Overview

• Mark Tucker will step down from HSBC on September 30 to become non-executive chairman of AIA Group on October 1, returning to the insurer he led as CEO from 2010 to 2017.
• HSBC has appointed Brendan Nelson, chair of its group audit committee and former KPMG partner, as interim chairman beginning October 1.
• After his departure, Tucker will remain a strategic adviser to CEO Georges Elhedery and the board during the leadership transition.
• Senior independent director Ann Godbehere is leading the search for a permanent successor, with internal and external candidates under consideration.
• Tucker’s exit comes amid his tenure overseeing HSBC’s strategic pivot toward Asia and the scaling back of Western investment banking operations.