HSBC 2010 Annual Report Download - page 232

HSBC HOLDINGS PLC
Directors’ Remuneration Report (continued)
Non-executive Directors > Fees // Pensions
230
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 2006,
is £65,000 per annum. Having considered
comprehensive data it is clear that the current
non-executive Directors’ fee is below the level paid
in other major UK companies. The approval will
therefore be sought at the Annual General Meeting in
2011 for the fee for non-executive Directors to be
increased to £95,000 per annum with effect from
1 January 2011. A fee of £30,000 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 fees1
Chairman Member
Meetings
held during
2010
£000 £000 (Number)
Group Audit Committee ............................................................................................. 40 20 6
Group Risk Committee ............................................................................................... 40 20 4
Remuneration Committee ........................................................................................... 40 20 9
Nomination Committee .............................................................................................. 30 20 3
Corporate Sustainability Committee .......................................................................... 30 20 5
1 The Board will consider increasing the fees for service on Board Committees during 2011.
The total of fees paid to each of the non-
executive Directors of HSBC Holdings for 2010,
being emoluments for the purposes of the
UK Companies Act 2006, is as follows:
Fees paid to non-executive Directors
(Audited)
2010 2009
£000 £000
S A Catz .................................................................................................................................................... 65 65
M K T Cheung1 ......................................................................................................................................... 112 89
J D Coombe .............................................................................................................................................. 130 105
J L Durán2 ................................................................................................................................................. 27 65
R A Fairhead ............................................................................................................................................. 152 135
W K L Fung2, 3 .......................................................................................................................................... 54 132
J W J Hughes-Hallett ................................................................................................................................ 105 105
W S H Laidlaw ......................................................................................................................................... 85 85
J R Lomax ................................................................................................................................................. 102 82
Sir Mark Moody-Stuart2 ........................................................................................................................... 51 125
G Morgan .................................................................................................................................................. 85 85
N R N Murthy ........................................................................................................................................... 91 85
Sir Simon Robertson ................................................................................................................................. 115 115
J L Thornton4 ............................................................................................................................................ 1,068 1,040
Sir Brian Williamson ................................................................................................................................ 87 95
Total .......................................................................................................................................................... 2,329 2,408
Total (US$000) ......................................................................................................................................... 3,597 3,756
1 Includes fees as a non-executive Director and member of the Audit Committee of Hang Seng Bank Limited.
2 Retired as a Director on 28 May 2010.
3 Includes fees as non-executive Deputy Chairman of The Hongkong and Shanghai Banking Corporation Limited.
4 Includes fees as non-executive Chairman of HSBC North America Holdings Inc.