HSBC 2008 Annual Report Download - page 303

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covering all material controls, including financial,
operational and compliance controls and risk
management systems. The Group Audit Committee
has received confirmation that management has
taken or is taking the necessary action to remedy any
failings or weaknesses identified through the
operation of HSBC’s framework of controls.
Directors’ interests
Pursuant to the requirements of the UK Listing Rules
and according to the register of Directors’ interests
maintained by HSBC Holdings pursuant to section
352 of the Securities and Futures Ordinance of
Hong Kong, the Directors of HSBC Holdings at
31 December 2008 had the following interests, all
beneficial unless otherwise stated, in the shares and
loan capital of HSBC and its associated
corporations:
Directors’ interests
HSBC Holdings ordinary shares of US$0.50
At 31 December 2008
At
1 January
2008 or date
appointed if
later
Beneficial
owner
Child
under 18
or spouse
Controlled
corporation
Jointly
with
another
person Trustee
Total
interests1
V H C Cheng .............................. 241,4692 177,630 123,160 – – – 300,790
J D Coombe ................................ 46,327 13,250 – – – – 13,250
D J Flint ...................................... 112,781 88,456 – – – 31,0003 119,456
A A Flockhart ............................. 164,9302 172,583 – – – – 172,583
W K L Fung ................................ 328,000 208,000 – 120,000 – – 328,000
M F Geoghegan .......................... 385,189 477,434 – – – – 477,434
S K Green ................................... 536,652 622,066 – – 45,355 – 667,421
S T Gulliver ................................ 2,235,4312 2,194,407 85,454 – – – 2,279,861
J W J Hughes-Hallett .................. 554,435 – – – – 376,4274 376,427
W S H Laidlaw ........................... 24,500 20,693 – – – 1,0004 21,693
Sir Mark Moody-Stuart .............. 10,840 5,000 840 – – 5,0004 10,840
G Morgan .................................... 50,000 52,873 – – – – 52,873
S M Robertson ............................ 98,317 5,620 – – – 93,0004 98,620
Sir Brian Williamson .................. 23,164 24,496 – – – – 24,496
1 Details of executive Directors’ other interests in HSBC Holdings ordinary shares of US$0.50 arising from the HSBC Holdings
savings-related share option plans, and the HSBC Share Plan are set out in the Directors’ Remuneration Report on pages 314 to 328.
At 31 December 2008, the aggregate interests under the Securities and Futures Ordinance of Hong Kong of V H C Cheng, D J Flint,
A A Flockhart, M F Geoghegan, S K Green and S T Gulliver in HSBC Holdings ordinary shares of US$0.50, including interests arising
through employee share plans were: V H C Cheng – 791,228; D J Flint – 955,242; A A Flockhart – 558,559; M F Geoghegan -
2,211,264; S K Green – 2,456,279 and S T Gulliver – 3,536,102. Each Director’s total interests represents less than 0.033 per cent of
the shares in issue.
2 V H C Cheng was appointed a Director on 1 February 2008 and A A Flockhart and S T Gulliver were appointed Directors on 1 May
2008.
3 Non-beneficial interest in 10,334 HSBC Holdings ordinary shares of US$0.50.
4 Non-beneficial.
M F Geoghegan has an interest as beneficial
owner in 280,000 ordinary shares of HK$5.00 each
in Hang Seng Bank (representing less than 0.02 per
cent of the shares in issue), which he held throughout
the year.
S K Green has an interest as beneficial owner
in €75,000 of HSBC Holdings plc 5½ per cent
Subordinated Notes 2009, which he held throughout
the year.
As Directors of HSBC France, S K Green and
S T Gulliver each have an interest as beneficial
owner in one share of €5 in that company
(representing less than 0.01 per cent of the shares in
issue). S K Green has held this interest throughout
the year. S T Gulliver has held this interest since
1 January 2009. The Directors have waived their
rights to receive dividends on these shares and have
undertaken to transfer these shares to HSBC on
ceasing to be Directors of HSBC France.
As Directors of HSBC Private Banking
Holdings (Suisse), S K Green and S T Gulliver each
have an interest as beneficial owner in one share of
CHF1,000 in that company (representing less than
0.01 per cent of the shares in issue), which they held
throughout the year. The Directors have waived their
rights to receive dividends on these shares and have
undertaken to transfer these shares to HSBC on
ceasing to be Directors of HSBC Private Banking
Holdings (Suisse).