CML names HSBC boss as new chairman

The CML has confirmed Clive Wood, head of banking and mortgages at HSBC Bank, as its new chairman.

Tony Ward, managing director of Britannic Money, continues as deputy chairman.

Wood joined HSBC in 1977. He was seconded to IMRO in 1986, and on his return to HSBC worked in investment banking compliance. In 1991 he was appointed general manager of HSBC Bank Stockbrokers before joining HSBC&#39s bancassurance business in 1994 to establish a new compliance function.

He was appointed head of distribution in 1998. In January 2000 he was appointed HSBC&#39s head of home buying, and became head of banking and mortgages in July 2001. In this role he is responsible for meeting the banking, mortgage and borrowing needs of HSBC&#39s personal customers in the UK.

On taking up his appointment, Wood says: “Mortgage lenders expect to be kept on their toes in 2003. With the housing market still booming but the future direction of the market uncertain, it is more important than ever that the industry stays alert to a changing economic environment.

“Wide-ranging regulatory changes are on their way and European initiatives will also loom large. My job as chairman of the CML is to help the industry respond to these challenges and to maintain the UK&#39s acknowledged position as the most innovative and dynamic mortgage market in Europe.”