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- New Law Bans Kaspersky Software from Use in U.S. Government
- I Owned Bitcoin For a Weekend and Here's What I Learned
- SEC Appoints New Chair and Board Members to PCAOB
- FINRA, Georgetown Team Up to Deliver 'Certified Regulatory and Compliance Professional' Program
- FINRA Board Meeting - This Week's Agenda
- Statement on Cryptocurrencies and Initial Coin Offerings - SEC Chair Clayton
- Company Halts Initial Coin Offering Over SEC Registration Concerns
- Kevin O'Leary Explains One Big Thing People Don't Understand About Bitcoin (But Need To)
- CME Bitcoin Futures: A Better Way to Buy (or Short) Bitcoin?
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
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NEWSLETTERS & ALERTS
HSBC Names New CEO
[Photo: Bloomberg News]
HSBC Holdings has named insurance executive Mark Tucker as Chairman of the bank. Tucker will succeed Douglas Flint, effective 10/1/17. Mr. Tucker, 59, is CEO of AIA Group and former head of Prudential. Flint, 61, will be stepping down after 6 years as Executive Chair and 21 years at the bank. Once installed, the bank will seek a successor to CEO Stuart Gulliver.
For the past several years, HSBC has been undergoing a reorganization that has seen the bank cut more than 87,000 jobs, exit more than 80 business lines, separate its retail bank from the investment bank in the U.K., and respond to the economic implications of Brexit. All the while, HSBC has continued its struggles to generate increasing profits, compliance with demanding regulation throughout the world – particularly as it pertains to AML.
MARK TUCKER. Tucker played professional soccer in his early life but moved onto accounting at PricewaterhouseCoopers. He joined Prudential in 1986, initially working for Prudential Portfolio Managers. He progressed through various roles in the U.K., Hong Kong, and the U.S., where he was an SVP at Jackson National Life from 1992 to 1993. He was appointed CEO of Prudential Corporation Asia and an executive director of Prudential plc, but left the group in May 2004 to join HBOS as Finance Director.
Tucker rejoined Prudential in March 2005 as CEO, and served in that position until September 2009, when he stepped down for personal reasons. Tucker joined AIA Group in July 2010 and, since October 2010, has served as Chairman and CEO of AIA Co. and AIA International. Tucker is also on the Board of Directors of Goldman Sachs.