HSBC promotes Lowthian to head of U.S. compliance
HSBC Holdings has promoted a longtime compliance executive to the position of chief compliance officer of its U.S. operations.
Christine Lowthian, who joined HSBC in 1994, started her new job at HSBC Bank USA this week, according to an internal memo from Colin Bell, the group chief compliance officer, and Michael Roberts, the president and CEO of HSBC North America Holdings.
Lowthian joined HSBC as a global compliance officer for HSBC Futures and held several roles, including global head of regulatory compliance for commercial banking and head of regulatory compliance, overseeing regulatory compliance teams supporting all of the bank’s U.S. businesses. She was appointed interim chief compliance officer at HSBC Bank USA in April.
“Christine’s wealth of experience in liaising with various regulatory agencies across the globe will be an invaluable asset for us in the U.S. market as we seek to execute the growth strategy within a sustainable and effective risk management framework and enhanced regulatory environment,” Bell and Roberts said in a news release.
Lowthian is based in New York and leads a team of 600. She reports to Bell and Roberts.
HSBC Bank USA is the U.S. arm of HSBC Holdings in London, the global banking giant that is renewing a major cost-cutting initiative after putting it on hold during the early months of the coronavirus pandemic. When it was announced in February, the plan included the elimination of 35,000 jobs worldwide, including a 15% reduction in headcount in the U.S. and closing approximately 80 branches.
As of December, the bank had 10,000 employees in the U.S. It has about $202 billion of assets and 150 branches here.