Latest news with #EdmundTse
South China Morning Post
4 days ago
- Business
- South China Morning Post
HSBC chairman Mark Tucker to return to AIA; interim replacement is Brendan Nelson
HSBC Holdings chairman Mark Tucker will return to insurer AIA Group on October 1 and be replaced on an interim basis by veteran accountant Brendan Nelson, the two companies said on Friday. In early May, Tucker, who will turn 68 in December, said he would retire from HSBC by the end of the year. He will become AIA's non-executive chairman on October 1, returning to a company that he led as CEO and president between 2010 and 2017. His last day at HSBC will be September 30. At AIA, Tucker will replace Edmund Tse Sze-wing, 87, a six-decade veteran of the largest insurer in the Asia-Pacific region. Tse will assume the title of chairman emeritus. Tse said Tucker's time at AIA was 'substantial and enduring', referring to his effort to list the insurer in Hong Kong. AIA went public in October 2010 and raised HK$159 billion (US$20.3 billion), which is the largest initial public offering in the city's history. 'I am deeply honoured and excited to be taking on the role of independent chairman of one of the world's largest insurance companies,' Tucker said. 'AIA plays a critical role in protecting the financial well-being of millions of families across Asia, enabling them to live healthier, longer, better lives.' AIA shares rose 3.3 per cent on Friday morning after Tucker's appointment was unveiled, before ending the morning session 1.8 per cent higher at HK$68.05. HSBC shares dropped 0.2 per cent to HK$92.85 at the lunch break.
CNA
4 days ago
- Business
- CNA
HSBC's Mark Tucker moves to Hong Kong insurer AIA as chairman
Mark Tucker, HSBC's former Asia chairman, has been appointed to the same role at Hong Kong-based insurance company AIA Group, the two companies said in separate statements on Friday. Tucker, who previously served as AIA's chief executive and president from 2010 to 2017, will replace Edmund Sze-Wing Tse as chairman. The former insurance executive oversaw a major overhaul at HSBC, during which the bank scaled back operations in Western markets such as the United States, Canada, and France, as part of a broader strategic pivot toward Asia. Earlier on Friday, HSBC named Brendan Nelson, chair of its group audit committee, as interim chairman. The bank had announced on May 1 that Tucker would step down by the end of the year. Tucker will resign as chairman and board member from HSBC on September 30. "The process to select the permanent HSBC group chair, led by Ann Godbehere, senior independent director, is ongoing," the banking giant said in a statement. "Brendan's extensive experience on UK-listed boards, and as Group Audit Chair, makes him ideally placed to assume the role on an interim basis while the process continues," said Godbehere. HSBC is expected to search for Tucker's successor from its current board, sources familiar with the bank's plans told Reuters. Among the leading candidates is former Citigroup President Jamie Forese, the sources said. Nelson has previously served as an independent non-executive director at several major UK-listed companies, including oil giant BP and financial services firm NatWest.
CNA
4 days ago
- Business
- CNA
AIA Group names former HSBC Chairman Mark Tucker to succeed Edmund Tse
Hong Kong-based insurer AIA Group said on Friday that it has appointed former HSBC Chairman Mark Tucker to succeed Edmund Sze-Wing Tse, who will retire from his non-executive chair position on September 30. Tse will make way for Tucker, who previously served as AIA's executive chief and president, to assume the role. Tucker will step down as HSBC group chairman on September 30, but will remain a strategic adviser to the group CEO and the board while the search for a permanent successor continues. In a separate announcement, HSBC appointed Brendan Nelson, chair of its group audit committee, to serve as interim group chairman following the retirement of Mark Tucker.
Reuters
4 days ago
- Business
- Reuters
AIA Group names former HSBC Chairman Mark Tucker to succeed Edmund Tse
June 6 (Reuters) - Hong Kong-based insurer AIA Group ( opens new tab said on Friday that it has appointed former HSBC ( opens new tab, (HSBA.L), opens new tab Chairman Mark Tucker to succeed Edmund Sze-Wing Tse, who will retire from his non-executive chair position on September 30. Tse will make way for Tucker, who previously served as AIA's executive chief and president, to assume the role. Tucker will step down as HSBC (HSBA.L), opens new tab group chairman on September 30, but will remain a strategic adviser to the group CEO and the board while the search for a permanent successor continues. In a separate announcement, HSBC appointed Brendan Nelson, chair of its group audit committee, to serve as interim group chairman following the retirement of Mark Tucker.
