HSBC To Name AIA CEO Mark Tucker as Chairman -- Sources
March 12 2017 - 3:16PM
Dow Jones News
By Margot Patrick
LONDON -- HSBC Holdings PLC is set to name AIA Group Ltd. Chief
Executive Mark Tucker as its next chairman, the first time the bank
has hired from outside for the role in its 151 year history.
Mr. Tucker will join the bank in the fall, people familiar with
the matter said Sunday, replacing outgoing HSBC veteran Douglas
Flint. Mr. Tucker, currently based in Hong Kong, will relocate to
London.
Mr. Flint's planned departure is the first step in refreshing
the bank's leadership and setting out its next set of goals. HSBC
Chief Executive Stuart Gulliver, who has said he would leave once
Mr. Flint's successor is in place, is to announce he will leave the
bank in 2018, a person familiar with the matter said Sunday.
That announcement, and Mr. Tucker's joining, is expected to come
after AIA confirms Mr. Tucker's departure in an announcement early
Monday in Hong Kong.
Write to Margot Patrick at margot.patrick@wsj.com
(END) Dow Jones Newswires
March 12, 2017 15:01 ET (19:01 GMT)
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