HSBC N. America Taps GE Exec as New CFO

Global bank HSBC's North American unit recently named Iain Mackay as executive vice president and CFO. He starts in mid-July, taking over from an executive of the London-based parent, HSBC Holdings plc.

Mackay joins HSBC North America Holdings Inc. from GE Healthcare, where he was CFO of the largest operating business, global diagnostic imaging. He previously held senior roles at various GE units, at Schlumberger, and in public accounting firms in the U.S., U.K. and France. He is a graduate of Aberdeen University in Scotland.

HSBC says Mackay will be responsible for all aspects of financial management in the United States and Canada. He'll report to COO Brendan McDonagh, and functionally to Douglas Flint, group finance director for HSBC Holdings.

He replaces Chris Spooner, head of group financial planning and tax at parent HSBC Holdings plc, who had filled the role on an interim basis since the end of 2006 when the company's previous CFO for North America retired.

Iain Mackay Named Chief Financial Officer for HSBC - North America [Press release]