HSBC Holdings leadership said the era of major acquisitions and disposals is over. This is the first time the bank's leadership has faced shareholders since Chief Executive Qi Yaonian unexpectedly announced his retirement.

Asked about the recent sale of HSBC's Canadian operations, Chairman Du Jiaqi told investors in London that the era of selling off some of the company's largest businesses was over.

"We have not dealt with any of themfibabasketballworldcupqualifiersasiaHis business plan,"Du Jiaqi said.

Qi added that the bank had no plans to make any new transactions. "We are not planning to enter a new phase of expansion," the outgoing chief executive said. After five years at the helm and nearly four decades at the bank, he said earlier this week that he planned to retire.

During Qi Yaonian's tenure, the bank completed sales of its French and Canadian operations and several smaller businesses, working to shift its focus to its core Asian markets.