Speculation has been mounting in recent days that former Standard Life chief executive David Nish could be a strong internal candidate to succeed fellow Scot Douglas Flint as chairman of global banking and financial services giant HSBC Holdings.

Flint is due to retire next year.

Before Standard Life, Nish was group finance director of Scottish Power and spent 16 years at Price Waterhouse.

HSBC appointed Nish, 56, to its board as an independent non-executive director in March. 

At that time, Flint said: “I am delighted to welcome David Nish to the HSBC board.

“David brings considerable relevant experience in financial services as well as in financial accounting and reporting. 

“His tenure at Standard Life was marked by business transformation delivering value creation, a combination which HSBC is similarly targeting from its current strategy. 

“David also has a wide-ranging understanding of all aspects of corporate governance which will further enhance the contribution he can make to the board.”