Feb 24, 2020

HSBC is turning from teaser of bankers to teased bank

In the two years since Mr Tucker became the bank's first non-executive chairman, it has ousted one chief executive - John Flint, who was shown the door in August - and dithered about hiring his replacement. The bank's shares are down nearly a fifth in eight months. Banks across Europe are shrinking or ditching their high-rolling investment banks, slashing costs and searching for a new model army able to ride the turn. US banker Jes Staley is now expected to leave Barclays in a year or so after two run-ins with the UK regulators. Mr Mustier may think he'd have a smoother ride in the soon-to-be-vacant top slots at Barclays, ING or even Lloyds, when António Horta-Osório - chief since 2011 - decides to quit the UK bank.

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