The bank, once a herald of globalisation, is struggling to placate investors amid US-China trade wars and crisis in Hong Kong
When Mark Tucker arrived as HSBC’s new chairman on a cloudy London day in October 2017, he was prepared for a challenge. The former insurance boss was the first outsider to lead the now 157-year-old bank, which was in the middle of a period of intense upheaval. HSBC was slimming down its investment bank, selling poorly performing businesses and slashing thousands of jobs as it tried to adapt to the post-financial-crisis era.
While Tucker was well equipped to guide the lender through that period of turmoil, he must now wrestle with a far bigger existential question – should the bank be broken up?
