HSBC 2009 Annual Report Download - page 304

HSBC HOLDINGS PLC
Report of the Directors: Governance (continued)
Biographies > Senior management // Board of Directors > The Board
302
A P Long
Age 54. Group General Manager, Head of Global
Transaction Banking. Joined HSBC in 1977.
Appointed a Group General Manager in May 2008.
A M Losada
Age 55. President and Chief Executive Officer,
HSBC Argentina Holdings S.A. Joined HSBC in
1973. Appointed a Group General Manager in May
2008.
A M Mahoney
Age 47. Deputy Chief Executive Officer,
Continental Europe. Joined HSBC in 1983.
Appointed a Group General Manager in 2006.
M S McCombe
Age 43. Chief Executive Officer, Hong Kong. Joined
HSBC in 1987. Appointed a Group General Manager
in May 2008.
C M Meares
Age 52. Chief Executive Officer, Global Private
Banking. Joined HSBC in 1980. Appointed a Group
General Manager in 2006.
K Newman
Age 52. Group General Manager and Director of
One HSBC. Joined HSBC in 1989. Appointed a
Group General Manager in 2006.
K Patel
Age 61. Group General Manager, Chief Executive
Officer, Africa. Joined HSBC in 1984. Appointed a
Group General Manager in 2000.
L J Peña-Kegel
Age 50. Chief Executive, HSBC Mexico, S.A.,
Institucion de Banca Multiple, Grupo Financiero
HSBC. Joined HSBC in May 2008. Appointed a
Group General Manager in May 2008.
R C Picot
Age 52. Group Chief Accounting Officer. Joined
HSBC in 1993. Appointed a Group General
Manager in 2003.
C D Spooner
Age 59. Head of Group Financial Planning & Tax.
Joined HSBC in 1994. Appointed a Group General
Manager in 2007.
R J L Yorke
Age 42. President and Chief Executive Officer,
HSBC Bank (China) Company Limited. Joined
HSBC in 1989. Appointed a Group General Manager
in May 2008.
Board of Directors
The Board
The objective of the management structures within
HSBC, headed by the Board of Directors of HSBC
Holdings and led by the Group Chairman, is to
deliver sustainable value to shareholders.
Implementation of the strategy set by the Board is
delegated to the Group Management Board under the
leadership of the Group Chief Executive.
The developing framework for corporate
governance best practice and regulation in the
financial services industry is actively considered by
the Board. The draft recommendations and HSBC’s
response to the consultation on a Review of
Corporate Governance in UK Banks and other
Financial Industry Entities led by Sir David Walker
(‘the Walker Review’) were discussed by the Board
in September 2009. Following publication of the
final recommendations in November 2009, the
Board agreed actions to bring HSBC’s practices into
line with the review’s recommendations. The
principal changes were the establishment of a
separate Board Risk Committee with effect from
26 February 2010 and broadening of the terms of
reference of the Remuneration Committee.
HSBC Holdings has a unitary Board of
Directors. The authority of each Director is exercised
in Board meetings where the Board acts collectively
as a unit. At 1 March 2010, the Board comprises the
Group Chairman, Group Chief Executive, four other
executive Directors and 15 non-executive Directors.
The names and brief biographical particulars of the
Directors are listed on pages 294 to 299. The Group
Chairman, Group Chief Executive and four other
executive Directors are employees who carry out
executive functions in HSBC in addition to their
duties as Directors. Non-executive Directors are not
HSBC employees and do not participate in the daily
business management of HSBC. Non-executive
Directors bring an external perspective,
constructively challenge and help develop proposals