Top UK Diplomat Joins HSBC Amid Global Challenges
- David Quarrey, the UK's former representative to NATO, is joining HSBC as head of public affairs.
- His appointment comes at a time when HSBC is facing significant global challenges.
- This shift marks a notable transition from diplomacy to the finance sector.
HSBC Holdings has appointed David Quarrey CMG, a distinguished British diplomat, as its new public affairs chief, signaling the bank's strategic response to escalating global geopolitical tensions. Quarrey, who has served as the UK's permanent representative to NATO since April 2022, will join HSBC's executive committee, according to sources familiar with the matter. His appointment comes at a time when the bank is navigating complex international relations, particularly with its significant presence in both Asia and the US. Quarrey's extensive diplomatic background includes leading the UK team at the UN Security Council from 2008 to 2011 and a recent tenure as Britain's ambassador to Israel. He was recognized for his contributions to British foreign policy in the Middle East and North Africa with the Companion of the Order of St Michael and St George (CMG) honor in 2015. His experience is expected to bolster HSBC's public affairs strategy as the bank faces increasing scrutiny and challenges in the current geopolitical landscape. The appointment of Quarrey requires approval from the Advisory Committee on Business Appointments (ACOBA), which oversees the transition of former officials into private sector roles. His predecessor, Sir Sherard Cowper-Coles, a notable figure in public affairs, stepped down last year following controversial remarks regarding the UK's China policy but remains an adviser to HSBC's board. As HSBC prepares for potential shifts in the global market, Quarrey's diplomatic expertise may prove invaluable in navigating the complexities of international relations and corporate governance.