HSBC's Chairman Douglas Flint said on Friday the pace of reform in the banking industry must be accelerated to avoid investor confidence in the sector being undermined.

"We have a once-in-a-generation opportunity to reform banking and the broader financial industry," Flint told shareholders at the bank's annual general meeting.

"As a first priority we need to speed up the reform process. Otherwise investor confidence in the sector will continue to be undermined," he added.

(Reporting by Matt Scuffham, editing by Sinead Cruise)