Ex-M&S Boss Sir Stuart Rose Takes HSBC Role
Sir Stuart Rose, the former boss of Marks & Spencer (M&S), is adding to his portfolio of roles by taking on an advisory post with HSBC, Europe's biggest banking group.
Sky News understands that Sir Stuart has been appointed by HSBC in recent weeks to a part-time role on the European advisory council of its investment banking operations.
The appointment reunites him with HSBC following a deal in 2004 under which the bank acquired M&S's financial services arm shortly after he was parachuted into the company to fend off a hostile takeover bid from Sir Philip Green.
The two companies' relationship has since been extended through plans to open 50 M&S Bank branches by the middle of next year.
Sir Stuart is understood to have been drafted in by Kevin Adeson, one of HSBC's top investment bankers, and will advise the bank on issues and clients principally in the consumer goods, food and retail sectors.
Since leaving M&S in 2011, Sir Stuart has taken on a handful of jobs, including the chairmanships of Blue, Fat Face and Ocado, the retailers.
He is also an adviser to Bridgepoint, the private equity firm, and a non-executive director of Land Securities, the FTSE-100 property company, and Woolworths, the South African retailer.
Other members of the HSBC advisory panel include Sir Dick Olver, the outgoing chairman of BAE Systems, the defence contractor, and Claudio Boada, former chairman of Holcim, the industrial products group.
Sir Stuart and HSBC both declined to comment on his new role.