Business
HSBC Shareholder Propose Break-Up Of Banking Giant's Global Business To Asia And Other Countries
May 1, 2022
January 9, 2025
By Evans Momodu
1 minute read
Bim Afolami, former economic secretary to the Treasury and a Conservative MP for seven years, is set to join the board of HSBC UK as a non-executive director.
This marks his return to the banking sector, where he previously held senior roles at HSBC before entering politics.
Afolami’s role at HSBC UK will likely be announced in the coming days. Before his political career, he was a senior executive at HSBC and worked as a corporate lawyer at Freshfields and Simpson Thacher & Bartlett.
The appointment has been cleared by the Advisory Committee on Business Appointments (ACOBA), which oversees the transition of former ministers into private sector roles. During his time as economic secretary, Afolami played a significant role in advancing City reforms.
This will be Afolami's first major role in the private sector since losing his Hitchin parliamentary seat in the 2024 general election.
The move underscores his return to the financial industry, leveraging his prior experience and expertise in corporate law and banking.
Source: Sky news
