By Joanne Chiu

HSBC Holdings PLC (0005.HK) has appointed AIA Group Ltd. (1299.HK) Chief Executive Mark Tucker as its next chairman, the first time the bank has hired an outsider for the role in its 152 year history.

Mr. Tucker will become the non-executive chairman at the Hong Kong and London-listed banking giant in October, the bank said in Monday, replacing outgoing HSBC veteran Douglas Flint. Mr. Tucker will become the bank's group chairman designate from Sept. 1.

He will lead the process of identifying a successor to the current group chief executive officer, Stuart Gulliver, the bank added. This process is expected to conclude in 2018 in order to meet Stuart Gulliver's expressed desire to retire in that time frame.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

March 12, 2017 20:28 ET (00:28 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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