HSBC Holdings on Monday named a former auditor of the bank as its new head of global regulatory compliance, the latest move by the bank to bolster its compliance functions.
Ruth Horgan will assume the role on April 2 and be responsible for developing strategy, standards, global systems and policies on compliance. Her role will exclude areas related to financial crime after HSBC last month separated that compliance function from other areas, just before it was fined a record $1.9 billion for U.S. anti money-laundering lapses.
Horgan, who will be based in London, joins from accounting firm KPMG, where she has been a partner since 1999 and most recently was its EMEA regional audit partner for Credit Suisse. She had been part of the audit team responsible for HSBC until March 2010.