HSBC launches search for boss
Former head of insurance group has been approached, say sources, as bank looks inside and out for candidates
London — HSBC Holdings has approached Peter Hancock, the former boss of global insurance group American International, to be its next CEO as incoming chairman Mark Tucker considers internal and external candidates to lead Europe’s largest bank, says a person familiar with the matter. The board had contacted Hancock, a 59-year-old former JPMorgan banker, as a potential replacement for Stuart Gulliver, who is retiring in 2018, said the person, who asked not to be identified because of the sensitivity about succession issues. In the meantime, top HSBC executives seeking the CEO role are said to have had informal talks with Tucker, according to other sources. Before the appointment of Tucker, also 59, who replaces Douglas Flint in October, HSBC had drawn every one of its previous 21 leaders from its own ranks for more than 150 years, according to the bank’s records. The board responded to calls from shareholders for greater independent oversight after five years of slumping revenue and ...
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