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The Hongkong and Shanghai Banking Corporation Limited has appointed Iain J Mackay, 47, as its new CFO, effective 1 September 2009. He succeeds Edgar Ancona, 57, who will take up Mackay’s position as CFO of HSBC’s North American operations. Both these appointments are subject to remaining internal approvals.

Mackay joined HSBC in July 2007 as senior executive vice president and CFO for North America, with responsibility for all aspects of financial management in the US and Canada. Since that time, he has been involved in the restructuring of HSBC’s consumer finance divisions in North America. He has also successfully re-organised the North American finance operation into a single integrated function.

Ancona was appointed to the role of CFO of HSBC Asia Pacific in 2006. Prior to coming to Hong Kong, he was Senior Vice President and Treasurer of HSBC Finance Corporation in the US. During his time in Hong Kong, he has been a key adviser in the Group’s numerous acquisitions across the region over the last few years.