PRESS: HSBC renews search for new chair? Financial Times

HSBC Holdings PLC is struggling to find a suitable candidate to replace Chair Mark Tucker, the Financial Times reported Saturday.

The London-based bank launched a new start to succeed Tucker as it has not been able to find enough suitable candidates for its final shortlist among over 100 names that were originally considered for the position.

HSBC had considered executives from Zurich Insurance Group AG, Goldman Sachs Group Inc and Lloyd’s of London, but candidates were unavailable or had declined, the FT cited people familiar with the matter.

HSBC has not ruled out appointing one of its current board members as chair if it cannot find a suitable replacement.

Independent Non-Executive Director Brendan Nelson is set to become interim chair on October 1, HSBC had announced in June.

HSBC shares had closed 0.3% lower at 930.20 pence each on Friday in London, giving it a market capitalisation of $216.77 billion.

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