David Nish, former chief executive of Standard Life, has joined HSBC’s board as a non-executive independent director.
Nish announced he was stepping down from Standard Life in June last year, after six years at the helm, being replaced by Standard Life Investments chief Keith Skeoch.
Nish will join for an initial three-year term, with re-election in 2017, for his term to conclude by 2020.
Nish is also currently non-executive director of Vodafone, London Stock Exchange Group, UK Green Investment Bank and will shortly join Zurich Insurance Group.
“David brings considerable relevant experience in financial services as well as in financial accounting and reporting. His tenure at Standard Life was marked by business transformation delivering value creation, a combination which HSBC is similarly targeting from its current strategy,” says HSBC Group chairman Douglas Flint.
“David also has a wide-ranging understanding of all aspects of corporate governance which will further enhance the contribution he can make to the Board. We very much look forward to him joining us.”
In its latest results Standard Life announced former chief executive David Nish continues to be paid his £835,000 salary while on gardening leave until 31 March, and will continue to be eligible for his bonus, pro-rated.