Business

HSBC appoints ex-MI5 chief Sir Jonathan Evans to board

Sir Jonathan Evans
Image caption Sir Jonathan Evans spent 33 years at MI5, where he was the director-general for six years

The former director-general of MI5 is to join HSBC's board as a non-executive director in August.

Sir Jonathan Evans, who spent three decades at the intelligence service, will be paid £125,000 to work 40 days a year at the bank.

He will also become a member of a special committee HSBC created to help combat financial crime.

The unit was set up after the bank was fined $2bn (£1.3bn) in the US over money laundering and sanction breaches.

The bank has already appointed Dave Hartnett, the former head of HM Revenue and Customs, and Jim Comey, a former US deputy attorney general, as advisers to the Financial System Vulnerabilities Committee.

Bill Hughes, a former head of the UK's Serious Organised Crime Agency was also recruited when the committee was set up in January.

Sir Jonathan will be paid £95,000 for his position as a non-executive director and an additional £30,000 for his role working for the committee, which meets about eight times a year.

His appointment was approved by Prime Minister David Cameron, and will be for an initial three-year term.

But he will be barred from lobbying the government on behalf of the bank or its clients for two years after he takes up his new roles.

"We are delighted to welcome Jonathan," said HSBC chairman Douglas Flint.

"His experience and expertise gained from a career at the highest level of public service combating threats to data security, critical infrastructure and from international terrorism and organised crime will be of considerable value to the board as it addresses its governance of systemic threats," he added.

Sir Jonathan, 55, left MI5 last month after 33 years at the service.

In December 2012 HSBC paid US regulators about $2bn in a settlement over money laundering and circumventing US sanctions on dealings with Iran and North Korea.

The bank admitted having poor money laundering controls and apologised.

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