HSBC to pick new chair

Marion Dakers
HSBC will choose and announce a replacement for outgoing chairman Stephen Green at
a board meeting in Shanghai next Tuesday.

Current chief executive Michael Geoghegan is understood to be hopeful of his imminent appointment, given the company’s track record of elevating chief executives to the role of chairman.

However, former Goldman Sachs investment banker John Thornton is also thought to be in the running.

The bank is also considering promoting senior independent director Sir Simon Robertson to the role on a temporary basis, with a view to choosing a permanent successor in a few years’ time, people close to the bank have said.

It is unclear whether Geoghegan will stay with the bank if he does not clinch the job of chairman.

HSBC was unavailable for comment yesterday.