LORD Digby Jones, former Minister of State for Trade and Director-General of the Confederation of British Industry, is to become chairman of HSBC’s newly-formed International Business Advisory Board in the UK.

The board will advise HSBC on the development of its international business services for UK companies. It will also create an educational programme to help British businesses to take advantage of the opportunities offered by cross-border trade and will support overseas trade missions.

Paul Thurston, HSBC’s managing director, UK, said: “Many British businesses are looking at opportunities to build their business in overseas markets and HSBC, with our unrivalled global network, is uniquely placed to help them.

“Lord Jones is passionate about British business and has great experience in helping UK businesses connect to foreign markets.

“He’s an ideal person to lead our new advisory board and provide us with customer insights as we continue to develop our services and support for British businesses growing internationally.”

HSBC says it is already Europe’s largest international bank for business, with more than 1.4 million customers in Europe, many of whom use HSBC’s global network to operate abroad. Globally, HSBC serves 2.9 million businesses across its 85-country network.

To ensure that business customers continue to have access to the finance they need, even through the economic downturn, HSBC created a $5 billion global fund for small and medium-sized companies in December last year, and £1 billion is earmarked for UK firms.

Lord Jones said: “I am absolutely delighted to be undertaking such an important role for such an important UK bank at such an important time.

“UK business must continue to reach out from the UK around the world and HSBC is there to help, with lending and advice. I intend to help make a reality of such an opportunity at such a vital time.”

The announcement of Lord Jones’s appointment is set to be followed by confirmation of a number of other high profile leaders from the UK’s international business community joining the advisory board.

As chairman of the International Business Advisory Board, Lord Jones will:

  • Nominate members, and chair the advisory board meetings
  • Attend and speak at customer events to promote international business
  • Support HSBC’s educational programmes for UK companies on international business
  • Lead outward trade missions from the UK
  • Review and provide advice on HSBC’s international business services and products