Press Release
Iain Mackay Named Chief Financial Officer for HSBC - North America
26 June 2007
PROSPECT HEIGHTS, Ill. — HSBC North America Holdings Inc. today announced the appointment of Iain Mackay as Executive Vice President and Chief Financial Officer (CFO). He will assume his position in mid-July. Mackay succeeds Simon Penney, who retired at the end of 2006 and whose role was being filled on an interim basis by Chris Spooner, head of Group Financial Planning and Tax, HSBC Holdings plc.
As Executive Vice President and CFO, Mackay is responsible for all aspects of HSBC’s financial management in the United States and Canada. He reports to Brendan McDonagh, the Chief Operating Officer for HSBC – North America and Chief Executive Officer of HSBC Finance Corporation, and functionally to Douglas Flint, Group Finance Director for HSBC Holdings.
Mackay joins HSBC from GE Healthcare, where he was Corporate Vice President and Chief Financial Officer for the Global Diagnostic Imaging Business, the largest operating unit in GE Healthcare. His career has focused in the financial services arena with senior roles in GE Consumer Finance, Capital, and Equity, as well as public accounting with Thomson McLintock (U.K.) and Price Waterhouse (both in the U.S. and France). He is also a Chartered Accountant (Scotland).
“As one of the leading banking and financial institutions in North America, HSBC is pleased to add someone of Iain’s caliber to our leadership team,” said McDonagh. “Iain will bring expertise, a strong track record, and broad perspective to this important position.” McDonagh also thanked Chris Spooner for his leadership during the interim period of selecting a new CFO.
Mackay began his career in 1982 with the Aberdeen, Scotland, office of public accounting firm Thomson McLintock, KMG. He served with Price Waterhouse from 1986 to 1989 in both New York and Paris. Joining Schlumberger Limited in 1990, he held global responsibilities as Internal Audit, Regional Finance Director and Controller in Paris and Jakarta. Mackay joined General Electric in 1996 as Global Controller for Global Consumer Finance in Connecticut, and later served as CFO for GE Equity there.
From 2001 to 2002, he was Vice President and Leader of the Capital Audit Staff, and later Senior Vice President and CFO of GE Consumer Finance – Americas. He moved to his current position with GE Healthcare Technologies in 2004. Mackay received his M.A. degree in business studies and accounting in 1982 from Aberdeen University.
Media Contacts
- Diane Soucy Bergan
- diane.soucy.bergan@us.hsbc.com
- HSBC - North America
- 847-564-6761
