LONDON, May 20 (Reuters) - John Thornton, the former GoldmanSachs president who specialises in Chinese affairs, isstepping down from the board of HSBC to spend more timeon his other business interests, Europe's biggest bank said onMonday.
Thornton, who heads HSBC's remuneration committee, will notseek re-election to the bank's board at its annual shareholdermeeting on Friday in view of "recent expanded responsibilitieswithin his other business interests," HSBC said.
He will resign as chairman of HSBC North America on the sameday.
Thornton joined the HSBC board in December 2008 and has beenhead of its remuneration committee since May 2010.
Thornton is also co-chairman of Barrick Gold, wherelast month a group of Canada's top pension funds rallied againstthe miner's $11.9 million signing bonus for him.
During a 23-year career with Goldman Sachs, Thornton helpedbuild up its mergers and acquisition business in London anddrive its international expansion and was chairman of itsoperations in Asia. He left in 2003.
He is professor and director of the global leadershipprogram at the Tsinghua University School of Economics andManagement in Beijing and holds several other senior positionson Chinese affairs. He is on the boards of major firms includingFord Motor Co. and China Unicom.
HSBC Holdings (HSBA)
