The former director-general of MI5 is to join HSBC’s board as a non-executive director in August.
Sir Jonathan Evans, who spent three decades at the intelligence service, will be paid £125,000 to work 40 days a year at the bank.
The British Broadcasting Corporation reports that he will also become a member of a special committee HSBC created to help combat financial crime.
The unit was set up after the bank was fined $2bn (£1.3bn) in the US over money laundering and sanction breaches.
The bank has already appointed Dave Hartnett, the former head of HM Revenue and Customs, and Jim Comey, a former US deputy attorney general, as advisers to the Financial System Vulnerabilities Committee.
Bill Hughes, a former head of the UK’s Serious Organised Crime Agency was also recruited when the committee was set up in January.
Sir Jonathan will be paid £95,000 for his position as a non-executive director and an additional £30,000 for his role working for the committee, which meets about eight times a year.
His appointment was approved by Prime Minister David Cameron, and will be for an initial three-year term.
But he will be barred from lobbying the government on behalf of the bank or its clients for two years after he takes up his new roles.
“We are delighted to welcome Jonathan,” said HSBC chairman Douglas Flint.