Aftercompleting the firm’s plannedIPO, Tuckermaybid for PrudentialAsia Corp., the unit he ran from 1993 to 2003, according to PanmureGordon &Co.’s BarrieCornes.
"We suspect that the latest batch of negative headlines over the remuneration report at the AGM was the last straw and Moss had to go, " said Barrie Cornes at PanmureGordon stockbrokers.
PanmureGordon analyst Sandy Chen also points out that, as prudent as HSBC has been with its investment banking business, it has made some opportunistic acquisitions of distressed assets in the past, most notably in the case of Household International in the United States.