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HSBC Announces Leadership Transition in North America

7 October 2011

HSBC Holdings plc announces that Niall Booker, Group Managing Director and CEO of HSBC North America Holdings Inc., is leaving the Group.

HSBC has appointed Irene Dorner, Group General Manager, President and CEO of HSBC Bank USA, N.A., to Group General Manager, President and CEO of HSBC USA. Dorner will be responsible for the HSBC Bank and HSBC Finance businesses in the United States. Patrick Burke, Group General Manager and CEO of HSBC Finance Corporation, will report to Dorner. Dorner and Lindsay Gordon, Group General Manager, President and CEO of HSBC Bank Canada, will report to HSBC Group CEO Stuart Gulliver. The leadership changes are effective 1 November 2011, subject to regulatory approvals.

"I would like to thank Niall Booker for his many contributions to HSBC over his 30-year career, in particular the growth of our business in India under his leadership and more recently his role in reshaping our North American business to align it with our global strategy and ensuring a strong culture of compliance in the region. We wish him well in his future endeavours," said Stuart Gulliver, HSBC Group CEO. "I am delighted to have such experienced and talented Chief Executives in Irene Dorner and Lindsay Gordon in place to take the region forward," Gulliver added.

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The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations.

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