Our Board: Promoting Your Interests

Mr Gulliver is a career banker with over 30 her post at the CSRC, Mrs Cha worked in Boardf o Directors years’ international experience with HSBC. the Securities and Futures Commission in He has held a number of key roles in the from 1991 to 2000, becoming Douglas Flint, CBE Group’s operations worldwide, including in its Deputy Chairman in 1998. Group Chairman London, Hong Kong, Tokyo, Kuala Lumpur Age 55 and the United Arab Emirates. He played a Vincent Cheng, GBS, OBE Group Chairman and chairman of the leading role in developing and expanding Age 62 Nomination Committee with effect from Global Banking and Markets, the wholesale Chairman of HSBC Bank (China) Company 3 December 2010. Joined HSBC as Group banking division of the Group with operations Limited and, since 21 January 2010, of HSBC Finance Director in 1995 and served as Chief in over 65 countries and territories. Bank (Taiwan) Limited. An executive Director Financial Officer, Executive Director, Risk since 2008 and a member of the Corporate Safra Catz† and Regulation from 1 February 2010 until Sustainability Committee since 28 May 2010. Age 49 3 December 2010. A non-executive director Joined HSBC in 1978. Appointed a Group of BP p.l.c. since January 2005 and chairman President of Oracle Corporation. A non- General Manager in 1995 and a Group of its Audit Committee since April 2010 executive Director since 2008. Managing Managing Director in 2005. An independent but will retire at the BP AGM in April 2011. Director of Donaldson, Lufkin & Jenrette non-executive director of Great Eagle Director of The Hong Kong Association with from 1997 to 1999. Joined Oracle in 1999 and Holdings Limited and MTR Corporation effect from 6 February 2011. Co-chairman of appointed to the Board of Directors in 2001. Limited. Vice chairman of the China Banking the Counterparty Risk Management Policy Association. A member of the National Ms Catz brings to the Board a background Group III in 2008. Chaired the Financial Committee of the 11th Chinese People’s in international business leadership, having Reporting Council’s review of the Turnbull Political Consultative Conference (‘CPPCC’) helped transform Oracle into the second Guidance on Internal Control in 2004. and a senior adviser to the 11th Beijing biggest producer of management software Served on the Accounting Standards Board Municipal Committee of the CPPCC. and the world’s leading supplier of software and the Standards Advisory Council of the Ceased to be chairman and a director of The for information management. International Accounting Standards Board Hongkong and Shanghai Banking Corporation from 2001 to 2004. Served on the Large on 1 February 2010 and of HSBC †, GBS Limited Business Forum on Tax and Competitiveness sset Management (Hong Kong) Age 61 Global A and the Consultative Committee of the Large Limited on 4 February 2010. Ceased to be a Business Advisory Board of HM Revenue and (Appointed 1 March 2011) director of HSBC Bank Australia Limited and Customs. A former partner in KPMG. Non-executive Deputy Chairman of The a member of the Exchange Fund Advisory Mr Flint has extensive governance experience Hongkong and Shanghai Banking Corporation Committee of the Hong Kong Monetary gained through membership of the Boards Limited. A non-executive Director with effect Authority on 1 February 2010 and of HSBC of HSBC and BP as well as considerable from 1 March 2011. A non-official member Bank (Vietnam) Limited on 11 November knowledge of finance and risk management of the Executive Council of Hong Kong SAR. 2010. A non-executive director of Swire in banking, multinational financial reporting, Director of Hong Kong Exchanges and Pacific Limited from 2005 to 2008. treasury and securities trading operations. Clearing Limited, Tata Consultancy Services Awarded the by the In 2006 he was honoured with a CBE in Limited and China Telecom Corporation Hong Kong Government in 2005. Limited. Chairman of the ICAC Advisory recognition of his services to the finance Mr Cheng is a career banker with extensive industry. He is a member of the Institute of Committee on Corruption and of the University Grants Committee in Hong Kong. international business experience particularly Chartered Accountants of Scotland and the in Asia. Mr Cheng is Vice President of the Association of Corporate Treasurers and Vice-chairman of the International Advisory Council of the China Securities Regulatory Hong Kong Institute of Bankers and was he is a Fellow of The Chartered Institute chairman of the Process Review Panel for of Management Accountants. Commission and a Hong Kong delegate to the 11th National People’s Congress of China. the Securities and Futures Commission and of the Standing Committee on Directorate Stuart Gulliver A member of the Advisory Board of the Yale School of Management, and Millstein Center Salaries and Conditions of Service of the Group Chief Executive Hong Kong Government. Chairman of the Age 51 of Corporate Governance and Performance at Yale University and a Senior International Council of the Chinese University of Hong Group Chief Executive and chairman of the Advisor for Foundation Asset Management Kong since October 2009. He was seconded Group Management Board since 1 January Sweden AG. Former appointments include: to the Hong Kong Government’s Central 2011. An executive Director since 2008. non-executive director of Bank of Policy Unit from 1989 to 1991 serving as Joined HSBC in 1980. Appointed a Group Communications Co., Ltd from 2006 to an adviser to the Governor of Hong Kong. General Manager in 2000 and a Group 19 August 2010, Baoshan Iron and Steel Co. Marvin Cheung†, GBS, OBE Managing Director in 2004. Chairman of The Limited and Johnson Electric Holdings Age 63 Hongkong and Shanghai Banking Corporation Limited. A member of the State Bar of Limited with effect from 1 January 2011. California. She was awarded a Silver Bauhinia Non-executive chairman of the Airport Chairman of HSBC France since January Star in 2001 and a Gold Bauhinia Star in 2009 Authority Hong Kong. A non-executive 2009 and of HSBC Private Banking Holdings by the Hong Kong Government for her public Director since February 2009 and a member (Suisse) SA since 25 February 2010. Deputy service. of the Group Audit Committee since 1 March chairman of HSBC Trinkaus & Burkhardt AG 2010. A non-executive director of Hang Seng Mrs Cha has worked in the US and Asia and since 2007 and a member of its Supervisory Bank Limited, HKR International Limited and has extensive regulatory and policy-making Board since 2006. Chairman, Europe, Hong Kong Exchanges and Clearing Limited. experience in the finance and securities Middle East and Global Businesses until A non-official member of the Executive sector in Hong Kong and mainland China. 31 December 2010. Chairman of HSBC Bank Council of the Hong Kong Special Mrs Cha was Vice Chairman of the China plc from 21 April 2010 to 31 December 2010 Administrative Region. Non-executive Securities Regulatory Commission (‘CSRC’) and of HSBC Bank Middle East Limited from chairman of the Council of the Hong Kong from January 2001 to September 2004. 15 February 2010 to 31 December 2010. University of Science and Technology. She was appointed to the post by the Head of Global Banking and Markets from A director of The Association of Former State Council and became the first person 2006 to 2010 and co-head from 2003 to 2006. Council Members of The Stock Exchange outside mainland China to join the Central Head of Global Markets from 2002 to 2003. of Hong Kong Limited and The Hong Kong Government of the People’s Republic of Head of Treasury and Capital Markets in International Film Festival Society Limited. Asia-Pacific from 1996 to 2002. China at the vice-ministerial rank. Prior to

HSBC Holdings plc Annual Review 2010 23 Our Board: Promoting Your Interests (continued)

Ceased to be a non-executive director of Sun for global financial reporting and control, including aviation, insurance, property, Hung Kai Properties Limited in December tax and treasury. She has a Master’s in shipping, manufacturing and trading in the 2009. Chairman and Chief Executive Officer Business Administration from the Harvard Far East, UK, US and Australia. He is a Fellow of KPMG Hong Kong from 1996 to 2003. Business School. of the Institute of Chartered Accountants in A Council Member of the Open University England and Wales. of Hong Kong until June 2009. Awarded Sandy Flockhart, CBE the Gold Bauhinia Star by the Hong Kong Age 59 Sam Laidlaw† Age 55 Government in 2008. Chairman, Europe, Middle East, Africa, Latin Dr Cheung brings to the Board a background America, Commercial Banking and Chairman Chief Executive Officer of Centrica plc. in international business and financial of HSBC Bank plc with effect from 1 January A non-executive Director since 2008. accounting, particularly in Greater China and 2011. An executive Director since 2008. A member of the Remuneration Committee. the wider Asian economy. He retired from Joined HSBC in 1974. Appointed a Group Former appointments include: Executive KPMG Hong Kong in 2003 after more than General Manager in 2002 and a Group Vice President of Chevron Corporation; 30 years’ distinguished service with the firm. Managing Director in 2006. Chairman of non-executive director of Hanson PLC; He is a Fellow of the Institute of Chartered HSBC Latin America Holdings (UK) Limited Chief Executive Officer of Enterprise Oil plc; Accountants in England and Wales. since December 2009. A director of HSBC and President and Chief Operating Officer Bank Australia Limited. A member of the Visa of Amerada Hess Corporation. John Coombe† Asia Pacific Senior Advisory Council, Visa Inc. Mr Laidlaw brings to the Board significant Age 65 Chairman, Personal and Commercial international experience, particularly in the Banking and Insurance until 31 December Non-executive chairman of Hogg Robinson energy sector, having had responsibility for 2010. Chairman of HSBC Bank Malaysia Group plc. A non-executive Director since businesses in four continents. He has a Berhad from 2007 to 5 February 2010. 2005 and chairman of the Group Audit Master’s in Business Administration from Chief Executive Officer of The Hongkong Committee since 30 July 2010. A member INSEAD. He is a member of the UK Prime and Shanghai Banking Corporation Limited of the Remuneration Committee and, Minister’s Business Advisory Group and from 2007 to 1 February 2010. Ceased to be since 26 February 2010, of the Group Risk is the Senior Independent Director of the a director of HSBC Bank (China) Company Committee. A non-executive director of . Limited on 28 February 2010 and of Hang Home Retail Group plc. A trustee of the Seng Bank Limited on 31 December 2010. Royal Academy Trust. Former appointments Rachel Lomax† Ceased to be vice chairman and a director include: executive director and Chief Age 65 of HSBC Bank (Vietnam) Limited on 16 June Financial Officer of GlaxoSmithKline plc; 2010. President and Group Managing Director Former Deputy Governor, Monetary Stability, non-executive director of GUS plc; a member Latin America and the Caribbean from 2006 at the and a member of the of the Supervisory Board of Siemens AG; to 2007. Chief Executive Officer, Mexico Monetary Policy Committee. A non-executive chairman of The Hundred Group of Finance from 2002 to 2006. Senior Executive Director since 2008. A member of the Group Directors, and a member of the Accounting Vice-President, Commercial Banking, Audit Committee since March 2009 and of Standards Board. HSBC Bank USA, N.A. from 1999 to 2002. the Group Risk Committee since 26 February Mr Coombe brings to the Board a background Managing Director of The Saudi British Bank 2010. A non-executive director of The Scottish in international business, financial accounting from 1997 to 1999. American Investment Company PLC and and the pharmaceutical industry. As Chief Reinsurance Group of America Inc., and since Mr Flockhart is a career banker, being an Financial Officer of GlaxoSmithKline he had 7 July 2010, of Arcus European Infrastructure emerging markets specialist with over 35 responsibility for the Group’s financial Fund GP LLP. A non-executive director of years’ experience with HSBC across Latin operations globally. He is a Fellow of the BAA Limited since 24 November 2010. America, the Middle East, US and Asia. Institute of Chartered Accountants in England A director of the Council of Imperial College, In 2007 he was honoured with a CBE in and Wales. London and a member of the Board of the recognition of his services to British business Royal National Theatre. A member of the Rona Fairhead† and charitable services and institutions in Business Advisory Group to the UK Secretary Age 49 Mexico. of State for Business since 18 May 2010. Former appointments include: Deputy Chairman, Chief Executive Officer and a James Hughes-Hallett†, SBS Governor of the Bank of England from 2003 director of Financial Times Group Limited. Age 60 to 2008; Permanent Secretary at the UK A non-executive Director since 2004. Chairman of John Swire & Sons Limited. Government Departments for Transport and Chairman of the Group Risk Committee A non-executive Director since 2005. Work and Pensions and at the Welsh Office since 26 February 2010. A member of the A member of the Nomination Committee from 1996 to 2003; and Vice President and Group Audit Committee, having ceased to be and, since 26 February 2010, of the Group Chief of Staff to the President of the World chairman on 30 July 2010. A member of the Risk Committee. A member of the Group Bank from 1995 to 1996. Nomination Committee. A director of Pearson Audit Committee until 1 March 2010. plc and a non-executive director of The Ms Lomax brings to the Board business A non-executive director and former chairman Economist Newspaper Limited. A director of experience in both the public and private of Cathay Pacific Airways Limited and Swire the UK Cabinet Office since 16 December sectors and a deep knowledge of the Pacific Limited. A non-executive director 2010. Ceased to be chairman and a director of operation of the UK government and the of The Hongkong and Shanghai Banking Interactive Data Corporation on 30 July 2010. financial system. Corporation Limited from 1999 to 2004. Former appointments include Executive Vice A trustee of the Dulwich Picture Gallery President, Strategy and Group Control of Iain Mackay and the Esmée Fairbairn Foundation. Imperial Chemical Industries plc and Finance Group Finance Director A member of The Hong Kong Association Director of Pearson plc. Age 49 and the Governing Board of the Courtauld Mrs Fairhead brings to the Board a Institute of Art. Awarded the Silver Bauhinia An executive Director since 3 December background in international industry, Star by the Hong Kong Government in 2004. 2010. Joined HSBC in 2007. A Director of publishing, finance and general management. Limited until 31 December Mr Hughes-Hallett brings to the Board a As the former Finance Director of Pearson plc 2010. , Asia Pacific background in financial accounting and the she oversaw the day-to-day running of the from September 2009 to 3 December 2010 management of a broad range of businesses finance function and was directly responsible and Chief Financial Officer, North America in a number of international industries, from 2007 to September 2009. Former

24 HSBC Holdings plc Annual Review 2010

HS005_p23-48_vAW3_CS4.indd 24 14/03/2011 14:50 appointments include: Vice President and Director since 2006. Senior independent include: chairman of London International Chief Financial Officer of GE Consumer non-executive Director since 2007 and Financial Futures and Options Exchange Finance and Vice President and Chief Deputy Chairman since 1 December 2010. and Gerrard Group plc; a director of Climate Financial Officer of GE Healthcare – A member of the Nomination Committee. Exchange plc; and a non-executive director Global Diagnostic Imaging. A non-executive director of Berry Bros. & of Resolution plc, the Financial Services Rudd Limited, The Economist Newspaper Authority and the Court of The Bank Mr Mackay has extensive financial and Limited and Royal Opera House Covent of Ireland. international experience. He has worked in Garden Limited. A trustee of the Eden London, Paris, US and Asia. He is a member Sir Brian brings to the Board extensive Project Trust and of the Royal Opera House of the Institute of Chartered Accountants experience in money and bond markets, Endowment Fund. Former appointments of Scotland. insurance, private equity, futures, options include Managing Director of Goldman Sachs and commodities trading internationally. He International and chairman of Dresdner Gwyn Morgan†, CM established the London International Financial Kleinwort Benson. Age 65 Futures and Options Exchange in the 1980s Non-executive Chairman of SNC-Lavalin Sir Simon brings to the Board a background in and led the Exchange’s development of its Group Inc. A non-executive Director since international corporate advisory with a wealth electronic trading platform in the mid-1990s. 2006. A member of the Remuneration of experience in mergers and acquisitions, He was the first chairman of Resolution plc, Committee. A member of the Board of merchant banking, investment banking and established to consolidate life assurance Trustees of The Fraser Institute and the financial markets. During his career he has business in the UK. He is a member of the Manning Centre for Building Democracy. worked in France, Germany, the UK and the Guild for International Bankers. A non-executive director of HSBC Bank US. In June 2010 he was honoured with a from 1996 to 2006. Former knighthood in recognition of his services appointments include: Founding President, to business. Chief Executive Officer and Vice Chairman John Thornton† of EnCana Corporation; director of Alcan Inc.; Age 57 † Independent non-executive Director and director of Lafarge North America, Inc. A non-executive Director since 2008. Mr Morgan brings to the Board a background Chairman of the Remuneration Committee in technical, operational, financial and since 28 May 2010. Non-executive chairman management positions and has led large and a director of HSBC North America international companies in the energy and Holdings Inc since 2008. Professor and engineering sectors. He has been recognised director of the Global Leadership Program at as Canada’s most respected Chief Executive Secretary the Tsinghua University School of Economics Officer in a national poll of Chief Executives. and Management. Chairman of the Brookings He is currently a business columnist for Institution Board of Trustees. A non-executive Ralph Barber Canada’s largest national newspaper. He was director of Ford Motor Company, News Age 60 appointed a Member of the Order of Canada Corporation, Inc. and China Unicom (Hong Group Company Secretary since 1986. on 30 December 2010 for his contributions Kong) Limited. A director of National Appointed a Group General Manager in 2006. as a business and community leader and as Committee on United States-China Relations Joined HSBC in 1980. Company Secretary of a philanthropist. and a Trustee of Asia Society, China Institute, HSBC Holdings plc since 1990. Chairman of The China Foreign Affairs University, the Narayana Murthy†, CBE the Disclosure Committee. A member of the Palm Beach Civic Association and the United Age 64 Listing Authority Advisory Committee of World College of East Africa Trust. A member the Financial Services Authority and of the Chairman and Chief Mentor and former Chief of the Council on Foreign Relations, the Primary Markets Group of the London Stock Executive Officer of Infosys Technologies China Securities Regulatory Commission Exchange. Corporation Secretary of The Limited. A non-executive Director since 2008. International Advisory Committee and Hongkong and Shanghai Banking Corporation Chairman of the Corporate Sustainability China Reform Forum International Advisory Limited from 1986 to 1992 and Company Committee since 28 May 2010. A director Committee. Former appointments include: Secretary of HSBC Bank plc from 1994 of the United Nations Foundation. Ceased to a non-executive director of Industrial and to 1996. be a director of Unilever plc on 12 May 2010. Commercial Bank of China Limited from 2005 Former appointments include: a non- to 2008; Intel Corporation, Inc. from 2003 to executive director of DBS Group Holdings 18 May 2010; and President of the Goldman Limited, DBS Bank Limited and New Delhi Sachs Group, Inc. from 1999 to 2003. Advisero t the Board Television Limited. Mr Thornton brings to the Board experience Mr Murthy brings to the Board experience in that bridges developed and developing David Shaw information technology, corporate governance economies and the public and private Age 64 and education, particularly in India. He sectors. He has a deep knowledge of An Adviser to the Board since 1998. Solicitor. founded Infosys Technologies Limited in India financial services and education systems, A former partner in Norton Rose. A director in 1981 and was its Chief Executive Officer particularly in Asia. During his 23-year career of HSBC Bank Bermuda Limited, HSBC for 21 years. Under his leadership, Infosys with Goldman Sachs, he played a key role Private Banking Holdings (Suisse) SA established a global footprint and was listed in the firm’s global development and was and HSBC Private Bank (Suisse) SA. on NASDAQ in 1999. During his career he has Chairman of Goldman Sachs Asia. An independent non-executive director of worked in France and India. Kowloon Development Company Limited Sir Brian Williamson†, CBE and Shui On Land Limited. Sir Simon Robertson† Age 66 Deputy Chairman, senior independent A non-executive Director since 2002. non-executive Director A member of the Nomination Committee, Age 69 having ceased to be its chairman on Non-executive chairman of Rolls-Royce Group 26 February 2010. A director of NYSE Photographs of the Board of Directors plc and the founder member of Simon Euronext. Chairman of Electra Private Equity are shown on pages 8-9 Robertson Associates LLP. A non-executive plc until 24 May 2010. Former appointments

HSBC Holdings plc Annual Review 2010 25