* Company insider Flint to start as CEO in February
* Flint currently runs retail and wealth management
* First major decision by new chairman Mark Tucker
* Will need to focus on revenue growth after era of cutbacks (Adds investor comment, details on Flint's location)
By Rachel Armstrong and Lawrence White
LONDON, Oct 12 (Reuters) - HSBC has chosen John Flint as its next chief executive, with its newly arrived chairman promoting an insider to drive revenue growth at Europe's biggest bank.
Flint, who runs HSBC's retail and wealth management business out of London, will take over as CEO in February next year when Stuart Gulliver, 58, retires after seven years in the job.
The appointment is the first major decision taken by former AIA Group chief Mark Tucker, who officially took up his post at HSBC just 12 days ago as its first externally-appointed chairman.
Flint, who is not related to Tucker's predecessor Douglas Flint, is viewed by other HSBC executives as the safe option, having worked at the bank since 1989.
During his career at HSBC Flint, 49, has worked across most of its businesses and spent his first 14 years in Asia, giving him the breadth of experience seen as vital for the CEO role.
"He has a great understanding and regard for HSBC's heritage, and the passion to build the bank for the next generation," Tucker said in a statement.
Flint emerged as the forerunner in the past six months as expectations HSBC could appoint its first external CEO in its 150-year history waned on the back of a rally in its share price.
The bank's stock is up 14 percent so far this year, though was little moved on Thursday following the announcement of Flint's appointment.
"It's good news - it's important to mix an insider with the new outside chairman and continue on the path set by the current team," said Hugh Young, head of Asia at Standard Life Aberdeen, one of the bank's top ten shareholders.
PUSH FOR GROWTH
Flint will be paid a base salary of 1.2 million pounds ($1.6 million) a year, as well as a fixed pay allowance of 1.7 million pounds and an annual pension allowance of 360,000 pounds.
He will also be entitled to an annual bonus worth up to 215 percent of his base pay and a long-term incentive award of up to 320 pct of his base pay.
His main task will be to grow revenues across HSBC's businesses, as it seeks to grow profits again following a period of restructuring after the 2008-9 financial crisis.
HSBC's previous management duo of Gulliver and Douglas Flint spent the years since their appointment in 2010 shrinking HSBC, after a period of empire-building in the run-up to the 2008 global financial crisis left the bank over-extended.