AAGIY AIA Group Ltd (PK)

By Margot Patrick 

LONDON -- HSBC Holdings PLC is set to name AIA Group Ltd. Chief Executive Mark Tucker as its next chairman, the first time the bank has hired from outside for the role in its 151 year history.

Mr. Tucker will join the bank in the fall, people familiar with the matter said Sunday, replacing outgoing HSBC veteran Douglas Flint. Mr. Tucker, currently based in Hong Kong, will relocate to London.

Mr. Flint's planned departure is the first step in refreshing the bank's leadership and setting out its next set of goals. HSBC Chief Executive Stuart Gulliver, who has said he would leave once Mr. Flint's successor is in place, is to announce he will leave the bank in 2018, a person familiar with the matter said Sunday.

That announcement, and Mr. Tucker's joining, is expected to come after AIA confirms Mr. Tucker's departure in an announcement early Monday in Hong Kong.

Write to Margot Patrick at margot.patrick@wsj.com

(END) Dow Jones Newswires

March 12, 2017 15:01 ET (19:01 GMT)

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