The torturous search for HSBC’s next chair appeared to have finally narrowed to a two-horse race: Goldman Sachs executive Kevin Sneader was pitted last week against former UK chancellor George Osborne.
But when Sneader and Osborne turned up to the bank’s London headquarters on Monday to present their vision for the role and be quizzed by board members, there was one person missing from the conclave: HSBC’s interim chair, Brendan Nelson.
It was the first clear sign that Nelson, 76, was a serious contender for the role after HSBC had previously discounted him as a permanent successor to Sir Mark Tucker, according to people familiar with the process.
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