Where to Look for HSBC’s Next Big Move

HSBC marked its handover of power with a moment of silence. The U.K.-based lender said nothing about its plans for strategy or share buybacks at its results Tuesday, disappointing investors, who sent the stock down as much as 4.5%.

Departing Chief Executive Stuart Gulliver resisted any temptation to give shareholders a parting gift, while his replacement, John Flint, wouldn’t offer the faintest teaser for the new leadership’s strategic program.