Former chancellor George Osborne reportedly in running to be chairman of HSBC
Former chancellor George Osborne is in the running to become the next chairman of HSBC, according to multiple reports.
More than one source told Sky News The former politician, who served as chancellor under David Cameron between 2010 and 2016, is one of three remaining candidates to take over the presidency from Sir Mark Tucker.
The publication reported that Mr Osborne was approached for the job in the summer during a long-running search to find Sir Tucker’s successor. The bank declined to confirm or deny these reports when approached for comment. Independent.
HSBC Holdings is the second largest company in the FTSE-100, with a market capitalization of around £190bn, making its chairmanship one of Britain’s most important corporate jobs.
Mr Osborne’s inclusion in the shortlist is seen as surprising given his lack of direct banking and boardroom experience. Since leaving political office in 2017, he has held a variety of roles, including editor of the London Evening Standard. He is currently a partner at merger advisory firm Robey Warshaw.
The shortlist also reportedly includes former Barclays finance director Naguib Kheraj and Goldman Sachs’ Kevin Sneader.
The banking giant began searching for Sir Tucker’s successor in May after he informed the board of his intention to end his eight-year term in office.
Sir Tucker, who took over the chairmanship in October 2017, was at the helm of HSBC during crises such as the Covid epidemic and the rising cost of living, and increasing tensions between the USA and China.
Ann Godbehere, who sits on the board and led the search for a successor, said Mr Tucker had “provided excellent management of the bank during the Covid-19 pandemic and most recently led the group CEO succession process”.
“Most importantly, it has also deepened the group’s relationships with key customers, regulators and investors around the world,” he added.
An HSBC spokesman said: “Brendan Nelson was appointed interim chairman on 1 October. The process to appoint a new chairman is ongoing and we will provide an update in due course.”
Mr. Osborne could not be reached for comment.
