Quantum computing firm Oxford Quantum Circuits (OQC) has appointed Barclays chairman Nigel Higgins to its board as it focuses on the financial services sector.
Higgins brings more than 40 years of experience in global finance, having chaired Barclays since 2019 after a 36-year career at Rothschild & Co, where he rose to co-chief executive and deputy chairman.
He also holds non-executive roles at Tetra Laval and Sadler’s Wells.
His appointment follows that of Colin Bell, former CEO of HSBC Bank plc and HSBC Europe, who joined the board earlier this month.
The company has said that the pair will bolster its ability to deliver quantum solutions optimised for financial services.
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Quantum computing is tipped to have a ‘measurable impact’ in financial services by 2028, with applications spanning fraud detection, risk modelling, cybersecurity and trading optimisation, and OQC is already working with major institutions to develop use cases.
“Quantum computing has the potential to reshape financial services – from how institutions manage risk to how they protect and process information,” said Higgins.
“OQC is at the forefront of this transformation, and I’m pleased to join the board at such a pivotal time.
“I look forward to working with the leadership team to help bring quantum advantage to finance and other sectors of national and global importance.”
OQC chair, Jack Boyer OBE, added: “We are delighted to welcome Nigel to the board. He brings exceptional leadership experience from global banking and a deep understanding of institutional strategy at the highest level.
“His appointment sharpens our strategic focus on finance and strengthens the board’s ability to shape OQC’s direction as we deliver quantum computing to sectors where performance, resilience, and trust are mission-critical.”