HSBC must prioritise Asia expertise in CEO search

Tough job: Tucker during an informal shareholders meeting in Hong Kong last month. Pressure is mounting on HSBC to reassert its position before ambitious Chinese rivals steal more of its customers and slowly erode its Hong Kong dominance. — Bloomberg

UNDER chief executive Noel Quinn, HSBC navigated a global pandemic and a push by rebel investors to break up the 160-year bank. His surprise departure is an opportunity to accelerate its strategic pivot to Asia, say investors.

Top of chairman Mark Tucker’s CEO wishlist for replacing Quinn, who gave notice of his departure on Tuesday, should be someone who can galvanise the bank’s 220,000-strong workforce to meet those goals in an uncertain global economy and amid rising tensions between East and West.