Tucker, a qualified chartered accountant who has been group chairman of HSBC since 2017, will succeed John McFarlane, who will step down from the role on the 31 May.
Expressing his gratitude for the new role and paying tribute to his predecessor, Tucker also warned of the challenges ahead.
“We are facing a period of transformation driven by changing international relationships and technology and we must work together to secure the future of the UK’s international competitiveness,” said Tucker.
“We also have the ongoing challenge of demonstrating the purpose and value that our industry brings to the people we serve and the communities in which we operate,” he said.
Tucker has more than 30 years’ experience in the financial services sector, both in the UK and Asia, 25 of which were spent working in Hong Kong.
Formerly the group chief executive and president of AIA Group, Tucker also held various senior roles at Prudential including as founding chief executive of Prudential Corporation Asia between 1994 and 2003.
He served as group finance director for HBOS between 2004 and 2005, a non-executive director of the Goldman Sachs Group between 2012 and 2017 and between 2009 and 2012 was on the Court of the Bank of England as a non-executive director. During this time he was a member of both the financial stability and audit and risks committees.
Tucker is an associate professor at the Chinese University of Hong Kong, serves on the board of the Asia Business Council and the advisory board of the Asia Global Institute.