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HSBC Faces Boardroom Divide in Search for New Chair
18 Nov
Summary
- HSBC's board divided over qualified candidates for chair role
- Former UK chancellor George Osborne emerges as contender
- Bank renews approach to other candidates previously rejected
As of November 18, 2025, HSBC, Europe's largest lender, is facing a challenge in finding a replacement for its outgoing chair, Mark Tucker. The bank's board, all of whom joined after Tucker began his tenure in 2017, are divided over who should progress as a candidate for the role.
The board members have differing opinions on whether certain candidates possess the crucial requirements of financial services experience and in-depth knowledge of Asia. This has led to a delay in vetting the candidates, with the board unable to decide whether to advance them.
HSBC has approached a number of candidates it had previously discounted, including former UK chancellor George Osborne, who has emerged as a contender for the role after being initially passed over. The bank has also renewed its approach to other potential candidates, such as Goldman Sachs executive Kevin Sneader and HSBC's former chief executive Stuart Gulliver.
The inability to find a replacement for Tucker, who resigned earlier than expected, has created uncertainty for the UK's second-largest listed company and raised questions about its succession planning. Regulators have questioned the bank's leadership over why it was not better prepared for Tucker's departure.
