HSBC HOLDINGS(US:HSBC) Zhi Tong Cai Jing·2025-12-04 12:49Core Viewpoint - The appointment of Brendan Nelson as the permanent chairman of HSBC has raised concerns regarding the bank's strategic direction and long-term vision, particularly in its Asian operations [1][2]. Group 1: Appointment Process - HSBC's decision to appoint Nelson followed a lengthy search for external candidates, which included notable figures such as former UK Chancellor George Osborne and Goldman Sachs' Asia-Pacific head Kevin Sneader [1]. - The appointment was unexpected, especially after CEO Georges Elhedery suggested that Nelson might not serve in the role long-term [1][2]. - The process has been described as chaotic, leading to serious concerns about succession planning and the company's long-term vision [2]. Group 2: Investor Reactions - Some investors expressed disappointment with the hiring process, indicating that while Nelson may be a suitable candidate, the outcome is unsatisfactory for the company [2]. - A former top 20 HSBC shareholder emphasized the importance of understanding the rationale behind the appointment [2]. Group 3: Nelson's Role and Authority - Nelson's primary responsibility will be to oversee CEO Elhedery's management and strategic reforms initiated since he took office in September 2024 [2]. - Analysts noted that Elhedery's comments prior to Nelson's appointment could undermine the new chairman's authority, as Elhedery indicated that Nelson was hesitant to commit to a full term [2][3]. - Experts suggest that Nelson's age may limit his tenure, viewing the role as potentially transitional [3]. Group 4: Future Implications - The appointment of Nelson may alleviate immediate pressures but has not quelled speculation that HSBC will continue searching for a long-term successor [3]. - Analysts believe that the decision to appoint Nelson was an attempt to dispel ongoing speculation, yet doubts remain about the continuation of the search for a permanent replacement [3].