HSBC’s longtime chair Sir Mark Tucker will step down in September to become non-executive chair of Hong Kong-based insurer AIA. Tucker, who has served as chair of the UK-headquartered bank for nearly eight years, had said last month he would retire from the board.

HSBC Group Chairman Mark Tucker will return to Hong Kong-based insurer AIA Group as its new group board chairman. Tucker will step down from his role at HSBC and resign from the board on Sept. 30, the bank said Friday.

Hong Kong-based insurer AIA Group said on Friday that it has appointed former HSBC , Chairman Mark Tucker to succeed Edmund Sze-Wing Tse, who will retire from his non-executive chair position on September 30.