The chief executive of HSBC Bank and HSBC Europe is to join the board of London fintech startup Quantexa next month.
Colin Bell will join the data analytics startup’s board of directors, replacing HSBC’s global risk chief operating officer Ray O’Brien.
The bank was an early investor in Quantexa, participating in its series A in 2017 and in subsequent fundraising rounds. Other backers include Dawn Capital, British Patient Capital and the venture capital arms of ABN Amro and Accenture.
Bell was HSBC’s group chief compliance officer until February this year. He previously worked at Swiss bank UBS, where he was head of compliance and operational risk control, and spent 16 years in the British Army.
“At HSBC, we have been working directly with Quantexa to develop an AI solution which will help us to better identify financial crime,” said Bell in a 28 April statement on his appointment.
“I’m looking forward to joining Quantexa’s board at a pivotal moment in the company’s growth and sharing my experience in the ever-evolving and challenging financial services and public sectors.”
Quantexa has raised $88m in capital to date, with more than 300 employees across offices in the UK, the US, Belgium, Canada, Singapore and Australia.
The startup said its revenue had doubled during the pandemic. Its software uses machine learning to analyse data points and provide a better oversight of financial crime for banks and other institutions.
“We’re delighted to welcome Colin to Quantexa’s board of directors at such an exciting time for the company,” said Vishal Marria, chief executive of Quantexa.
“Colin’s wealth of experience will help Quantexa continue to excel and meet the high market demand for enterprise technology that drives better decisions and delivers business value.”
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