HSBC has announced that group chairman Mark Tucker intends to retire before the end of 2025.
Tucker joined the Board in 2017 and has served as group chairman since October that year.
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Tucker said: “It has been a great honour and privilege to lead HSBC as chair. I am deeply grateful for the trust and support I have received from the board, management, and colleagues and am very proud of all that we have accomplished together.
“With the strong foundations laid over the last eight plus years, I am very confident that under Georges’ leadership, HSBC will go from strength to strength.”
The Nomination and Corporate Governance Committee, led by Ann Godbehere, senior independent non-executive director, has begun the process to find Tucker’s successor.
Ann Godbehere commented: “As group chairman, he has provided strategic guidance and clarity to the management team, streamlined the Board and overseen material improvements to the Group’s people succession and governance processes.
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By GlobalData“The Board is conducting a thorough process to identify the best candidate to lead the Board, and support Group CEO, Georges Elhedery, and the wider management team, through the next period of development and growth for the Bank.
The company, headquartered in London, serves customers from offices in 58 countries and territories.
HSBC has assets worth $3.05tn as of 31 March 2025.
Godbehere added that Tucker“will remain as a strategic adviser to the group CEO and the board whilst the succession process for a permanent chair continues.”
The company said it will provide updates on the succession process for the group chairman role in due course.
In October last year, HSBC Holdings decided to restructure its organisational framework into four distinct business units to better align with its strategic priorities.
Starting from 1 January 2025, the company is operating through these units: Hong Kong; UK; Corporate and Institutional Banking; and International Wealth and Premier Banking.
In October 2024, HSBC has also appointed Pam Kaur as the new group CFO and an executive board director, effective from 1 January 2025.
Last month, HSBC launched a new wealth Centre at The Star Vista, aiming to offer tailored financial services to affluent clients in western Singapore.
