HSBC chairman Green to become British trade minister

London: HSBC chairman Stephen Green is quitting the bank to become a trade minister in Britain’s coalition government, Downing Street announced on Tuesday.

Prime Minister David Cameron said: “I am delighted to appoint Stephen to this vital role,” while HSBC added in a statement that Green would step down before the end of the year.

The government said on Tuesday that Green will take up the position early next year.

Cameron said Green will make an "invaluable contribution" to driving economic growth in Britain as the government seeks to open new trade links, promote British business overseas and maximise inward investment. Green, 61, served as HSBC’s chief executive from 2003 to 2006.