HSBC Holdings Plc has made insurance executive Mark Tucker the preferred candidate to be chairman, replacing Douglas Flint, according to two people familiar with the decision, as Europe’s largest bank takes the first step to overhaul its top management team. Tucker, 59, chief executive officer of AIA Group Ltd. and former head of Prudential Plc, is in discussions with the bank, according to the people who asked not to be identified because the succession process is private.
Category: HSBC Holding
HSBC Misses Profit Estimates on Revenue Drop, Deepens Cost Cuts
HSBC Holdings Plc’s fourth-quarter profit missed estimates on a surprise drop in revenue as the bank said it will boost cost-cutting measures and extend a stock buyback. Adjusted pretax profit, which excludes one-time items, jumped 39 percent to $2.62 billion, Europe’s largest bank said in a statement on Tuesday.
HSBC Miss Full-Year Profits on Private Banking Writedown; Boosts Share Buyback
HSBC posted much lower-than-expected full year earnings and increased its share buyback program after taking a multi-billion dollar writedown on its European private banking assets. HSBC plc posted much lower-than-expected full year earnings and increased its share buyback program after taking a multi-billion dollar writedown on its European private banking assets.
HSBC’s Profit Misses Estimates as Lender Extends Stock Buyback
HSBC Holdings Plc’s fourth-quarter profit missed estimates amid lower revenue, as the lender extended a stock buyback that has driven its London shares to a three-year high. Adjusted pretax profit, which excludes one-time items, jumped 39 percent to $2.62 billion, Europe’s largest bank said in a statement on Tuesday.