FINANCIAL SERVICES | Staff Reporter, Hong Kong

HSBC appoints AIA's Mark Tucker as chairman

One of his first major tasks is to find a CEO to succeed Stuart Gulliver.

According to Bloomberg, HSBC Holdings Plc named insurance executive Mark Tucker to succeed Douglas Flint as chairman, enlisting an outsider to oversee Europe’s biggest bank as it overhauls management.

Tucker, 59, chief executive officer of AIA Group Ltd. and former head of Prudential Plc, will take the post Oct. 1, the bank said in a statement. AIA Regional CEO Ng Keng Hooi will immediately become CEO-designee and formally succeed Tucker on Sept. 1.

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