Sir Mark Tucker is due to step down as HSBC group chair today, having completed his eight-year tenure. The Financial Times reported in June that Brendan Nelson, the head of the banking group’s audit committee, would take over as interim chair. The search for a permanent successor, led by senior independent non-exec Ann Godbehere, has been under way since Tucker announced in May his intention to depart.

Tucker will return to AIA Insurance Group, where he was group chief executive and president of the group before leaving to join HSBC. Before AIA he was group chief executive of Prudential plc. Tucker has served on the court of The Bank of England and also on the board of the Goldman Sachs Group.

In the UK, Tucker chairs the UK Multinational Chairmen’s Group and is supporting chair of Chapter Zero. He also belongs to the Trade Finance Advisory Group of the International Chamber of Commerce and the UK Department of Trade’s Financial Services Trade Advisory Group.

Lee Yuan Siong, AIA group chief executive and president, said: “We are delighted to welcome back Sir Mark Tucker as our Independent Chairman. … Sir Mark’s very strong international reputation has only grown in the intervening years, and we look forward to benefiting from his deep experience in financial services and his passion for Asia as he leads our Board forward.”