Mark Tucker, insurance expert and former professional footballer for Wolverhampton Wanderers, has been named the chairman designate of HSBC.
Mr Tucker, chief executive and president of insurance expert AIA, will be the first chairman of the banking group who hasn't worked his way up the HSBC ranks, and some believe his appointment signals a change of direction at the bank.
He is an expert in the Asian region, which accounts for three quarters of HSBC profits. Mr Tucker will become a director and chairman designate from 1 September. He will take up his position as chairman formally on 1 October this year.
He will replace Douglas Flint, who has been in the role for over 20 years. One of his first responsibilities will be to find a successor to current CEO, Stuart Gulliver, who has already said he wishes to retire during 2018.
Mr Flint said: “I wish Mark Tucker all the very best as he succeeds me to take on the best job in banking. It has been an extraordinary privilege to serve both as group finance director and group chairman of HSBC over nearly 22 years. Over that time the group has dealt with considerable challenges as well as successfully pursued opportunities which have positioned the group extremely well for the future.”
HSBC recently announced much lower-than-expected full year profits, after taking a multi-billion dollar writedown on European banking assets.
Mr Tucker, who also formerly headed Prudential, currently lives in Hong Kong, and will relocate to London.
He said in a statement: "I am very much looking forward to working with the board, the executive team and my colleagues around the world to continue the group’s success through effectively serving its customers and the communities in which it operates.”
