HSBC's Sue Fox takes over as CEO of M&S Bank
M&S Bank today announces that Colin Kersley, CEO of M&S Bank, has made the decision to retire from the business after five years' at M&S Bank and 39 years' with HSBC, with effect from 30th April 2014.
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Sue Fox, Global Head of Distribution for HSBC's retail business, will succeed Colin as CEO of M&S Bank, subject to regulatory approval.
Appointed CEO of M&S Money in January 2009, Colin has been responsible for the successful growth of the business, including the launch of M&S Bank in 2012. Prior to this, Colin held various senior positions within HSBC, including Head of Premier and Financial Planning and Regional Director for the South East.
Sue brings with her significant senior branch network leadership experience in both the UK and US.
Francesca McDonagh, head of retail banking and wealth management for HSBC in the UK said: "Colin has made a huge contribution to the business during his career, including the successful launch of M&S Bank, and his retirement is a loss to both M&S Bank and HSBC.
"Sue Fox is a proven leader with significant retail banking experience and I am delighted that she will succeed Colin as CEO of M&S Bank, subject to regulatory approval."