Mark Tucker took the reigns at HSBC late last year but he is already dining at the top table.
HSBC tapped outsider Mark Tucker for its top job late last year. The new position came with challenges, a number of regulatory and compliance issues in various jurisdictions and the long shadow of Brexit to name a couple.
His bank has also had major issues in the U.S., HSBC has shelled out several fines for regulatory wrongdoings including a $1.2 billion penalty for money laundering on behalf of Mexican drug cartels.
This week in Davos though Tucker was the only banker invited to dine with U.S. President Donald Trump. The chief executives of Swiss banks UBS and Credit Suisse will have been miffed at being blanked, or perhaps relieved.
Pivot to Asia
Tucker though knows Asia well and that is perhaps one main reason why he was present at the exclusive Davos dinner. HSBC generates the majority of its revenue in Asia and has pledged to deepen its commitment there, especially in the Pearl River Delta which has become China's financial technology hub.
However Trump's tough stance towards China which ramped up a notch this week, could be costly to HSBC's business. The new relationship formed in the Swiss alps might turn out be one of Tuckers' most demanding.
