9 million pound ($13 million) bonus for the bank's chief.
HSBC will hold its annual shareholder meeting on May 28.
(Reporting by Dhara Ranasinghe;Editing by Valerie Lee)