HSBC chair candidates to pitch to lender's board next week

The remaining candidates to seat HSBC Holdings person been asked to transportation to the committee of Europe's biggest lender adjacent week arsenic it seeks to finalise the assignment of a successor to Sir Mark Tucker.

Sky News has learnt that the contenders for 1 of Britain's plum firm directorships - including George Osborne, the erstwhile chancellor - volition contiguous their views connected the company's strategy and governance aboriginal adjacent week.

A idiosyncratic adjacent to the slope said connected Thursday that Mr Osborne and astatine slightest 1 different candidate, thought to beryllium the erstwhile McKinsey main Kevin Sneader, were expected to conscionable HSBC's directors, including acting president Brendan Nelson.

However, Naguib Kheraj, the erstwhile Barclays concern main and ex-Standard Chartered lawman chairman, is said to person pulled retired of the recruitment process successful caller days, the HSBC insider added.

Mr Osborne's candidacy for the occupation was revealed by Sky News earlier this month.

Although helium has scant nonstop banking oregon plc boardroom experience, helium has counselled HSBC connected cardinal strategical initiatives since becoming a spouse astatine the advisory steadfast Robey Warshaw - present portion of Evercore Partners - successful 2021.

He was besides reported to person intervened connected HSBC's behalf arsenic it sought to debar prosecution successful the US successful 2012 connected wealth laundering charges.

Mr Osborne, who was chancellor from 2010 until 2016, has amassed a portfolio of different firm directorships, portion helium besides chairs the British Museum.

With a marketplace capitalisation of astir £180bn, HSBC is the second-largest FTSE-100 institution aft drugs elephantine AstraZeneca.

The slope has been looking for a replacement for Sir Mark for astir a year, but has tally what outer critics person described arsenic a chaotic succession process.

Sir Mark, who has returned to the helm of insurer AIA arsenic its non-executive chairman, stepped down astatine the extremity of September, but remains an advisor to the board.

HSBC's shares person soared implicit the past year, rising by much than 40%, contempt the headwinds posed by President Donald Trump's sweeping planetary tariffs regime.

Its biggest strategical determination successful 2025 has been to connection $14bn to bargain the remaining shares of Hong Kong's Hang Seng Bank.

When helium was appointed, Sir Mark became the archetypal outsider to instrumentality the station successful the bank's 152-year past - and which has a large beingness connected the precocious thoroughfare acknowledgment to its acquisition of the Midland Bank successful 1992.

He oversaw a accelerated alteration of leadership, appointing slope seasoned John Flint to regenerate Stuart Gulliver arsenic main executive.

The modulation did not enactment out, however, with Mr Tucker deciding to sack Mr Flint aft conscionable 18 months.

He was replaced connected an interim ground by Noel Quinn successful the summertime of 2018, with that alteration becoming imperishable successful April 2020.

Mr Quinn spent a further 4 years successful the station earlier deciding to measurement down, and successful July 2024 helium was succeeded by Georges Elhedery, a long-serving enforcement successful HSBC's markets portion and much precocious the bank's main fiscal officer.

The caller chief's archetypal large determination successful the apical occupation was to unveil a sweeping reorganisation of HSBC that sees it reshaped into eastbound markets and occidental markets businesses.

He besides decided to merge its commercialized and concern banking operations into a azygous division.

The restructuring, which Mr Elhedery said would "result successful a simpler, much dynamic, and agile organisation" has drawn a mixed absorption from analysts, though it has not interrupted a beardown tally for the stock.

During Sir Mark's tenure, HSBC continued to exit non-core markets, selling operations successful countries specified arsenic Canada and France arsenic it sharpened its absorption connected its Asian operations.

In precocious September, HSBC said successful a statement: The process to prime the imperishable HSBC Group Chair, led by Ann Godbehere, Senior Independent Director, is ongoing.

"The institution volition supply further updates connected this succession process successful owed course."

HSBC has been contacted for comment.