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The remaining candidates to chair HSBC Holdings have been asked to pitch to the board of Europe’s biggest lender next week as it seeks to finalise the appointment of a successor to Sir Mark Tucker.
Sky News has learnt the contenders for one of Britain’s plum corporate directorships – including George Osborne, the former chancellor – will present their views on the company’s strategy and governance early next week.
A person close to the bank said on Thursday that Mr Osborne and at least one other candidate, thought to be the former McKinsey chief Kevin Sneader, were expected to meet HSBC’s directors, including acting chairman Brendan Nelson.
However, Naguib Kheraj, the former Barclays finance chief and ex-Standard Chartered deputy chairman, is said to have pulled out of the recruitment process in recent days, the HSBC insider added.
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Mr Osborne’s candidacy for the job was revealed by Sky News earlier this month.
Although he has scant direct banking or plc boardroom experience, he has counselled HSBC on key strategic initiatives since becoming a partner at the advisory firm Robey Warshaw – now part of Evercore Partners – in 2021.
He was also reported to have intervened on HSBC’s behalf as it sought to avoid prosecution in the US in 2012 on money laundering charges.
Mr Osborne, who was chancellor from 2010 until 2016, has amassed a portfolio of other corporate directorships, while he also chairs the British Museum.
With a market capitalisation of almost £180bn, HSBC is the second-largest FTSE-100 company after drugs giant AstraZeneca.
The bank has been looking for a replacement for Sir Mark for nearly a year, but has run what external critics have described as a chaotic succession process.
Sir Mark, who has returned to the helm of insurer AIA as its non-executive chairman, stepped down at the end of September, but remains an adviser to the…
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