HSBC Creates Technology and Services Position

Ken Harvey has been appointed to the newly created position of chief technology and services officer at the HSBC Group, effective October 1, 2008. Harvey will report to Michael Geoghegan, group chief executive, as the new position combines the roles of chief information officer and group chief operating officer.

David Hodgkinson, currently group chief operating officer, HSBC Holdings, will retire from the Group on December 31, 2008 after 39 years of international service. Harvey, currently chief information officer, joined HSBC in 1989 and has over 25 years of technology and operations experience. He will become a group managing director and will join the Group Management Board, effective October 1, 2008.

"By combining our technology and worldwide operations more closely we can re-engineer customers' experience of HSBC and at the same time drive down the unit cost of production. Ken's appointment to the Group Management Board is a reflection of the importance we attach to realizing these benefits for HSBC," said Geoghegan. "David's international banking experience and wise counsel have been invaluable. He has been a good friend and colleague to many of us over his illustrious career with HSBC, and we wish David and his family well," he added.