One of the largest banking and financial services organizations in the world with over 80 countries, HSBC Holdings Plc (NYSE: HSBC) announced the appointment of Mark Tucker as a director and Group Chairman Designate from 1 September 2017. Mr. Tucker will take over as non-executive Group Chairman on 1 October.
“We are delighted that in Mark Tucker 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,” said HSBC senior independent director, Rachel Lomax who led the appointment process along with chairman of the Nomination Committee, Sam Laidlaw.
“The Board would like to express its warm appreciation of the dedicated service that Douglas Flint has given to HSBC over a long and distinguished career. Douglas has 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.”
“I am honoured and excited to be taking on the role of Group Chairman of one of the world’s largest and most prestigious banking and financial services organisations. I have long had enormous admiration for HSBC with its unrivalled network, exceptional brand and leading position supporting global business and trade. I am very much looking forward to working with the Board, the executive team and my colleagues around the world to continue the Group’s success through effectively serving its customers and the communities in which it operates,” said Mark Tucker.
In the statement, Mr. Tucker as the incoming Group Chairman, will take over the responsibility for leading the process of identifying a successor to the current Group CEO, Stuart Gulliver. This process is expected to conclude during 2018 in order to meet Stuart Gulliver’s expressed desire to retire in that timeframe.