U.K.-headquartered HSBC Holdings' board has appointed headhunters to start the recruitment of its next chairman to succeed Mark Tucker, Sky News reported on Saturday.

The London-listed, Asia-focused bank will consider both existing non-executive directors and outsiders to succeed Tucker, the report said, citing sources.

The bank has appointed headhunters including MWM Consulting to run the process, the report added.

HSBC Holdings did not immediately respond to Reuters' request for comment.

Tucker joined Europe's biggest bank from Hong Kong-based insurer AIA in March 2017, when HSBC broke tradition by choosing an outsider to replace veteran Douglas Flint.