Ex-AstraZeneca CFO to chair HSBC's European unit

ONE OF THE UK’s most senior finance chiefs has joined HSBC to chair HSBC Bank plc.

Jonathan Symonds, former CFO of AstraZeneca and Novartis, will join HSBC as a non-executive director from 14 April, serving on its group remuneration and conduct & values committees.

He will also serve as chairman of HSBC Bank plc, HSBC’s European subsidiary which offers UK and continental Europe retail banking, commercial banking, global banking and markets and global private banking services.

Symonds led AstraZeneca through a ground-breaking move into IFRS, including the first UK company restatements into the new standards, which coincided with a term as head of the Hundred Group of Finance Directors.

He began his career at KPMG, and also had a three-year term at Goldman Sachs. Symonds has also served as a non-executive with Diageo and Qinetiq.

HSBC group chairman Douglas Flint said that Symonds had “extensive experience” in governance, financial management and group reorganisation, which would be relevant and valuable in his time with HSBC.

“His stewardship of HSBC Bank plc at a time of considerable change facing the sector will be critical in ensuring that the bank is best positioned to successfully navigate these challenges.”

Symonds will serve with HSBC for an initial three-year term. He will pick up more than £200,000 for his non-executive positions, and a further £345,000 a year as HSBC Bank plc chairman.