HSBC picks AIA chief as Douglas Flint's successor

Banking major HSBC has recruited an outsider to become its new chairman ­later this year, appointing Asian insurer AIA's chief executive Mark Tucker to succeed Scots-born chairman and former finance chief, Douglas Flint.

Scots-born Douglas Flint will be succeeded as HSBC chairman by AIA boss Mark Tucker. Picture: Ben Stansall/AFP/Getty Images

Tucker, who has held several leadership jobs including running Prudential, the UK insurance giant, will become HSBC’s chairman designate on 1 September, becoming non-executive group chairman on 1 October.

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One of Tucker’s tasks will be helping the search for an eventual successor to another long-serving HSBC veteran, group chief executive and former head of its investment banking division, Stuart ­Gulliver.

Rachel Lomax, HSBC’s ­senior independent director, said: “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.”

Lomax also expressed the board’s “warm appreciation of the dedicated service that Douglas Flint has given to HSBC over a long and distinguished career.

“Douglas has skilfully 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.”

Flint served the bank for nearly 22 years, first as finance chief and then as chairman from 2010.