HSBC Holdings Plc announced it had appointed a new executive into its advisory council. HSBC is the largest financial institution in Europe. It has more than 7,200 offices in 85 countries. The financial lender had appointed Stuart Rose to the company's European advisory council, said a person familiar with the matter but asked not to be named as it was held private in nature.

The 64 year old Stuart Rose previously worked at Marks & Spencer Group Plc. He served as Marks & Spencer chairman and chief executive officer, said a person familiar with the move.

HSBC declined to comment regarding the new appointment. A spokesperson for Ocado Plc where Rose is chairman also refused to give statements regarding the matter.

In 2010, Rose went down from office as the CEO of London based retailer, Marks & Spencer. He retired as the biggest clothing retailer chairman on 2011. The appointment of Rose was earlier reported today.