Renato Fassbind, former chief financial officer of Credit Suisse, has been appointed as a director of HSBC with effect from January 1, 2013. HSBC also said that Narayana Murthy will retire from its board on December 31. He will be succeeded as chairman of the bank's corporate sustainability committee by Laura Cha. James Hughes-Hallett has also been appointed a member of the corporate sustainability committee from January 1, 2013. Fassbind had been chief financial officer and a member of the executive board of Credit Suisse from June 2004 until September 2010.