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HSBC hires ex-MI5 director general

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HSBC has appointed former MI5 director general Sir Jonathan Evans to its financial system vulnerabilities committee.

On 6 August, Evans will join the lender as an independent non-executive director and as a member of the committee which has been specifically launched in order to pinpoint any part of the bank’s operations which could prove vulnerable to financial crime.

He will be paid a director’s fee of £95,000 per annum, as authorised by shareholders at the 2011 Annual General Meeting and a fee of £30,000 per annum as a member of the  committee.

HSBC has made several public attempts to ramp up its governance capabilities after it was fined £1.2bn by US authorities over money laundering and sanctions law breaches in November.

A report by the US Senate specifically noted that large sums of Mexican drug money likely passed through the bank. 

The financial system vulnerabilities committee was set up in January in order to deliver governance, oversight and policy guidance on subjects including anti money-laundering systems and the prevention of both illegal drugs activity and terrorist financing.

HSBC group chairman Douglas Flint says: “Jonathan’s experience and expertise gained from a career at the highest level of public service combatting threats to data security, critical infrastructure and from international terrorism and organised crime will be of considerable value to the board.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Michael Mason-Mahon 1st June 2013 at 3:30 pm

    How much have HSBC really spent trying to put right, Ten years of their illegal and criminal behaviour around the world?

    Still Mr Flint is the Chairman, 17 years as Finance Director, how did he not know what was going in HSBC Group for ten years.

    Can anyone believe Mr Flint?

    Before reading anything about HSBC, people should go to youtube: 1) How HSBC Chairman Mr Flint lied to shareholders. 2) Protest against HSBC in Mumbai. 3) Help Stop Bankers Cheating

    Is Lies the new truth at HSBC? Is Cowardice the new Courageous Integrity at HSBC?

    Is HSBC stealing people’s reputations, is HSBC committing fraud against customers in India and Indian’s around the world?

    How many people have HSBC illegally registered with CIBIL?

    Should any decent Society or the Regulators forget or ignore the illegal and criminal behaviour of the HSBC Group?

    What about the innocent Victims of HSBC in India?

  2. So either the nabk will stop the activities for which it has been fined, or we won’t get to hear of them in future… 🙂

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