HSBC Holdings (HKG:0005) has approached Kevin Sneader, the former global head of McKinsey & Company, about replacing Mark Tucker as chairman, Sky News reported Friday.

Sneader, voted out of McKinsey in 2021 amid reputational challenges linked to the firm's role in the US opioid crisis, is among several names being considered by HSBC's board nomination committee, the report said. The identities of the other contenders remain unclear, the report added.

Since departing McKinsey, Sneader has taken a senior position at Goldman Sachs, serving as president of Asia-Pacific (excluding Japan) and joining the Wall Street bank's partner ranks, the report said.

While Sneader brings global leadership experience, his lack of background chairing a UK-listed company and the circumstances of his McKinsey exit could weigh against him, Sky News reported.

On Friday, it was reported that Mark Tucker will step down in September and return to chair Hong Kong-based insurer AIA, which he previously led. In the interim, Brendan Nelson will take over as chair, with senior independent director Ann Godbehere heading the search for a permanent successor.

Sky News said Tucker, the first outsider to chair HSBC in its 152-year history, led a swift leadership shake-up, appointing and later ousting CEO John Flint, who was succeeded by Noel Quinn and now Georges Elhedery.

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