‘HSBC prefers AIA boss as new chair’

HSBC Holdings Plc has made insurance executive Mark Tucker the preferred candidate to be chairman, replacing Douglas Flint, according to two people familiar with the decision, as Europe’s largest bank takes the first step to overhaul its top management team. Tucker, 59, chief executive officer of AIA Group Ltd and former head of Prudential Plc, is in discussions with the bank. Flint, 61, is expected to step down after six years as executive chairman and 21 years at the bank.