Gavin Francis, group chief accounting officer at HSBC, has been appointed chair of a new board tasked with advancing global standards for financial instrument valuation. The Financial Instruments Valuation Standards Board brings together valuation leaders from across the financial world to develop common protocols that will underpin valuation in this burgeoning and international asset class. The board is part of the International Valuation Standards Council (IVSC) and includes representatives of international banks, prudential regulators, and valuation and accounting firms. The board will begin work to develop international standards in early 2019, says the IVSC in an announcement.