HSBC has made a number if sweeping changes to its board in a move seen as a statement of intent as the corporate tries to win back the confidence of worried shareholders after a share slump at the end of 2006.
Fairhead, CEO of the Financial Times Group has been a non-executive director at the bank since 2004. She graduated to the chief exec role after a successful tenure as CFO of publishing group Pearson, owners of the FT.
The high-flyer's appointment as audit chair will come into effect at the conclusion of HSBC's AGM which traditionally takes place on the last Friday of May.
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