HSBC Holdings Plc
HSBA:LN
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Company Profile
Britain's largest bank, HSBC has steadily expanded away from its roots in South East Asia. In the UK it took over Midland Bank, while there has been a succession of acquisitions in the US, which includes Household International, now known as HSBC Finance.
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Corporate
Board of Directors
Douglas Flint
Group Chairman
Douglas Flint is Group Chairman of HSBC Holdings plc. He began his career with Peat Marwick Mitchell & Co. (now KPMG) where he trained as a chartered accountant. He was appointed a partner of the firm in 1988. Mr Flint specialised in banking, multinational financial reporting, treasury and securities trading operations, group re-organisations and litigation support while at KPMG. He joined HSBC on 30 September 1995 and was appointed to the Board as Group Finance Director on 1 December 1995. In February 2010, Mr Flint’s responsibilities were broadened to that of Chief Financial Officer, Executive Director Risk and Regulation. He was appointed Group Chairman of HSBC Holdings plc on 3 December 2010. Mr Flint was appointed Chairman of the Institute of International Finance in June 2012. He is a member of both the Mayor of Beijing’s and the Mayor of Shanghai’s International Business Leaders’ Advisory Councils, as well as a member of the International Advisory Board of the China Europe International Business School, Shanghai. He was an independent external member of the Financial Services Trade and Investment Board in the UK until June 2015 and has been, by invitation from the Prime Minister, a British Business Ambassador since January 2014. Mr Flint was born in Scotland in July 1955 and was educated at Glasgow University where he gained a B.Acc (Hons) degree. He also completed the PMD course at Harvard Business School in 1983. He is a member of the Institute of Chartered Accountants of Scotland and the Association of Corporate Treasurers. He is a Fellow of The Chartered Institute of Management Accountants. In June 2006, he was honoured with a CBE (Commander of the British Empire) by Her Majesty the Queen in recognition of his services to the finance industry. Mr Flint was Chairman of the Financial Reporting Council’s review of the Turnbull Guidance on Internal Control from 2004-2005 and served on the Accounting Standards Board and the Advisory Council of the International Accounting Standards Board from 2001-2004. He also served on the Shipley Working Group on Public Disclosure and co-chaired the Group of Thirty report on Enhancing Public Confidence in Financial Reporting, and the 2008 Report of the CRMPG III, “Containing Systemic Risk: The Road to Reform”. Mr Flint served as a non-executive director of BP plc from 1 January 2005 until 14 April 2011 and was Chairman of its Audit Committee in his final year. Mr Flint is married with three children. His hobbies include golf.
Stuart Gulliver
Group Chief Executive
Stuart Gulliver is Group Chief Executive of HSBC Holdings plc. He is also Chairman of The Hongkong and Shanghai Banking Corporation Limited. Mr Gulliver joined HSBC in 1980 and has held a number of key roles in the Group’s operations worldwide, including postings in London, Hong Kong, Tokyo, Kuala Lumpur and the United Arab Emirates. Before his appointment as Group Chief Executive of HSBC Holdings plc in January 2011, he was Chairman of Europe, Middle East and Global Businesses of HSBC Holdings plc. He was appointed Chief Executive of Global Banking and Markets and HSBC Global Asset Management in May 2006. He has also served as Chairman of HSBC France, Deputy Chairman of Trinkaus & Burkhardt AG and on the boards of HSBC Bank plc, HSBC Bank Middle East Limited, HSBC USA Inc. and HSBC Bank USA, N.A. Mr Gulliver was appointed to the HSBC Group Management Board in March 2004 and became a Group General Manager in August 2000. He has been an Executive Director of HSBC Holdings plc since May 2008 and an Executive Director of The Hongkong and Shanghai Banking Corporation Limited since September 2006. Mr Gulliver is a member of the International Advisory Panel of the Monetary Authority of Singapore and of the International Advisory Council of the China Banking Regulatory Commission of the People\'s Republic of China. Mr Gulliver holds a law degree from Oxford University.
Iain Mackay
Group Finance Director
Iain Mackay was appointed as Group Finance Director of HSBC Holdings plc in December 2010. A chartered accountant, Mr Mackay joined HSBC in July 2007. He initially served as Chief Financial Officer of HSBC North America Holdings Inc, where he was instrumental in the restructuring of HSBC’s consumer finance business. From September 2009 until his appointment to the Board as Group Finance Director, Mr Mackay was Chief Financial Officer, Asia-Pacific, of HSBC Holdings plc. Before joining HSBC, Mr Mackay worked at General Electric in the US from 1996 to 2007. He joined GE as Controller of the Global Consumer Finance unit, which specialised in providing credit cards and personal loans. He then became Chief Financial Officer of GE Consumer Finance – Americas, then Chief Financial Officer of GE Healthcare – Global Diagnostic Imaging. From 1990 to 1996, Mr Mackay was with Schlumberger Dowell, working in the finance and audit divisions. He also held the roles of Regional Finance Director for Europe/Africa and for South-East Asia. During the early part of his career, Mr Mackay also worked for PriceWaterhouse in New York and Paris, as well as at Thomson McLintock, KMG in the UK. Mr Mackay was appointed as a member of the audit committee of the British Heart Foundation in December 2014. He holds an MA in Business Studies and Accounting from Aberdeen University in Scotland.
Phillip Ameen
Independent non-executive Director, member of the Group Audit Committee
Phillip Ameen was appointed to the Board on 1 January 2015. As a former Certified Public Accountant, he has extensive experience in accounting standards setting and reporting. Mr Ameen is a former Vice President, Comptroller and Principal Accounting Officer of General Electric Corp (GE). He holds a Bachelor of Science, Accounting degree from the University of North Carolina at Chapel Hill and started his career at Peat Marwick Mitchell & Co (now KPMG) where he became a technical audit partner in the Executive Office. He joined GE Capital in 1985 and until 2008 led a team of around 2,000. He retired from the company in 2009. Mr Ameen has served on the International Financial Reporting Interpretations Committee of the International Accounting Standards Board, the Accounting Standards Executive Committee of the American Institute of Certified Public Accountants, was the longest-serving member of the Financial Accounting Standards Board Emerging Issues Task Force and Chairman of the Committee on Corporate Reporting of Financial Executives International. He has also served as a Trustee of the Financial Accounting Foundation Inc. Mr Ameen joined the Board of HSBC North America Holdings Inc. (HNAH) in April 2012 and chairs its Audit Committee and serves on its Risk Committee. He is also on the boards of the principal subsidiaries of HNAH, chairing their audit committees and serving on their risk committees.
Kathleen Casey
Independent non-executive Director, member of the Group Audit Committee and the Financial System Vulnerabilities Committee
Kathleen Casey was appointed to the Board on 1 March 2014. She has extensive financial regulatory policy experience. Between 2006 and 2011 she served as a Commissioner of the US Securities and Exchange Commission (SEC), acting as its principal representative in dialogues with the G20 Financial Stability Board and the International Organisation of Securities Commissions. Before her appointment to the SEC she spent 13 years working for the US Government, where she held positions including Staff Director and Counsel of the US Senate Committee on Banking, Housing and Urban Affairs; and Legislative Director and Chief of Staff for a US Senator. Ms Casey is Chairman of the Alternative Investment Management Association and a Senior Adviser to Patomak Global Partners. She is a member of the Board of Trustees of Pennsylvania State University, the Trust Fund Board of the Library of Congress and the Advisory Council of the Public Company Accounting Oversight Board. Ms Casey holds a JD degree from the George Mason University School of Law and a BA in international politics from Pennsylvania State University.
Safra Catz
Independent non-executive Director
Safra Catz was appointed to the Board in 2008. She has a background in international business leadership, having helped transform Oracle into the largest producer of business management software and the world\'s leading supplier of software for information management. Ms Catz was appointed joint Chief Executive Officer of Oracle Corporation in September 2014, having previously been President and Chief Financial Officer. She joined Oracle in 1999 and was appointed to the board of directors in 2001. She was formerly Managing Director of Donaldson, Lufkin & Jenrette.
Laura Cha, GBS
Independent non-executive Director, Chairman of the Philanthropic & Community Investment Oversight Committee, and member of the Nomination Committee and the Conduct & Values Committee
Laura Cha was appointed to the Board on 1 March 2011. She has extensive regulatory and policymaking experience in the finance and securities sector in Hong Kong and mainland China. She was formerly Vice Chairman of the China Securities Regulatory Commission, being the first person outside mainland China to join the Central Government of the People\'s Republic of China at vice-ministerial rank. The Hong Kong Government has awarded her Gold and Silver Bauhinia Stars for public service. Ms Cha is a non-executive Deputy Chairman of The Hongkong and Shanghai Banking Corporation Limited; non-official member of the Executive Council of Hong Kong SAR; a Hong Kong Delegate to the 12th National People\'s Congress of China; non-executive director of China Telecom Corporation Limited; Senior International Adviser for Foundation Asset Management Sweden AB; member of the State Bar of California; Chairman of the Financial Services Development Council of Hong Kong SAR; non-executive director of Unilever PLC and Unilever N.V.; Vice Chairman of the International Advisory Council of the China Securities Regulatory Commission and a member of the China Banking Regulatory Commission’s International Advisory Council. She earned a BA degree from the University of Wisconsin and a JD degree from the Santa Clara University in California. She is a former Deputy Chairman of the Securities and Futures Commission in Hong Kong; and has worked in the USA and Asia. She was also formerly a non-executive director of Hong Kong Exchanges and Clearing Limited and Tata Consultancy Services Limited; Chairman of the University Grants Committee in Hong Kong and the Independent Commission Against Corruption (ICAC) Advisory Committee on Corruption; a member of the Advisory Board of the Yale School of Management; non-executive director of the Bank of Communications Co Ltd, Baoshan Iron and Steel Co Limited, and Johnson Electric Holdings Limited.
Lord Evans of Weardale
Independent non-executive Director, Chairman of the Financial System Vulnerabilities Committee, member of the Conduct & Values Committee and Philanthropic & Community Investment Oversight Committee
Lord Evans of Weardale was appointed to the Board on 6 August 2013. He spent 33 years in the UK Security Service, six as Director General. Lord Evans’ experience includes counter-espionage, protection of classified information and the security of critical national infrastructure. His main focus was counter-terrorism, both international and domestic, including initiatives against cyber threats. As Director General he was a senior advisor to the UK government on national security policy and attended the National Security Council. In 2014 he became a peer, Lord Evans. He was appointed Knight Commander of the Order of the Bath in the 2013 New Year Honours List. He retired from the Security Service in April 2013. Lord Evans graduated from Bristol University, where he gained a degree in Classical Studies. He is a member of the advisory board of Darktrace Limited and an advisor to Facewatch Limited.
Rona Fairhead, CBE
Independent non-executive Director, member of the Financial System Vulnerabilities Committee and Nomination Committee
Rona Fairhead joined the Board in December 2004. She has a background in international industry, publishing, finance and general management. She was formerly chairman and CEO of the Financial Times Group Limited responsible for the strategy, management and operations of a global media and information business and Finance Director of Pearson plc with responsibility for overseeing the day-to-day running of the finance function and directly responsible for global financial reporting and control, tax and treasury. Ms Fairhead has a Master\'s degree in Business Administration from the Harvard Business School. She is the chairman of HSBC North America Holdings Inc.; chairman of the BBC Trust; and by invitation from the Prime Minister a British Business Ambassador. She is also a non-executive director of PepsiCo Inc. Formerly, Ms Fairhead was executive vice president, Strategy and Group Control of Imperial Chemical Industries plc; chairman and a director of Interactive Data Corporation; a non-executive director of The Economist Newspaper Limited; and a non-executive member of the board of the UK Government’s Cabinet Office.
Sam Laidlaw
Independent non-executive Director, Chairman of the Group Remuneration Committee and the Nomination Committee
Sam Laidlaw was appointed to the Board in 2008. He has significant international experience, particularly in the energy sector, having had responsibility for businesses in four continents. He is a qualified solicitor and has a Master\'s degree in Business Administration from INSEAD. He was Chief Executive Officer of Centrica plc and the lead non-executive board member of the UK Department for Transport until 31 December 2014. His other previous roles include Executive Vice President of Chevron Corporation; non-executive director of Hanson PLC; Chief Executive Officer of Enterprise Oil plc; and President and Chief Operating Officer of Amerada Hess Corporation. He was also a member of the UK Prime Minister’s Business Advisory Group.
Irene Lee
Independent non-executive Director
Irene Lee was appointed to the Board on 1 July 2015. She has more than 30 years of experience in the finance industry. She has held senior positions in investment banking and fund management in the UK, USA and Australia with the Commonwealth Bank of Australia, SealCorp Holdings Limited and Citibank. Ms Lee is currently a non-executive director of The Hongkong and Shanghai Banking Corporation Limited and Hang Seng Bank Limited. She is Executive Chairman of Hysan Development Company Limited and a non-executive director of Cathay Pacific Airways Limited, China Light & Power Holdings Limited and Noble Group Limited. Ms Lee served as a member of the Advisory Council of JP Morgan Australia from 2005-2013 and has previously held non-executive director roles for companies including QBE Insurance Group Limited, Keybridge Capital Limited and ING Bank (Australia) Limited. She has served as a member of the Australian Takeovers Panel and on the boards of government organisations including the Art Gallery of New South Wales and the Sydney Symphony Orchestra.
John Lipsky
Independent non-executive Director, member of the Group Risk Committee, the Nomination Committee and the Group Remuneration Committee
John Lipsky was appointed to the Board in March 2012. He served at the International Monetary Fund as First Deputy Managing Director, Acting Managing Director from May 2011, and as Special Adviser from September 2011, until retirement in November 2011. Mr Lipsky’s international experience includes having worked in Chile, New York, Washington and London. He has interacted with financial institutions, central banks and governments in many countries. He is currently Senior Fellow, Foreign Policy Institute at the Paul H. Nitze School of Advanced International Studies, Johns Hopkins University; a co-chairman of the Aspen Institute Program on the World Economy; a director of the National Bureau of Economic Research and the Center for Global Development; and a member of the advisory board of the Stanford Institute for Economic Policy Research and the Council on Foreign Relations. He is also Chairman of the World Economic Forum’s Global Agenda Council on the International Monetary System. Previously he was Vice Chairman of JPMorgan Investment Bank; a director of the American Council on Germany and the Japan Society; a trustee of the Economic Club of New York; and a Global Policy Adviser for Anderson Global Macro, LLC. He has a PhD from Stanford University.
Rachel Lomax
Senior independent non-executive Director, Chairman of the Conduct & Values Committee, member of the Nomination Committee, Group Audit Committee and the Group Risk Committee
Rachel Lomax joined the HSBC Board of Directors in 2008. She has experience in the public and private sectors, plus a deep knowledge of the operations of the UK government and financial system. Her previous appointments include Deputy Governor, Monetary Stability, at the Bank of England (BoE) and a member of the BoE’s Monetary Policy Committee; Permanent Secretary at the UK Government Departments for Transport and Work and Pensions and the Welsh Office; and Vice President and Chief of Staff to the President of the World Bank. She is the chairman of the International Regulatory Strategy Group and director of TheCityUK; director of Bruegel, a Brussels-based European think tank; non-executive director of Arcus European Infrastructure Fund GP LLP and Heathrow Airport Holdings Limited; member of the Council of Imperial College, London; trustee of the Ditchley Foundation; and President of the Institute of Fiscal Studies. She is also a non-executive director and chairman of the corporate responsibility committee of Serco Group plc.
Heidi Miller
Independent non-executive Director, member of the Group Risk Committee and the Conduct & Values Committee
Heidi Miller was appointed to the Board in September 2014. She has extensive experience of international banking and finance from a career spanning more than 30 years. Ms Miller was President of International at JPMorgan Chase & Co between 2010 and 2012 where she led the bank’s global expansion and international business strategy across the Investment Bank, Asset Management and Treasury and Securities Services divisions. Before this, she ran the Treasury and Securities Services division for six years. Other past roles have included Chief Financial Officer of Bank One Corporation and Senior Executive Vice President of Priceline.com Inc. She graduated from Princeton University in 1974 with a BA in history and received a PhD in Latin American history from Yale University in 1979. Ms Miller is a non-executive Director of First Data Corporation and General Mills Inc. She is also a trustee of the International Financial Reporting Standards Foundation.
Marc Moses
Executive Director and Group Chief Risk Officer
Marc Moses was appointed as an Executive Director of HSBC Holdings plc in January 2014. He is Group Chief Risk Officer, with responsibility for risk and compliance, and a member of the Group Management Board, positions he has held since December 2010. Mr Moses joined HSBC in November 2005 as Chief Financial and Risk Officer with global responsibility for leading and managing the Global Banking and Markets finance and risk functions. In January 2008 he was also appointed Chief of Staff, responsible for all infrastructure in Global Banking and Markets. Mr Moses began his career at Sedgwick before joining Bankers Trust as a fixed income, money market and futures trader. He is a qualified accountant and was audit partner and head of the market risk advisory group at PricewaterhouseCoopers. In 1999 he joined JP Morgan as European chief financial officer and global head of the valuation control group. Mr Moses lives in North London and is married with four children. He is a keen Arsenal supporter and enjoys playing tennis.
Sir Simon Robertson
Deputy Chairman, member of the Group Remuneration Committee
Sir Simon joined the Board in 2006. His extensive international experience includes working in France, Germany, the UK and the USA. Sir Simon Robertson has a background in international corporate advisory work with a wealth of experience in mergers and acquisitions, merchant banking, investment banking and financial markets. He was honoured with a knighthood in recognition of his services to business. He is the founding member of Simon Robertson Associates LLP; a non-executive director of Berry Bros & Rudd Limited, The Economist Newspaper Limited and Troy Asset Management; and a trustee of the Eden Project Trust and of the Royal Opera House Endowment Fund. His previous roles include non-executive Chairman of Rolls-Royce Holdings plc; a non-executive director of NewShore Partners Limited and of Royal Opera House, Covent Garden Limited; Managing Director of Goldman Sachs International and Chairman of Dresdner Kleinwort Benson.
Jonathan Symonds, CBE
Independent non-executive Director, Chairman of the Group Audit Committee, member of the Conduct & Values Committee
Jonathan Symonds, CBE, was appointed as an independent non-executive Director of HSBC Holdings plc in April 2014. He has extensive international financial and governance experience. Mr Symonds is Chairman of HSBC Bank plc, HSBC’s European subsidiary, which offers services to clients in the UK and Continental Europe. Mr Symonds was Chief Financial Officer of Novartis AG from 2009 to 2013. Before joining Novartis he was a Partner and Managing Director of Goldman Sachs (2007-2009); Chief Financial Officer of AstraZeneca plc (1997-2007); and a Partner at KPMG (1992-1997). His governance experience includes roles as non-executive Director and chair of the audit committees of Diageo plc and QinetiQ plc. He is currently Chairman of Innocoll AG and a non-executive director of Genomics England Limited and of Proteus Digital Health Inc. Mr Symonds is a Fellow of the Institute of Chartered Accountants in England and Wales. He has a BA, First Class Honours in Business Finance from the University of Hertfordshire.
Ben Mathews
Group Company Secretary
Ben Mathews was appointed Group Company Secretary of HSBC Holdings plc on 1 July 2013. He joined from Rio Tinto, where he had been Company Secretary since 2007, managing the dual listings in London and Sydney. Before that, Mr Mathews spent more than five years with BG Group plc, the leading natural gas major. He has extensive experience in international corporates, mergers and acquisitions, corporate governance and share listing across a range of companies. He qualified as a chartered company secretary with PricewaterhouseCoopers in London. He graduated with honours in European Studies and French. After a period of post-graduate study he was elected as a Fellow of the Institute of Chartered Secretaries and Administrators.
Joachim Faber
Non Executive director
Joachim Faber was appointed to the Board on March 2012. He has a background in banking and asset management with significant international experience, having worked in Germany, Tokyo, New York and London. Mr Faber was formerly Chief Executive Officer of Allianz Global Investors AG and a member of the management board of Allianz SE. He is an independent director of Coty Inc. and a director of Allianz France SA, as well as the Chairman of the Shareholder Committee of Joh A Benckiser SARL and the supervisory board of Deutsche Boerse AG. He is also a member of the advisory board of the European School for Management and Technology and council member of the Hongkong-Europe Business Council. He has 14 years’ experience with Citigroup Inc., holding positions in Trading and Project Finance and as Head of Capital Markets for Europe, North America and Japan. He holds a law degree from Bonn University and has a doctorate from the German University of Administrative Sciences in Speyer.