HSBC Holdings plc today confirmed that Brendan Nelson will assume the role of Interim Group Chair with effect from 1 October 2025.

As committed in the company’s announcement on 6 June 2025, HSBC confirms that Brendan Nelson will receive a fee of £1.5 million per annum in line with the Directors’ Remuneration Policy approved by shareholders at the 2025 AGM. He will receive no additional director fees during this period in respect of his other roles on the company, and its subsidiary HSBC UK Bank plc, boards during his tenure as Interim Group Chair.

Brendan Nelson and Sir Mark Tucker, who will step down as Group Chairman and from the Board on 30 September 2025, have undertaken a thorough handover process, in line with regulatory requirements, over recent months to support a smooth transition of responsibilities.

The process to select the permanent HSBC Group Chair, led by Ann Godbehere, Senior Independent Director, is ongoing. HSBC will provide further updates on this succession process in due course.

As previously announced, Sir Mark will remain as a strategic adviser to the Group CEO and the Board whilst the process to identify a permanent successor continues.

Mr Nelson spent over 25 years at KPMG LLP after he was admitted as a partner in 1984. He served on the KPMG UK board from 2000 and became Vice Chairman in 2006, a position he held until his retirement from KPMG in 2010. During his time at KPMG, he held various senior positions, including Global Chairman of Banking and Global Chairman of Financial Services.

He previously served as non-executive director on the boards of bp plc and of NatWest Group plc and a number of its subsidiaries. He also previously served as an independent non-executive director and chairman of the audit committee of Ulster Bank Ireland DAC.

Mr Nelson is a qualified Chartered Accountant. He was previously a member of the Financial Services Practitioner Panel, the Financial Reporting Review Panel of the UK Financial Reporting Council and was President of the Institute of Chartered Accountants of Scotland from 2013 to 2020.