(Bloomberg) -- HSBC Holdings Plc’s leadership said the era of major acquisitions and disposals is over, as the bank faced shareholders for the first time since Noel Quinn announced his surprise retirement. 

Chairman Mark Tucker told investors in London that the company’s days of offloading some of its largest operations were done for now, following a question about the recent sale of HSBC Canada. 

“We have no plans to dispose of any of our other businesses,” said Tucker.

Quinn added that the bank was not planning any new deals. “We’re not looking at going on a new expansion phase,” said the outgoing chief executive, who said earlier this week he planned to stepped down after five years running the lender and nearly four decades at the company. 

Shareholders only mentioned his departure once during the meeting, though, with questions largely coming from former employees campaigning about their pensions and environmental action groups.

During Quinn’s reign, the bank has completed the sale of its French and Canadian units, as well as several smaller businesses in an effort to pivot its focus toward its core Asian markets.

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