Rachel Lomax joined the HSBC Board of Directors in 2008 and was appointed Senior Independent Director in April 2015. She has experience in the public and private sectors, plus a deep knowledge of the operations of the UK government and financial system. Her previous appointments include Deputy Governor, Monetary Stability, at the Bank of England and a member of the BoE’s Monetary Policy Committee; Permanent Secretary at the UK Government Departments for Transport and Work and Pensions and the Welsh Office; and Vice President and Chief of Staff to the President of the World Bank. 

Currently, she is the chairman of the International Regulatory Strategy Group and director of TheCityUK; non-executive director of Arcus European Infrastructure Fund GP LLP and Heathrow Airport Holdings Limited (formerly BAA Limited); member of the Council of Imperial College, London; and President of the Institute of Fiscal Studies. She is also a non-executive director of Serco Group plc