David Nish, who was CEO of Standard Life between 2010 and 2015, will also be appointed as a member of the bank’s group audit committee.

Douglas Flint, HSBC Group Chairman, said: “David brings considerable relevant experience in financial services as well as in financial accounting and reporting.

“His tenure at Standard Life was marked by business transformation delivering value creation, a combination which HSBC is similarly targeting from its current strategy.

“David also has a wide-ranging understanding of all aspects of corporate governance which will further enhance the contribution he can make to the board.”

David is currently a non-executive director at Vodafone, London Stock Exchange Group, UK Green Investment Bank and, subject to shareholder approval, will hold the same role at Zurich Insurance Group from the end of this month.

David will join HSBC on an initial three-year term.