HSBC appoints Royal Bank of Scotland’s Ewen Stevenson as its new finance boss

HSBC has announced today that it has appointed Royal Bank of Scotland’s (RBS) chief finance officer Ewen Stevenson as its new finance director.

Ferguson will replace Iain Mackay in the role who is retiring from the bank after 11 years.

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Stevenson resigned from RBS in May in a shock move on the eve of the bank’s annual general meeting.

He joined the bank in 2014 from Credit Suisse where he was co-head of EMEA investment banking and its global financial institutions group, investment banking division.

HSBC’s group chief executive, John Flint said: “Ewen is a highly experienced executive with a proven track record as a chief financial officer. He is both a strategic thinker and a highly accomplished expert in his field. He brings a wealth of international experience and will be a welcome addition to the senior management team.”

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Flint also thanked Mackay for his service with the bank which included eight years as group finance director.

“He has played a leading role implementing Group strategy, ensuring the firm’s compliance with regulatory standards and improving the quality of our financial reporting. I would like to thank Iain on behalf of the Board for his unstinting commitment to HSBC and wish him well for the future,” Flint said.

It is not yet clear when Stevenson will start his new role at HSBC.