Mark Tucker’s five big challenges at HSBC

Now Mark Tucker has broken the mould by becoming the first person hired externally as the bank's chairman. Investors and analysts have identified five big challenges ahead. Mr Gulliver has told the HSBC board that he plans to step down as chief executive in 2018 and Mr Tucker will take charge of the process of finding his successor. With Mr Tucker boasting strong knowledge of Asia, where HSBC generates almost three-quarters of its profit, investors are hopeful he will help lead the bank back to growth, after five years of falling revenues. "They have tried to show the synergies are there, but it is pretty clear there are dis-synergies," says one top 20 investor in HSBC. The to-do-list for big banks over the next two years include completion of the Basel III capital reforms, introduction of ringfenced retail banks in the UK, setting up of intermediate holding companies in the US and dealing with Brexit. One HSBC board member hopes Mr Tucker - who has first hand experience of banking regulation from his three years on the Court of the Bank of England - will need to spend less time on these issues as most of the heavy lifting has already been done, freeing him up to think more strategically.

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