The Hongkong and Shanghai Banking Corporation Limited has appointed Iain J Mackay, 47, as its new Chief Financial Officer, effective 1 September 2009. He succeeds Edgar Ancona, 57, who will take up Mackays position as CFO of HSBCs North American operations. Both these appointments are subject to remaining internal approvals.
Mackay joined HSBC in July 2007 as Senior Executive Vice President and CFO for North America, with responsibility for all aspects of financial management in the US and Canada. Since that time, he has been involved in the restructuring of HSBCs consumer finance divisions in North America. He has also successfully re-organised the North American finance operation into a single integrated function.
Ancona was appointed to the role of CFO of HSBC Asia Pacific in 2006. Prior to coming to Hong Kong, he was Senior Vice President and Treasurer of HSBC Finance Corporation in the US. During his time in Hong Kong, he has been a key adviser in the Groups numerous acquisitions across the region over the last few years.
Asia is home to some of the worlds fastest and most dynamic economies, says Sandy Flockhart, chief executive office of HSBC Asia Pacific. With the emerging markets of Asia an increasing component of the Groups growth strategy and profitability, we welcome Iains contribution as we continue to drive for growth and expansion in the region. I also want to thank Edgar for his invaluable contribution during his time in Asia and wish him all the best in his new endeavours.
With the exchange of roles between Edgar and Iain, I am very pleased we have succeeded in managing succession in these two key geographies in this way, says Douglas Flint, HSBCs group finance director. Edgar and Iain have both contributed hugely to the development of the global finance function in recent years and will no doubt continue to do so in their new positions. These moves ensure that the Group benefits both from fresh leadership perspectives and continuity.
D.C.