Yahoo Finance

HSBC Chairman Mark Tucker will step down this year, kicking off a hunt for a leader who can steer the Asia-focused bank through a trade war that threatens its efforts to bridge China and the West. Tucker, 67 years old, has told the board he intends to retire as chair by the end of 2025, about a year ahead of a term limit dictated by U.K. guidelines on corporate governance. The bank said he would stay on as an adviser to HSBC’s recently appointed chief executive, Georges Elhedery, before a permanent successor is in place.