From Yahoo Finance: 2025-06-05 20:17:00

HSBC Chairman Mark Tucker will step down and become AIA Group’s chair, following leadership changes and geopolitical challenges. Brendan Nelson will serve as interim chairman at HSBC. Tucker’s departure marks the end of an eight-year tenure. AIA aims to strengthen its presence in China and Hong Kong with Tucker’s expertise.

Tucker, a former professional soccer player, has deep experience in the insurance sector. His departure from HSBC was expected due to governance guidelines. Tucker’s role was crucial in managing geopolitical tensions and expanding HSBC’s business in China. He will advise CEO Georges Elhedery during the chairman search.

HSBC faced pressure to spin off its Asian business, a move that was rejected at a shareholder meeting. The search for a permanent chairman is ongoing. Nelson, a seasoned board member, will serve as interim chairman. Potential successors include former Citigroup President Jamie Forese from HSBC’s current board.

Read more: HSBC Chair Tucker to return to Asia insurer AIA after overseeing bank overhaul