HONG KONG: Banking giant HSBC announced the appointment of
a new chairman Monday as part of a management overhaul that will also see it
choose a new chief executive, following a massive drop in profits in 2016.
British businessman Mark Tucker, currently group chief executive
and president of insurance group AIA, will take over from Douglas Flint in
October.
He will lead the hunt for a new CEO to replace Stuart Gulliver
who is set to retire in 2018, the bank said in a statement to the Hong Kong
stock exchange.—AFP
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