Oxford-educated economics graduate Peter Hancock is no stranger to the big roles in finance, having spent two decades at JPMorgan and run embattled US insurer American International Group during a near-40-year career.

Bloomberg, citing a person familiar with the matter, reported today that UK banking group HSBC has approached Hancock, who stepped down from AIG earlier this year, to succeed chief executive Stuart Gulliver when he retires in 2018.