News Release
17 March 2020

HSBC APPOINTS NOEL QUINNAS GROUP CHIEF EXECUTIVE
HSBC Holdings plc announces that Noel Quinn is appointed Group Chief Executive Officer.
This is effective immediately.
Group Chairman Mark Tucker, who led the global search, said:“Noel has proven to be the outstanding candidate to take on a role permanently that he has
performed impressively on an interim basis since August 2019. He is a strong and provenleader with extensive global banking expertise, deep client relationships and the energy andskill to drive the business forward at pace. In the last few months Noel has worked closelywith the Board to agree the key actions required to build and enhance performance on asustainable basis. He has shown a great understanding of HSBC, the challenges we face
and the significant opportunities for growth that lie ahead. We wish him the very best in taking
HSBC forward.”
Noel Quinn said:“I am honoured to be given the opportunity to lead HSBC as Group CEO. In leading the bankon an interim basis for the last few months, I have really enjoyed working with Mark, theBoard and over 230,000 colleagues around the world to reposition the Bank for success inthe future. HSBC is an outstanding global company with talented and dedicated people.
There is much that remains to be done and I am confident that we will rise to the challenge
and deliver for our shareholders, customers, employees and society at large.”
For and on behalf of
HSBC Holdings plc
Aileen Taylor
Group Company Secretary and Chief Governance Officer

Media enquiries to:
Heidi Ashley+44 (0) 20 7992 2045

Investor enquiries to:
Richard O’Connor+44 (0)20 7991 6590

heidi.ashley@hsbc.com

investorrelations@hsbc.com

moreThis news release is issued by

HSBC Holdings plc

Registered Office and Group Head Office:8 Canada Square, London E14 5HQ, United Kingdom
Web: www.hsbc.com
Incorporated in England with limited liability. Registered number 617987

HSBC Appoints Noel Quinn as Group Chief Executive/2

SUPPLEMENTARY INFORMATION
Noel Quinn, aged 58, joined HSBC in 1987. He is currently Interim Group Chief Executive. His
appointment as an Executive Director of HSBC Holdings plc (the Company) is subject to election at thenext annual general meeting of the Company. Mr Quinn’s remuneration as Executive Director andGroup Chief Executive of the Company under his service contract will consist of a base salary of£1,271,000 per annum, a fixed pay allowance of £1,700,000 per annum and a pension allowance of£127,100 per annum equal to 10% of his base salary. Mr Quinn’s service contract also provides fordiscretionary variable pay that consists of an annual incentive award up to a maximum value of 215% ofbase salary, and a long-term incentive award up to a maximum of 320% of base salary. This isdetermined by reference to the performance and profitability of the Company as well as his personal
performance and remuneration benchmarks in the industry.
Mr Quinn has not held any directorship in any other publicly listed companies, whether in London, Hong
Kong or overseas, during the previous five years and he does not have any relationship with any
directors, senior management, substantial or controlling shareholders of the Company. As at the date ofthis announcement, Mr Quinn is interested in 1,078,357 ordinary shares of the Company, representing
in aggregate less than 0.0053 per cent of the issued shares of the Company, within the meaning of Part
XV of the Securities and Futures Ordinance of Hong Kong.
This announcement is made pursuant to LR 9.6.11 of the UK Listing Authority’s Listing Rules (the UKListing Rules) and Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock
Exchange (the HK Listing Rules). No disclosure obligations arise under paragraphs (2) to (6) of LR
9.6.13 R of the UK Listing Rules. Details of directorships to be disclosed under paragraph (1) of LR
9.6.13 R of the UK Listing Rules are included within the biographical details set out above. Save as
disclosed above, there are no other matters concerning the appointment of Mr Quinn as Group Chief
Executive Officer that need to be brought to the attention of the shareholders of the Company nor isthere any other information that is required to be disclosed pursuant to the requirements of Rule13.51(2) of the HK Listing Rules.
Notes to editors:
1. Professional qualifications of Noel Quinn
Noel Quinn holds a BA (Honours) in Accountancy from Birmingham Polytechnic.
2. Career history and other appointments of Noel Quinn
08/2019 - presentHSBC, Interim Chief Executive Officer UK2015 - 2019
HSBC, Chief Executive of Global Commercial Banking UK
2011 - 2015
HSBC, Regional Head of CMB, Asia Pacific Hong Kong
2008 - 2011
HSBC, Head of CMB, UK
2007 - 2008
HSBC, Head of Commercial Finance Europe UK
2004 - 2007
HSBC, Group Director, Strategy & Development, North America USA
1987- 2004
Various roles in the UK including in Midland Bank and subsidiary businesses
3. The Board of Directors of HSBC Holdings plc as at the date of this announcement comprises:
Mark Tucker*, Noel Quinn, Kathleen Casey†, Laura Cha†, Henri de Castries†, Irene Lee†, José Antonio
Meade Kuribreña †, Heidi Miller†, David Nish†, Ewen Stevenson, Jackson Tai† and Pauline van der MeerMohr†.
* Non-executive Group Chairman† Independent non-executive Director
4. HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC
serves customers worldwide from offices in 64 countries and territories in our geographical regions:
Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of
US$2,715bn at 31 December 2019, HSBC is one of the world’s largest banking and financial servicesorganisations.
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