HSBC recruits former MI5 chief

HSBC, fined £1.9bn last year for money laundering, appoints Sir Jonathan Evans as independent non-executive director

HSBC – Britain’s biggest bank, which was last year fined $1.9bn (£1.3bn) for acting as banker for rogue states, terrorists and drug lords – has recruited the former director general of MI5 to join the board.

Sir Jonathan Evans will be paid £125,000 a year as an independent non-executive director. He will also become a member of the financial system vulnerabilities committee, which has been set up to help the bank identify areas where it could be exposed to financial crime.

Evans worked for the security services for 33 years, heading MI5 from 2007 until his retirement last month. HSBC cited his experience in “counter-terrorism, both international and domestic including, increasingly, initiatives against cyber threats”.

HSBC’s chairman, Douglas Flint, said Evans’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 as it addresses its governance of systemic threats”. © 2013 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds

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