Chairman of HSBC joins Archbishop of Canterbury's initiative to promote responsible lending
The Archbishop of Canterbury's Just Finance Foundation announced today the appointment of Douglas Flint, Chairman of HSBC Holdings PLC as non-executive Chairman of the Foundation.
The Just Finance Foundation (JFF) oversees and continues the programmes previously initiated by the Archbishop's Task Group on Responsible Credit and Savings in partnership with the Church Urban Fund. The Just Finance Foundation, now managed by the Church Urban Fund, has three key areas of work:
- Promoting saving though the LifeSavers programme working primarily in schools.
- Through the Just Finance Network (JFN), building money skills, increasing the quality of low-cost credit where people need small loans and offering specific support for those in crisis.
- Encouraging a wider debate about money and its place in our lives, building on the Archbishop of Canterbury's concerns about the responsible use of money.
Commenting on his appointment as non- executive Chairman, Douglas Flint said: "I am delighted to be joining the Just Finance Foundation at a time when it is working on three key objectives: engaging the public in a conversation about money and its place in our lives, promoting saving as a lifelong habit and connecting people to low cost credit, free debt advice and money skills. This is important work and I am honoured to be taking the work of the Archbishop's Task Force to a new level."
Commenting of the appointment, the Archbishop of Canterbury, Justin Welby said: "Douglas Flint brings with him a wealth of expertise and understanding to this newly created role. The previous Task Group delivered an impressive list of achievements that has already had high impact. Under the experienced leadership of Douglas Flint, the Just Finance Foundation will continue working towards our clear vision of a stronger and more resilient community finance sector."
Hector Sants, Chair of the former Archbishop's Task Group, and current Trustee of the Just Finance Foundation said: "I am delighted that Douglas Flint has agreed to Chair the Just Finance Foundation. His experience and commitment will undoubtedly ensure the work of the TaskGroup is both taken forward and over time enhanced."
Paul Hackwood, Executive Director of the Church Urban Fund said: The appointment of Douglas Flint as Chairman of this new foundation is highly significant. The board will bring together different interests from the banking, community finance sector and local communites themselves which will create the possibility of creating real change. It is as we work together on these issues that we have a real chance of addressing the financial distress that blights the lives of so many."
- Douglas Flint started his career in Peat Marwick Mitchell & Co. (now KPMG), and was appointed a partner of the firm in 1988. He has an in depth knowledge of banking, treasury and securities trading operations, financial reporting of multinationals. He became Group Finance Director of HSBC in 1995. He was the Chairman of the Financial Reporting Council's review of the Turnbull Guidance on Internal Control from 2004 to 2005 and was a member of The Accounting Standards Board and the Standards Advisory Council of the International Accounting Standards Committee Foundation from 2001 to 2004. In June 2006, in recognition to his services to the finance industry, he was appointed a CBE (Commander of the Order of the British Empire). Douglas Flint became chairman of HSBC Holdings PLC, Europe's biggest bank, at the end of 2010.
- JFN seeks to match the different resources of local churches (people, buildings, skills, money and networks) with the varied needs of credit unions, local community finance organisations and debt and money advice services.
- LifeSavers is a national financial education programme for primary schools to equip children with the knowledge, skills, and values to manage money well now and in the future, working in partnership with Young Enterprise, a leading UK enterprise and financial education charity.