This report comes as current chairman Mark Tucker prepares to step down by the end of this year, the Financial Times reported on Saturday.
The search for a successor
The bank has been actively seeking a replacement for Mark Tucker, who announced earlier this year that he would be resigning from his position.
Tucker’s tenure as the chairman has been described as turbulent, marked by several changes in chief executive, a clash with one of the bank’s largest shareholders, and a public slap down from the US government.
The urgency to find a successor intensified after Tucker surprised fellow board members with an announcement that he would step down from his position in the bank in September to take on a non-executive chairman role at AIA Group Ltd., Bloomberg previously reported.
Challenges in Candidate selection
The bank has reportedly considered over 100 individuals for the role but has struggled to develop a satisfactory shortlist of successors.
HSBC has mulled several potential executives, including:
- Bruce Carnegie-Brown, former chair of the Lloyd’s of London insurance market
Some of the potential candidates were unavailable while others had declined when approached, according to a news report. For instance, a spokesperson for Zurich confirmed that Mario Greco was approached by a headhunter but he declined due to his commitment to Zurich.
Who will be the interim leader?
According to a news report by BloombergBrendan Nelson, who currently heads HSBC’s audit committee, will serve as interim chairman starting October 1, 2025. The bank has confirmed that the process to appoint a new chairman is underway.
