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Case 17-10249-LSS Doc 173 Filed 03/15/17 Page 1 of 2 Case 17-10249-LSS Doc 173 Filed 03/15/17 Page 2 of 2 C M Y K Nxxx,2017-03-13,B,006,Bs-BW,E2 B6 0 N THE NEW YORK TIMES, MONDAY, MARCH 13, 2017 Its Eye on Asian Profits, OBITUARIES HSBC Picks an Outsider John Surtees, Two- and Four-Wheel Champ, Dies at 83 By RICHARD GOLDSTEIN By CHAD BRAY He also spent a year as the group John Surtees, an Englishman A driver who switched LONDON — Mark Tucker, chief finance director of HBOS, a who won seven world motorcycle executive of the Asian life insurer British bank that nearly collapsed championships, then switched to from motorcycles AIA Group, is set to replace Doug- during the financial crisis and is auto racing and captured the 1964 las Flint as chairman of HSBC in now part of Lloyds Banking Formula One points title, becom- to Formula One. October, the bank said on Sunday. Group. ing the only racer to hold both two- and four-wheel world crowns, Mr. Tucker, 59, would be the first Mr. Tucker has been a director died on Friday in London. He was outsider to take the chairman’s of Goldman Sachs since 2012 and Surtees. His father owned a cy- 83. role at HSBC as the bank, which is will leave the Goldman board cling shop in addition to compet- He was being treated for a res- based in London but generates when he joins HSBC as a director ing. piratory ailment at his death, his much of its profit in Asia, reshapes in September. He will take over In 1958, when he was becoming family said in a statement. its leadership. He is expected to the chairman’s role when Mr. Flint the dominant figure in world cy- Surtees was among Britain’s relocate from Hong Kong to Lon- steps down the following month. cling, Surtees was at a sports- most heralded auto racers of the don for the role. In their time together leading men’s dinner with Mike 1960s, joining Graham Hill, Jim HSBC, Mr. Flint and Mr. Gulliver Hawthorn, who had become One of Mr. Tucker’s first duties Clark and Jackie Stewart as For- have overseen a period of great Britain’s first Formula One cham- would be to lead the search for a mula One champions in that dec- change for the bank, navigating a pion that year. “John, try a car replacement for HSBC’s chief ex- ade. difficult business environment sometime,” Hawthorn told Sur- ecutive, Stuart Gulliver, who plans “As long as I can remember, and greater scrutiny and capital KEYSTONE/HULTON ARCHIVE tees, according to Britain’s Tele- to retire. The bank has shaken up speed and machines have been a demands by regulators after the graph newspaper. “They stand up its board in the past year, adding part of me,” Surtees told The financial crisis. John Surtees, easier.” four new independent directors. Associated Press in the spring of Mr. Gulliver, 58, joined the bank above, practic- Mr. Tucker’s appointment came 1966 as he returned to auto racing And so he did, finishing second in 1980 and has been its chief exec- ing for a nearly a year after the lender an- after a crash in Canada in 1965 that in the British Grand Prix in 1960, utive since 2011. motorcycle nounced that it had begun a almost took his life. his debut year in auto racing, and In recent years, the bank has search to replace Mr. Flint, who While barely into his teens, Sur- Grand Prix he left the motorcycle circuit after has been chairman since 2010. Mr. significantly reshaped its opera- tees rode in a sidecar, alongside race in Monza, that season. Flint, 61, arrived at HSBC in 1995 tions by shedding tens of thou- his father, who competed in Italy, in 1957 Surtees joined Ferrari in 1963 and joined the board later that sands of jobs, selling underper- motorcycle races. Surtees went on and, left, in a and won the 1966 Belgian Grand year as group finance director. forming businesses and shrinking to win four world motorcycle titles Formula One Prix but quit the team in midsea- its global investment banking son after a dispute with manage- “We are delighted that in Mark with 500-cubic-centimeter en- auto race in Tucker, we have secured someone business. ment. He raced mostly for Honda gines and three others in the 350- Silverstone, who possesses the rare combina- Last year, HSBC, which was c.c. division from 1956 through afterward, winning for the last tion of experience demanded by founded in 1865 in Hong Kong as 1960, representing Italy’s M.V. Au- England, 10 time in Formula One at the 1967 the HSBC board,” Rachel Lomax, the Hongkong and Shanghai gusta team. He was known to Ital- years later. Italian Grand Prix. HSBC’s senior independent direc- Banking Corporation, decided to ians as Figlio del Vento — Son of RONALD DUMONT/HULTON ARCHIVE He formed his own team in 1970, tor, and Sam Laidlaw, chairman of keep its headquarters in Britain the Wind. built his own cars and drove for the company’s nomination com- after a lengthy review. In an- Surtees embarked on Formula the machines, especially the but ultimately I healed almost the team until retiring as a com- mittee, said in a news release. nouncing its decision last Febru- One racing in 1960. Driving a Fer- bikes,” he told The New York completely,” he recalled. petitive racer in 1972. The team “He has a long track record of ary, HSBC said that Asia re- rari, he won the world champi- Times in 2012. “Today, drivers In July 2009, Surtees’s son, never won a Formula One race successful leadership of complex mained “at the heart of the group’s onship four years later by a single have probably more of a chance to Henry, died at 18 while driving in a and folded after the 1978 season, financial services businesses in strategy.” point over Hill. push the equipment to the limit.” Formula Two race at the Brands having had difficulty securing both Asia and the U.K.” HSBC has also undergone the Surtees won six Formula One He was critically injured in a Hatch track in England after he sponsorships. As chairman, Mr. Tucker will re- expensive process of races over all, four with Ferrari, 1965 practice run for a race at Mo- was struck in the head by a flying Surtees’s survivors include his ceive an annual salary of 1.5 mil- strengthening its financial-crime and captured the first Canadian- sport Park (now Canadian Tire wheel that had came off a car that wife, the former Jane Sparrow, lion pounds, or about $1.8 million. compliance after reaching a $1.9 American Challenge Cup series in Motorsport Park) in Ontario when hit a barrier. He was knocked un- and his daughters Leonora and He will also receive a one-time re- billion settlement with the United 1966. a suspension upright on his Lola consciousness and crashed into a Edwina. location benefit of £300,000. States government in 2012. He was an owner and racer with failed, pitching the car into a barri- wall. Surtees restored cars and Mr. Tucker, 59, spent much of American authorities had ac- his own team in the 1970s. er. The car somersaulted at im- The Henry Surtees Foundation motorcycles after leaving the rac- his career in the insurance indus- cused the bank of laundering Surtees credited his success, pact and landed on top of him, raises money to aid the recovery ing scene. In his final years he was try, serving as the chief executive money for drug cartels and trans- and indeed his survival, to making fracturing his pelvis, seriously of patients with brain injuries. behind the wheel again at the an- of the British insurer Prudential ferring funds for Iran and other midrace adjustments. damaging his left leg and spine John Surtees was born on Feb. nual Goodwood Revival in south- before he joined AIA in 2010, nations subject to United States “I usually had to start making and rupturing his kidneys. 11, 1934, in Tatsfield, outside Lon- ern England, where vintage cars ahead of its initial public offering. sanctions. compromises in the way I drove “It was touch and go for a while, don, a son of Jack and Dorothy race. Iceland Officials Plan End Jay Lynch, 72, a Creator of Underground Comics By RICHARD SANDOMIR To ’08 Financial Controls Jay Lynch, an artist, writer and satirist who was a central figure in STOCKHOLM (Reuters) — offshore assets for close to 90 bil- the underground comics revolu- Iceland’s finance ministry said on lion Icelandic krona (about $836 tion of the 1960s and ’70s, died on Sunday that in the coming week it million) at an exchange rate of March 5 at his home in Candor, would lift the remaining capital 137.5 krona per euro. N.Y. He was 72. controls that have been in place Iceland has been locked in a dis- His cousin Valerie Snowden since the financial crisis in 2008, pute with funds that owned more said the cause was lung cancer. easing restrictions on households than $1 billion worth of krona-de- Mr. Lynch, who had a wry, dead- and businesses. nominated assets that had been pan sense of humor, held strong views about the importance of un- “The removal of the capital con- frozen by the Icelandic authori- derground comics, which differen- trols, which stabilized the cur- ties.