BusinessCompany NewsEx-Mexican finance minister joins HSBC board

Ex-Mexican finance minister joins HSBC board

Former Mexican moneyman appointed as non-executive director at banking giant in the wake of disappointing performance at the end of 2006

HSBC has appointed
Mexico’s former finance chief Jose Francisco Gil Diaz as a non-executive
director.

Diaz, was Mexican secretary of finance and public credit until 30 November
2006 before a new administration was voted in. Between 1997 and 2000 he was
chief executive officer of Avantel, a Mexican telephone and internet service
provider, after serving as vice-governor of the Central Bank of Mexico, where he
was director general of tax policy.

Diaz’s appointment comes as part of a sweeping reshuffle widely seen as a bid
to allay the concerns of jittery investors, following HSBC’s recent poor
perfomance.

The promotion of
Simon
Robertson
, one of the City’s most prominent financial advisers to the role
of senior non-executive director represents another key posting as HSBC attempts
to bolster shareholder confidence.

HSBC, the world’s fourth-largest bank by market capitalisation, suffered a
share slump at the end of 2006, making it one of the worst-performing European
bank stocks of the year, the
FT reported.

Further reading:

Unilever FD’s pay packet to hit £1.5m with
NED role

Superhero on board

Tackling the non-executive recruitment
crisis

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