HSBC’s Mark Tucker to become chair of insurer AIA

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HSBC’s longtime chair Sir Mark Tucker will step down in September to become non-executive chair of Hong Kong-based insurer AIA.

Tucker, who has served as chair of the UK-headquartered bank for nearly eight years, had said last month he would retire from the board.

The head of HSBC’s audit committee, Brendan Nelson, will take over as interim chair while the bank continues its search for a permanent replacement, said HSBC.

Tucker previously served as chief executive of AIA from 2010 to 2017.

This is a developing story