HSBC has appointed former KPMG partner Brendan Nelson as its new chair just days after meeting external candidates, ending a chaotic search process that left the crucial role vacant for months.
The 76-year-old British executive, who has been interim chair since the start of October, was seen as a long shot for the position given his limited experience in Asia where the bank generates most of its profits.
HSBC has been rushing to find a suitable candidate for one of the most prominent and demanding roles in the industry after Sir Mark Tucker unexpectedly announced this year that he would leave the position much earlier than expected.
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