Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 393

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 393
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 revised matters reserved to the Board and terms of reference for the Board committees. The Board also reviewed and monitored the implications of geopolitical and macroeconomic developments during the year, both directly and by way of updates from the Group Risk Committee, and received regular updates on the Group’s risk profile, including in relation to financial crime risk. Technology Throughout the year, the Board received updates on technology and innovation from the Group Chief Operating Officer and Group Chief Information Officer. These included regular updates on the programme established to simplify the Group’s technology infrastructure, enhance system resilience, and accelerate digital transformation across the bank, following recommendations from the third-party review of technology strategy conducted in 2023. The Technology Governance Working Group was demised on 1 March 2024, and the Group Technology Committee (‘GTC‘) became effective from the same date. Since its establishment, the GTC has supported the Board in overseeing execution of the technology strategy with a focus on areas where technology is fundamental to strategic delivery including technology architecture, innovation, data and cybersecurity. In December 2024, the remit of the GTC (renamed the Group Technology and Operations Committee (‘GTOC‘)) was extended to cover oversight of global operations, reflecting changes to the Group’s organisational structure and in recognition of the importance of operations to delivery of the Group’s strategy. The Board received regular updates from the Chair of GTOC during the year. For further details of matters considered at GTOC, refer to the Group Technology and Operations Committee Report on page 306 . People and culture The Board is responsible for setting and monitoring the desired culture of the Group and dedicates time to people and culture related matters at Board and Committee meetings and in its engagements with management and the wider workforce. Each scheduled Board meeting begins with a ’culture moment’, which helps to ensure that the right cultural tone is set from the top and establishes the right cultural context for Board discussion. To help raise its awareness of employee and other stakeholder perspectives, Board meetings and dedicated reports feature insights into behaviours within the Group, which demonstrate alignment to its purpose and values. Board papers highlight relevant stakeholder considerations, including in connection with its workforce. The Board also gains valuable cultural insights through its many personal interactions with the workforce and other stakeholders. Additionally, the Board receives cultural insights from the all- employee Snapshot survey and broader reporting, which provides key data indicators, including on peoples' behaviours, sentiment and business outcomes. Following her appointment as Group Chief People & Governance Officer, Aileen Taylor has also introduced a