HSBC Picks New Chair, Completing Leadership Shakeup [Barron's]
HANG SENG BANK LTD S/ADR (HSNGY)
NASDAQ:AMEX Investor Relations:
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Source: Barrons
Nelson, 76, replaces Mark Tucker who helped steer the Asia-focused bank for eight years. Advertisement - Scroll to Continue The London-headquartered bank already switched chief executives in September 2024, with Georges Elhedery replacing Noel Quinn who had been in charge for around five years. "I look forward to continuing to work with the board, Georges and the wider management team as we deliver on our strategic and financial objectives," Nelson said in a statement confirming his appointment. Under Quinn and Tucker, the bank carried out major restructuring, including hefty job losses, and oversaw the bank's pivot towards Asia, where it generates most of its revenue. Nelson, who in a previous senior role at KPMG advised and audited international banks, had been interim chair of HSBC since October. Advertisement - Scroll to Continue He also served on the board of British energy group BP. Following news of Nelson's appointment, shares in HSBC fell 0.7 in early deals o
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