HSBC announces Mark Tucker as new chairman as Douglas Flint steps down

HSBC, Europe’s biggest bank, tapped an outsider for its top job on Monday, appointing insurance veteran and AIA Group boss Mark Tucker as chairman to replace Douglas Flint, who plans to step down in 2017.

A one-time professional footballer who has held several leadership jobs including running Britain’s Prudential, Mr Tucker will take over as group chairman designate from 1 September and as non-executive group chairman on 1 October.

The bank’s shares rose 1.2 percent in Hong Kong on Monday on news of the appointment, which market-watchers said signalled the bank’s ongoing pivot towards Asia and steadier, lower-risk income

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