Serendipity Capital appoints outgoing HSBC Europe head Colin Bell to board

(Reuters) - Serendipity Capital has appointed Colin Bell, the outgoing head of HSBC Europe, to its board as a non-executive director, the investment firm said on Tuesday.

Bell, once seen as a potential candidate for the role of HSBC's CEO, will join Serendipity on Nov. 1.

Bell is credited with a sweeping revamp of HSBC's European business, historically seen as one of its biggest underperformers. Under his watch, revenues and returns jumped following substantial disposals and cost cuts.

Previously, he was head of compliance and operational risk control at Swiss banking major UBS.

Ruth Cairnie, the chair of defence contractor Babcock, was also appointed to Serendipity Capital's board as a non-executive director, the Singapore-based firm said.

(Reporting by Chandni Shah in Bengaluru and Selena Li in Hong Kong; Editing by Janane Venkatraman)