Britain’s former spymaster is joining the board of HSBC, the banking giant, which last year reached a record $1.9 billion (£1.25 billion) settlement with the United States authorities over money-laundering charges.
Sir Jonathan Evans, 55, who stepped down as director general of MI5 last month after six years in the post, will join the bank in August.
He will be a non-executive director and a member of the bank’s financial system vulnerabilities committee, which was set up in the wake of the money-laundering scandal.
Douglas Flint, chairman of HSBC, said: “We are delighted to welcome Jonathan. His experience and expertise gained from a career at the highest level of public service combating threats to data security, critical infrastructure and from international terrorism and organised crime will be of considerable value to the board as it addresses its governance of systemic threats.” When HSBC reached its settlement with the US Department of Justice and other authorities last December it included a deferred prosecution agreement which effectively meant it avoided criminal charges but was placed on probation for five years.
In January it set up the financial system vulnerabilities committee of experts with the brief to oversee and set policy on anti-money-laundering systems and controls, standards on tax transparency, anti-avoidance and compliance, prevention of terrorist financing, prevention of association with illegal drugs activities and the application and enforcement of financial sanctions.
The committee includes former deputy US Attorney General Jim Comey. As part of the deferred prosecution agreement the HSBC has to show that is taking measures to try to prevent any repeat of its past failings.
The bank said: “HSBC is focused on taking all necessary steps to fulfil obligation under the agreements with the US and UK governments, and on implementing effective global standards across the HSBC network.”
Evans, who spent 33 years with the Security Service, will be paid £125,000 a year by HSBC. The last time MI5 revealed his salary, in 2010, he was on £159,999 annually. He has an initial three-year contract with the bank and his appointment will have to be approved by its shareholders.
Sir Jonathan Evans
Born 1958
Education: Classical Studies, Bristol University
Joined Security Service in 1980
Postings in Irish-related counter-terrorism
Developed VIP security policy in the Nineties
Director of international counter-terrorism in 2001
Deputy director general MI5 in 2005
Director general in 2007
