British banking group HSBC has hired Ewen Stevenson from RBS to serve as its new group finance director.

Stevenson replaces Iain Mackay, who will retire after eight years in the role.

HSBC group CEO John Flint said: “We are very grateful to Iain Mackay for his 11 years of highly professional and dedicated service; the last eight as Group Finance Director. He has played a leading role implementing Group strategy, ensuring the firm’s compliance with regulatory standards and improving the quality of our financial reporting.”

At RBS, Stevenson worked as the CFO since 2014. In his banking career of over 25 years, he also served as the co-head of the EMEA investment banking division and co-head of the global financial institutions group at Credit Suisse.

“Ewen is a highly experienced executive with a proven track record as a chief financial officer. He is both a strategic thinker and a highly accomplished expert in his field. He brings a wealth of international experience and will be a welcome addition to the senior management team,” Flint added.