HSBC Unexpectedly Taps Nelson as Chair After Tucker’s Reign

HSBC Holdings Plc unexpectedly appointed Brendan Nelson as its next chair, choosing an insider to replace hard-charging financier Mark Tucker who has led Europe’s largest lender for much of the last decade.

The decision follows a “process that considered both internal and external candidates,” the London-headquartered bank said in a statement on Wednesday. Nelson, 76, who had been serving as interim group chair since Oct. 1, joined the board in September 2023.