Former chancellor George Osborne is in the running to become the next chair of HSBC, according to numerous reports.
Multiple sources told Sky News the ex-politician, who served as chancellor under David Cameron between 2010 and 2016, is one of three remaining candidates to take over as chair from Sir Mark Tucker.
The outlet reported Mr Osborne had been approached over the job during the summer amid a long-running hunt for Sir Mark’s successor. The bank refused to confirm or deny these reports when approached for comment by The Independent.
HSBC Holdings is the second-largest FTSE-100 company, with a market capitalisation of almost £190bn, making its chairmanship one of Britain’s top corporate jobs.
Mr Osborne’s inclusion on a list of contenders is seen as surprising due to his lack of direct banking and boardroom experience. Since leaving political office in 2017, he has held a variety of positions including the editorship of the London Standard. He is currently a partner at merger advisory firm Robey Warshaw.
Also reported to be on the shortlist are former Barclays finance director Naguib Kheraj, and Kevin Sneader of Goldman Sachs.
The banking giant launched a search for Sir Mark’s successor in May after he informed the board of his intention to end his eight-year tenure.
Sir Mark, who took on the role of chair in October 2017, has been at the helm of HSBC during crises including the Covid pandemic and the rising cost of living, and growing tensions between the US and China.
Ann Godbehere, who sits on the board and is leading the search for a successor, said Sir Mark had “provided excellent stewardship of the bank through the Covid 19 pandemic, and most recently, led the group CEO succession process”.
“Very importantly, he has also deepened the group’s relationships with key clients, regulators and investors around the world,” she added.
A HSBC spokesperson said: "Brendan Nelson was appointed interim chairman on 1 October. The process to appoint a new chairman continues and we will provide an update in due course.”
Mr Osborne could not be reached for comment.
