HSBC 2012 Annual Report Download - page 364

HSBC HOLDINGS PLC
Directors’ Remuneration Report (continued)
Appendix to DRR > Additional disclosures
362
Non-executive Directors’ fees
Non-executive Directors’ fees are regularly reviewed and compared with other large international companies of
comparable complexity. The current fee, which was approved by shareholders in 2011, is £95,000 per annum.
A fee of £45,000 per annum is payable to the senior independent non-executive Director. In addition, non-executive
Directors received the following fees for service on Board Committees:
Board Committee annual fees
Chairman Member
Number of
meetings
held during
£000 £000 2012
Group Audit Committee ............................................................................................. 50 30 5
Group Risk Committee ............................................................................................... 50 30 7
Group Remuneration Committee ............................................................................... 50 30 8
Financial System Vulnerabilities Committee1 ........................................................... 50 30 –
Nomination Committee .............................................................................................. 40 25 4
Corporate Sustainability Committee .......................................................................... 40 25 4
1 Established on 18 January 2013.
Fees paid to non-executive Directors
(Audited)
2012 2011
£000 £000
S A Catz .................................................................................................................................................... 95 95
L M L Cha1 ............................................................................................................................................... 548 465
M K T Cheung2 ......................................................................................................................................... 166 165
J D Coombe .............................................................................................................................................. 205 205
J Faber3 ..................................................................................................................................................... 104 –
R A Fairhead ............................................................................................................................................. 200 200
A A Flockhart4 .......................................................................................................................................... 70 –
J W J Hughes-Hallett ................................................................................................................................ 138 150
W S H Laidlaw ......................................................................................................................................... 125 125
J P Lipsky3 ................................................................................................................................................ 119 –
J R Lomax ................................................................................................................................................. 155 155
G Morgan5 ................................................................................................................................................ 50 125
N R N Murthy6 .......................................................................................................................................... 135 135
Sir Simon Robertson ................................................................................................................................. 180 166
J L Thornton7 ............................................................................................................................................ 1,092 1,081
Sir Brian Williamson5 ............................................................................................................................... 48 120
Total8 ......................................................................................................................................................... 3,430 3,187
Total (US$000)8 ........................................................................................................................................ 5,435 5,108
1 Includes fees as non-executive Director and Deputy Chairman of The Hongkong and Shanghai Banking Corporation Limited and a
member of its nomination committee.
2 Includes fees as non-executive Director and member of the audit committee of Hang Seng Bank Limited.
3 Appointed on 1 March 2012.
4 A non-executive Director from 1 May to 31 July 2012. Includes fees as a non-executive Director and Chairman of HSBC Bank plc and a
non-executive Director of HSBC Bank Middle East Limited from 1 May to 31 July 2012.
5 Retired on 25 May 2012.
6 Retired on 31 December 2012.
7 Includes fees as non-executive Chairman of HSBC North America Holdings Inc.
8 Total fees for 2011 and 2012 include the fees of non-executive Directors who retired in that year.
Non-executive Directors are appointed for fixed terms not exceeding three years, subject to their re-election by
shareholders at Annual General Meetings. Non-executive Directors have no service contract and are not eligible to
participate in our share plans. Non-executive Directors’ current terms of appointment will expire as follows:
• in 2013, R A Fairhead;
• in 2014, S A Catz, L M L Cha, J D Coombe, J W J Hughes-Hallett and W S H Laidlaw; and
• in 2015, M K T Cheung, J Faber, J P Lipsky, J R Lomax, Sir Simon Robertson and J L Thornton.