The former director-general of the Confederation of British Industry set to succeed Dame Clara Furse
The former director-general of the CBI, Carolyn Fairbairn(Image: PA)
The former director general of the Confederation of British Industry (CBI) has been named as the incoming chair of HSBC UK.
The banking giant said Dame Carolyn Fairbairn would assume the role at the end of the current half-year period. The existing chair, Dame Clara Furse, is preparing to step down from the non-executive position in the months ahead following nine years of service.
Dame Carolyn, who headed the CBI until 2020, currently serves as chair of HSBC’s group remuneration committee and will move to the new role subject to regulatory clearance.
HSBC said the appointment follows a “robust succession process which considered both internal and external candidates”.
The announcement comes just three months after Brendan Nelson was appointed as chairman of the broader HSBC group.
Mr Nelson said: “I would like to thank Dame Clara for her dedication, commitment and the significant contribution she has made to HSBC during her time as chair of HSBC UK.
“I believe that Dame Carolyn’s deep understanding of the UK business and regulatory landscape will be invaluable in the next phase of delivery of HSBC UK Bank’s growth strategy and as we deliver for our investors, customers, communities and employees.”
Meanwhile on Monday, competing lender Santander UK confirmed that Nicola Bannister will become chief executive of TSB Bank following its acquisition of the high street bank.