HSBC chairman Stephen Green could stun the City by resigning to become the coalition government’s trade minister, it was reported last night.
Green has been named as the frontrunner to take up the post after months of searching by Prime Minister David Cameron. He would succeed Lord Davies, who was lured away from Standard Chartered by former PM Gordon Brown in 2009.
Other people sounded out for the role include Rolls Royce’s Sir John Rose, outgoing Marks & Spencer chairman Sir Stuart Rose and BAE Systems’ Dick Olver, according to Sky News. An announcement could be made as early as this morning.
HSBC declined to comment. Downing Street said it had no comment but any appointment would be revealed “in due course”.
The departure of Green from?HSBC, where he has worked for nearly 30 years, would be a blow for the bank.