HSBC Chair Mark Tucker to Lead AIA Group

Mark Tucker, currently chairman of HSBC, will retire from the bank at the end of September 2024 and become non-executive chairman of AIA Group starting October 1. Tucker, who previously served as AIA’s CEO and president and led its record-setting Hong Kong IPO, will succeed Edmund Sze-Wing Tse, who becomes chairman emeritus after six decades at the insurer. HSBC has appointed Brendan Nelson, its group audit committee chair, as interim chairman while it searches for a permanent successor. Tucker’s tenure at HSBC included overseeing a strategic reorientation towards Asia and scaling back in Western markets. His return to AIA, where his leadership was seen as transformative, marks a significant shift for both organizations. Following the announcement, AIA shares rose while HSBC shares dipped slightly.