How the chairman became the unquestioned power at this bank
The pressing management question now is whether Tucker and the board choose a CEO to keep executing the current direction, or whether there’s an opportunity to refresh things.
Harry Wilson, Laura Noonan, Donal Griffin and Ambereen Choudhury
The clock strikes 5am in New York and the calls and emails start dribbling in to managers across HSBC Holdings’ sprawling businesses.
A junior corporate finance employee receives a missive thanking him for his digest of the advisory mandates the bank was pitching on. A high-level executive is asked to produce a detailed breakdown on staff attrition data within a division of the institution.
