HSBC North America Holdings Inc. announced the appointment of Iain Mackay as executive vice president and chief financial officer.

He will assume his position in mid-July. Mackay succeeds Simon Penney, who retired at the end of 2006 and whose role was being filled on an interim basis by Chris Spooner, head of Group Financial Planning and Tax, HSBC Holdings plc.

As EVP and CFO, Mackay is responsible for all aspects of HSBC’s financial management in the US and Canada. He reports to Brendan McDonagh, the chief operating officer for HSBC — North America and CEO of HSBC Finance Corporation, and functionally to Douglas Flint, Group Finance Director for HSBC Holdings.

Mackay joins HSBC from GE Healthcare, where he was corporate vice president and CFO for the Global Diagnostic Imaging Business, the largest operating unit in GE Healthcare. His career has focused in the financial services arena with senior roles in GE Consumer Finance, Capital, and Equity, as well as public accounting with Thomson McLintock (U.K.) and Price Waterhouse (both in the U.S. and France). He is also a Chartered Accountant (Scotland).

“As one of the leading banking and financial institutions in North America, HSBC is pleased to add someone of Iain’s caliber to our leadership team,” said McDonagh. “Iain will bring expertise, a strong track record, and broad perspective to this important position.” McDonagh also thanked Chris Spooner for his leadership during the interim period of selecting a new CFO.