Mar 11, 2017
HSBC in talks to appoint AIA’s Tucker as chairman
HSBC is in advanced talks to appoint Mark Tucker, head of Asian life insurer AIA, as chairman in a move that would break with the bank's tradition of promoting insiders to top jobs. HSBC said in an emailed statement: "At our AGM we said we aim to nominate the chairman successor during 2017. Our process remains on track and the timetable is unchanged." The AIA head, who has presided over a period when the insurer's share price has more than doubled since its initial public offering in 2010, was first approached several weeks ago to replace Douglas Flint as HSBC chairman, which is almost a full-time commitment. The approach to Mr Tucker, which was first reported by Sky News, came after Henri de Castries, the former Axa chief who is now on HSBC's board, had been the favourite to be the bank's next chairman. Mr Tucker lives in Hong Kong and is likely to have to move to the UK if he joins HSBC. Since Mr Flint stepped up from finance director to become chairman in 2010, he has taken extra responsibility for regulation, compliance and conduct.
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