Taking on “the best job in banking” from 1 September 2017, he will become non-executive group chairman on 1 October, replacing Douglas Flint, who has been with the group for 22 years.
Tucker is charged with leading the recruitment process to find a successor to current group chief executive Stuart Gulliver.
Currently group chief executive and president of Hong Kong-based life insurer AIA Group, Tucker is best known in the UK for his time served at Prudential.
He was founder and chief executive of Prudential Corporation Asia and sat on Prudential’s board for 10 years, having been group chief executive from 2005 to 2009.
As a non-executive director (NED), he served on the Court of the Bank of England from June 2009 to May 2012, with seats on both its Financial Stability and Audit and Risk Committees.
Tucker has also been an independent NED of Goldman Sachs since 2012, but will step down before taking up his board seat at HSBC.
He has secured a £1.5m pay packet alongside a £300,000 relocation fee to facilitate his move from Hong Kong back to London.
Rachel Lomax, HSBC senior independent director, who led the appointment process along with Sam Laidlaw, chairman of the Nomination Committee, said Tucker has the “rare combination of experience demanded by the HSBC board.”
She added: “He has a long track record of successful leadership of complex financial services businesses in both Asia and the UK.
“As chief executive of two major financial services groups and through his non-executive roles at the Bank of England and Goldman Sachs, he also has extensive experience and understanding of the regulatory frameworks within which international financial services groups such as HSBC now operate.”
She thanked Flint for his dedicated service over a “long and distinguished career”.
Flint said: “I wish Mark Tucker all the very best as he succeeds me to take on the best job in banking.
“It has been an extraordinary privilege to serve both as Group Finance Director and Group Chairman of HSBC over nearly 22 years.
