HSBC Holdings has confirmed that Brendan Nelson will take over as Interim Group Chair on 1 October 2025, following the departure of Sir Mark Tucker, who steps down after more than six years in the role.
HSBC Confirms Brendan Nelson as Interim Group Chair from October
Nelson, who currently serves on the boards of both HSBC Holdings and HSBC UK Bank, will receive an annual fee of £1.5 million in line with the company’s remuneration policy approved at the 2025 annual general meeting.
He will not receive any additional director fees during his interim tenure.
The bank said Nelson and Sir Mark had “undertaken a thorough handover process, in line with regulatory requirements, over recent months to support a smooth transition of responsibilities.”
The search for a permanent Group Chair is continuing, led by Ann Godbehere, HSBC’s senior independent director. The company said further updates on the succession process will be provided in due course.
Sir Mark will remain involved with the bank as a strategic adviser to Group Chief Executive Noel Quinn and the board until a permanent successor is appointed.
Nelson, a former chair of the Financial Reporting Council and long-serving KPMG partner, has been on HSBC’s board since 2018.
HSBC said the leadership transition underscores its commitment to continuity and stability during the search for a long-term successor.
