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- FINRA Disciplinary Actions for March 2018
- Ex-Deutsche Bank Trader Pleads Guilty Over Euribor Rigging
- SEC Proposes Transaction Fee Pilot for NMS Stocks
- FINRA Board of Governors Meeting - March 2018
- Winklevoss Twins Have a Plan to Police Cryptocurrency Trading
- Trump Picks Larry Kudlow as New Top Economic Adviser, Source Says
- A Decade On, Was Bear a Bad Deal for JPMorgan?
- Theranos, Its CEO and Former President Charged With Massive Fraud
- Wall Street's ‘Diva of Distressed’ Throws Her Funds Into Bankruptcy
- How a Former NBA #1 Draft Pick Went From $61Mn Fortune to Owing $157K
- Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits
- Trump Fires Secretary of State Tillerson - Picks CIA Director Pompeo
- Credit Karma, Pre-IPO FinTech Company, Violated Rule 701 Disclosure Requirements - SEC
- Goldman Sachs' Schwartz Retires, Paves Way for Solomon as Next CEO
- Damning Emails: Trump's Lawyer Used Trump Organization Email in Hush-Money Negotiations with Porn Star Stormy Daniels
- 'Pharma Bro' Martin Shkreli Sentenced to 7 Years In Prison - Says 'This is My Fault'
- FINRA Investor Alert: Lost Property - Don't Be Escheated Out of Your Savings or Investments
- Analyst Dick Bove Calls Possible Blankfein Exit from Goldman 'Wonderful' News
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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.