(Bloomberg) -- Colin Bell, who is stepping down from running HSBC Holdings Plc’s European operations at the end of the year, will join the board of Singapore-based investment firm Serendipity Capital.
Bell will join as an independent non-executive director on Nov. 1, according to a press release seen by Bloomberg News. Also joining the board in the same capacity is former Shell Plc executive Ruth Cairnie, who is currently chair at Babcock International Group Plc.
The appointments come amid an expanded focus on the UK – where Serendipity Capital sees an increasing number of deal opportunities, according to the statement. Bell acted as HSBC’s group chief compliance officer and head of financial crime risk prior to his current role at the lender.
Serendipity Capital is valued at $425 million and focused on artificial intelligence, quantum computing, semiconductors, cyber security and advanced manufacturing. The firm has generated a net return of 23% since it was established in late 2019.
Its founding partner Rob Jesudason was previously head of emerging markets in the financial institutions group at Credit Suisse. He also previously served as chief financial officer at Commonwealth Bank of Australia and president of Block One, a global blockchain company.
Earlier this year, Alex Fox, the former managing partner of the UK’s National Security Strategic Investment Fund, joined Serendipity Capital as a senior adviser.
(Updates with the firm’s recent hiring in the last paragraph. An earlier version corrected Cairnie’s previous job in the second paragraph.)
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