HSBC appoints interim chair Brendan Nelson to permanent role
AI Summary
HSBC has appointed Brendan Nelson, previously interim chair, as its permanent chair, ending a lengthy search that began after Mark Tucker announced his departure in May and left in September. The search included external candidates like George Osborne and Kevin Sneader. Nelson, a former KPMG partner who joined the board in 2023, became interim chair in October. The appointment raises questions about long-term succession planning, as Nelson had previously indicated he may not serve a full term. The role of HSBC chair has become increasingly complex, requiring navigation of geopolitical tensions between Western countries and Asia, where HSBC generates a significant portion of its profits.
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