AIA names new CEO as Tucker moves to HSBC

Singapore

HONG KONG-LISTED insurer AIA Group will have a new chief after its former chief executive of seven years moves to Europe's biggest lender HSBC to take up the role of non-executive group chairman.

Mark Tucker, the insurer's former group CEO and president, will succeed outgoing HSBC veteran Douglas Flint as chairman on Oct 1, marking the first time the British bank has hired an outsider in its 152-year history.

Ng Keng Hooi, AIA's regional chief executive, has been named group CEO and president designate with immediate effect. He will succeed Mr Tucker, whom he has worked with for over two decades, as group CEO and president from Sept 1.

When asked who will take over as AIA's regional chief, the insurer told The Business Times that it "has significant breadth and depth in our leadership ranks", addin…