HSBC Holdings plc (LON:HSBA) today announced the appointment of Dr José Antonio Meade Kuribreña (49) as an independent non-executive Director. The appointment will take effect from 1 March 2019. Dr Meade will also be appointed as a member of the Nomination & Corporate Governance Committee.
Dr Meade is currently a Commissioner of the Global Commission on Adaptation and performs consulting, project finance and academic activities.
Dr Meade has extensive experience in public administration, banking and financial policy. Between 2011 and 2017, he held Cabinet-level positions in the Federal government of Mexico, including acting as Secretary of Finance and Public Credit, Secretary of Social Development, Secretary of Foreign Affairs and Secretary of Energy. Prior to his appointment to the Cabinet, he served as Undersecretary and as Chief of Staff in the Ministry of Finance and Public Credit.
Following his time as Director General of Banking and Savings at the Ministry of Finance and Public Credit, Dr Meade served as Chief Executive Officer of the National Bank for Rural Credit, where he led the financial restructuring and its transition to a new institution, Financiera Rural. He studied economics and law at the Instituto Tecnológico Autónomo de México and Universidad Nacional Autónoma de México, before receiving a PhD in Economics from Yale University.
Commenting on the appointment, HSBC’s Group Chairman, Mark Tucker, said: “I am absolutely delighted to welcome José Antonio to the Board. He brings with him a wealth of experience gained across a number of key policy areas and his background and knowledge of Latin America will be of great significance to HSBC given the importance we attach to the region. It is particularly worth noting the relevance Mexico holds for HSBC as one of our scale markets.”
Dr Meade’s appointment will be for an initial three-year term which, subject to election by shareholders at the Annual General Meeting (AGM) on 12 April 2019, will expire at the conclusion of the 2022 AGM.
The Directors have determined that Dr Meade is independent. In making that determination, the Directors have concluded that there are no other relationships or circumstances which are likely to affect his judgement and that any relationships or circumstances which could appear to do so were not considered to be material.
The Company further announces that Lord Evans of Weardale, independent non-executive Director, who joined the Board in August 2013, has given notice of his intention to retire from the Board at the conclusion of the 2019 AGM and will not therefore be seeking re-election by shareholders. As a consequence, he will step down as Chair of the Financial System Vulnerabilities Committee (FSVC) and will be succeeded by Jack Tai, Chair of the Group Risk Committee (GRC), who will continue the programmed transition of the FSVC’s responsibilities to the GRC.
The Board would like to thank Lord Evans for his important and valuable contribution, in particular in his role leading the FSVC over the past six years.
There are no matters relating to the retirement of Lord Evans that need to be brought to the attention of the Company’s shareholders.
