Mark Tucker will be the new group chair of HSBC. Tucker is an insurance CEO, but with a brief banking background. The choice of Tucker is said to be the first time the bank has gone outside of its own executive ranks for the position of chairman. Tucker is managing director of Asian life group AIA and before that ran the UK's Prudential. He was finance director from 2004 to 2005 at HBOS. Tucker will succeed Douglas Flint, who has been in the HSBC chair role for seven years, on October 1. Heritage Bank said its new chief operating officer is Kevin Potter, who joins the bank from this week. Potter has held a string of risk management and credit risk roles since entering the industry in the early 1990s via National Australia Bank. Potter crossed to Suncorp in 2012, most recently looking after distribution and then "product and portfolio." Westpac's venture capital fund Reinventure has hired Kara Frederick, a former Goldman Sachs executive, as the firm's first general partner, The Australian reports. Frederick was a senior adviser at US-based boutique investment bank GrowthPoint Technology Partners and also founded middle-market advisory firm Tiger Financial Group. Commonwealth Bank said yesterday it had reduced the maximum loan-to-value ratio for investment home loans to 90 per cent, meaning investors must have a 10 per cent deposit, The Australian reports. The change relates only to investment home loans and is effective immediately. The shift will help the bank stay under the cap on grwoth, of 10 per cent, on investor property lending. Arrears rates on home loans will pick up over 2017, Moody's Investors Service said yesterday in a report on Australian prime residential mortgage-backed securities. "Weaker economic conditions in states reliant on the mining industry, rising underemployment, weak wage growth and less favourable housing market conditions will drive delinquencies higher," Moody's said. Arrears deteriorated over the December 2016 quarter, with loans 30 days or more past due rising to 1.57 per cent from 1.50 per cent at September 2016.