Overview

• Mark Tucker, HSBC's chairman since 2017, will retire by the end of 2025 and continue as a strategic adviser to the bank.
• HSBC’s Nomination and Corporate Governance Committee has initiated the search for Tucker’s successor, with updates to shareholders expected in due course.
• Under Tucker's leadership, HSBC navigated significant challenges, including the Covid-19 pandemic, US-China trade tensions, and economic headwinds.
• CEO Georges Elhedery, appointed in 2024, is overseeing a $1.5 billion cost-cutting program set for completion by 2026 as part of a broader strategic overhaul.
• HSBC remains focused on its Asia pivot and cost discipline, while managing shareholder pressures, including past calls from Ping An for structural changes.