Shawbrook appoints HSBC veteran as director

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Paul Lawrence, former chief executive of HSBC North America, has joined Essex-based challenger bank Shawbrook Group as an independent non-executive director.

In a 31-year career with HSBC, which included leading the banks internal audit group, Lawrence developed a wide ranging knowledge of the global banking and payments system.

The HSBC veteran was also head of global banking and markets USA, chief executive of HSBC Singapore, and chief executive of HSBC Philippines.

‘‘Paul brings over 30 years’ commercial and operational experience in banking and will be a valuable addition to the board of Shawbrook,’’ stated Iain Cornish, chairman, Shawbrook Group.

As well as becoming an independent non-executive director, Lawrence will also join the company’s board as chairman of risk committee and a member of the board audit committee.

‘‘I look forward to working with him and to his contribution to the continued success of the group,’’ continued Cornish.

Lawrence will help Shawbrook grow its consumer base and net profits. Between January and June of 2015, the challenger bank made £24.7m in pre-tax profits, an 84 per cent increase on its previous profit report.

There have been a number of career moves within HSBC recently. At the beginning of August Antonio Simoes was appointed CEO and chief executive of Europe of HSBC Bank plc, succeeding Alan Keir as CEO.

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