High profile businesswoman Sue Fox is quitting her job as chief executive of Marks and Spencer Bank to run HSBC Bank’s operations in the Isle of Man.

Ms Fox, 49, has been at the helm of Chester-based M&S Bank since March 2014 when she became one of the few women bosses in the banking industry and a leading role model for other women.

M&S Bank is part of the HSBC Group and Ms Fox has been with HSBC for more than 30 years.

She started her career in her local bank branch, straight from school, doing every job along the way and has worked across the UK and US, managing branches at major international destinations, including Manhattan, New York. She has led Marks and Spencer’s financial services arm through the launch of its first mainstream current account and its first mortgage range.

The appointment will be effective on February 1, 2019, subject to regulatory and other approvals.

Sue Fox succeeds current chief executive Tracy Garrad, who is pursuing a career opportunity outside the bank.

Ms Garrad, 49, is said to have successfully strengthened the bank’s local and global capabilities, and championed an open, inclusive culture.

Chris Davies, chief executive of HSBC, Europe international, said: ’Sue is an excellent leader for this important market.

’She will build on the successful strategy that we’ve established here under Tracy Garrad’s skilful leadership.’

Ms Fox said: ’I’m delighted to be joining HSBC’s business in the Isle of Man and the Channel Islands at such an exciting time. We have the opportunity to further grow HSBC’s propositions and use our unique global banking network to benefit the islands’ customers. Equally important to me is fostering an inclusive and positive workplace and I very much look forward to working closely with our 1,200 talented colleagues.’ Ms Fox has often been featured in mainstream television programmes as a media spokesman for M&S Bank and is a regular speaker at events.

She has served as director of the M&S Bank’s diversity and inclusion board which supports the bank’s LGBT network.

She has been recently ranked in a Financial Times list of top female executives.

In addition to her role at M&S Bank, Sue is an independent non-executive director with Scottish Power Ltd.

Sue lives with her partner Paul and their son Sam.

Tracy Garrad, who has been chief executive of HSBC in the island since 2017, told the Manx Independent she is leaving in January to take up a role leading another major financial services organisation outside the HSBC Group.

She said: ’My time here in the islands has been tremendously fulfilling, personally and professionally, and I’m proud of all of our achievements supporting our customers, and the wider community.’ She is a previous boss of the phone banking pioneer First Direct.