HSBC welcomes former SEC Commissioner to its board

The former Commissioner of the US Securities & Exchange Commission (SEC) has agreed to join the board of HSBC as a Non-Executive Director. Kathleen Casey, who occupied the top seat at the regulator between 2006 and 2011, will become a member of the audit committee and the Financial System Vulnerabilities committee for an initial period of three years. As SEC Commissioner, Casey was the principal representative in multilateral and bilateral regulatory dialogues, the G-20 Financial Stability board and with the International Organisation of Securities Commissions. Chairman of the bank, Douglas Flint, said: "Kathy brings with her a wealth of experience of financial services regulation gained at a key time in the evolution of the sector, which will be of particular relevance and value to the board. "Her skills will complement the diverse background and experience of the board and we look forward to Kathy joining HSBC as the group continues to focus on the delivery of its strategic objectives."The group also stressed that "there are no relationships or circumstances which are likely to affect Kathleen's judgement and any relationships or circumstances which could appear to do so were not considered to be material".NR