04:55 AM EST, 12/02/2024 (MT Newswires) -- HSBC Holdings ( HSBC ) will launch a search process to find a successor for Chairman Mark Tucker, who has held the role since 2017, Sky News reported Saturday.

City sources told Sky News that MWM Consulting is among the search firms being coordinated to manage the process.

The report said Tucker is expected to step down around the time of HSBC's ( HSBC ) 2026 annual meeting, though the departure could come sooner based on the the speed of the search process.

HSBC ( HSBC ) declined MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)