John Thornton among candidates for HSBC’s new chairman, reports claim

9 September 2010

John Thornton, a non-executive director at HSBC, is thought to be one of the potential candidates to take over the role of Stephen Green as chairman of the bank.

Michael Geoghegan, chief executive at HSBC, has also been named in reports among those executives who may succeed Mr Green to the post.

He is expected to stand down from the role in 2011 after being named as the UK’s new minister for trade and investment on September 7th.

The unpaid position will involve promoting the UK as a destination for international trade as well as an exporter of services and goods.

Mr Green said: “It is an honour to accept this new role with Her Majesty’s government, serving Britain in the vital areas of trade and investment.

“In an increasingly competitive and international world, trade and investment are ever more critical to Britain’s economic success and I am delighted to be joining the government at this exciting and challenging time.”

He is expected to step down from the position before the end of 2010.

By Jim Ottewill

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