Sandy Flockhart retains non-executive role in HSBC boardroom move

SANDY Flockhart, the Scottish senior career banker with HSBC is stepping down as an executive board director.

Britain’s biggest bank said Flockhart, 60, who is currently chairman of Europe, the Middle East, Africa, and the commercial banking business, would remain on the HSBC board as a non-executive so the group could “retain access to his extensive international experience”.

He is not expected to be replaced immediately in his executive role. Flockart, who attended George Watson’s College in Edinburgh and graduated in law from Edinburgh University, will also retain his positions as chairman of HSBC Bank, the group’s main UK and European subsidiary, chairman of HSBC Latin America and as a director of HSBC Bank Middle East.

Flockhart, who has spent 37 years in the business, told The Scotsman in a profile in 2008 of his desire to travel in his career, which has included being chief executive of the bank’s powerhouse Asian business, and a stint as chief executive of the group in Mexico and managing director in Saudi Arabia.

“Scotland is a great place, but there are other great opportunities,” he said at the time. Other posts have included chief executive in Thailand and chairman of HSBC Malaysia, as well as senior roles in the United States, Qatar and the United Arab Emirates.

Yesterday, Douglas Flint, the Scots-born chairman of HSBC, said: “Sandy has served the bank with dedication and distinction spanning both developed and emerging markets.

“He retires at a point in time when commercial banking, the business with which he has been most associated, is the largest profit contributor to the group.

“I would especially like to record the board’s appreciation for his role in leading the development of our service capabilities in this hugely important customer segment.”