Former Pru and AIA man Tucker lands top HSBC job

Added 13th March 2017

Former Prudential group chief executive Mark Tucker is to succeed Douglas Flint as the next chairman of HSBC after a long-running search to fill the role.

Former Pru and AIA man Tucker lands top HSBC job

Tucker, who is currently group chief executive of Asian insurer AIA Group, will start his new role on 1 September.

His career was mostly with Prudential, as the founder and chief executive of Prudential Corporation Asia between 1994 and 2003, and serving on the board of Prudential for 10 years including a four-year stint as group chief executive from 2005 to 2009.

Tucker will step down from his non-executive director role at Goldman Sachs, which he has held since 2012.

Rachel Lomax, HSBC senior independent director, who led the appointment process along with Sam Laidlaw, chairman of the nomination committee, said: “We have secured someone who possesses the rare combination of experience demanded by the HSBC board.

“He has a long track record of successful leadership of complex financial services businesses in both Asia and the UK. As CEO of two major financial services groups and through his non-executive roles at the Bank of England and Goldman Sachs, he also has extensive experience and understanding of the regulatory frameworks within which international financial services groups such as HSBC now operate.”

Lomax also said how Flint had “skillfully led HSBC through the turbulent times of the financial crisis and its aftermath. As an industry leader, he has played a key role in contributing to the development of the post-crisis regulatory framework”.

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.”

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Mark Battersby

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International Adviser

Mark Battersby is editor of International Adviser. He is also programme director for International Adviser events in strategic expat locations around the world, and its flagship FundLinks conference in London. Mark joined Last Word Media in February 2012, having previously worked at Citywire, Interactive Investor International, and FT Business.

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