HSBC Holdings Regulatory News (HSBA)

HSBC HOLDINGS PLC

CHANGES TO BOARD AND COMMITTEE COMPOSITION

HSBC Holdings plc (the 'Company') has today announced the appointment of Eileen K Murray (62) as an independent non-executive Director of the Company. The appointment will take effect from 1 July 2020. She will also be appointed as a member of the Group Audit Committee, Group Risk Committee and the Nomination & Corporate Governance Committee.

Ms Murray is an accomplished executive with over 40 years of experience in financial services. She was recently elected designate Chair of the Financial Industry Regulatory Authority ('FINRA'), a self-regulating organisation for US financial securities firms. She most recently served as Co-CEO of Bridgewater Associates, LP ('Bridgewater'). Prior to joining Bridgewater, she was Chief Executive Officer for Investment Risk Management LLC and President and Co-CEO of Duff Capital Advisors.

Ms Murray launched her professional career in 1984 at Morgan Stanley, where she held several senior positions including Controller, Treasurer, and Global Head of Technology and Operations, as well as Chief Operating Officer for the firm's Institutional Securities Group. From 2002 to 2005, she was Head of Global Technology, Operations and Product Control at Credit Suisse and served on the firm's management and executive board.

Commenting on the appointment, HSBC's Group Chairman, Mark Tucker, said: "I am absolutely delighted to welcome Eileen. Her wealth of experience across banking and finance, together with her extensive knowledge of financial technologies and corporate strategy, will bring an invaluable perspective to the Board."

The Directors have determined that Ms Murray is independent. In making that determination, the Directors have concluded that there are no other relationships or circumstances which are likely to affect her judgement and that any relationships or circumstances which could appear to do so were not considered to be material.

For and on behalf of

HSBC Holdings plc

Aileen Taylor

Group Company Secretary and Chief Governance Officer

Media enquiries to:

Heidi Ashley +44 (0) 20 7992 2045 heidi.ashley@hsbc.com

Supplementary information:

As an independent non-executive Director, Ms Murray will not have a service contract with HSBC Holdings plc and will be paid total fees of £244,000 per annum pursuant to the Directors' remuneration policy approved by shareholders at the 2019 Annual General Meeting. The total per annum fees consist of: £127,000 for her role as independent non-executive Director, £40,000 as a member of the Group Audit Committee, £40,000 as a member of the Group Risk Committee, £33,000 as a member of the Nomination & Corporate Governance Committee and a £4,000 Travel Allowance.

Ms Murray's appointment as a Director of HSBC Holdings plc is subject to election by shareholders at the 2021 Annual General Meeting ('AGM') and annual re-election thereafter. Her initial three-year term will run from her initial election, if successful, until the 2024 AGM.

Ms Murray has not held any directorships in any other publicly listed companies, whether in London, Hong Kong or overseas, during the previous five years and she does not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company. She does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

There are no matters relating to the appointment of Ms Murray that need to be disclosed pursuant to Listing Rule 9.6.13(2) to (6) of the Listing Rules of the Financial Conduct Authority. Save as disclosed above there is no other information required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange of the Hong Kong Limited.

Notes to editors:

1. Professional qualifications of Ms Murray

Bachelor of Science in Accounting. Manhattan College, 1980.

2. The Board of Directors of HSBC Holdings plc as at the date of this announcement is:

Mark Tucker*, Noel Quinn, Laura Cha†, Henri de Castries†, James Anthony Forese†, Steven Guggenheimer†, Irene Lee†, José Antonio Meade Kuribreña†, Heidi Miller†, Eileen K Murray†, David Nish†, Ewen Stevenson, Jackson Tai† and Pauline van der Meer Mohr†.

* Non-executive Group Chairman 

† Independent non-executive Director

3. The HSBC Group

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,918bn at 31 March 2020, HSBC is one of the world's largest banking and financial services organisations.

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