HSBC 2009 Annual Report Download - page 347

345
Directors’ 2009 remuneration
The remuneration of the Group Chairman and executive Directors of HSBC Holdings for 2009 was as follows:
V H C Cheng D J Flint A A Flockhart M F Geoghegan S K Green S T Gulliver
2009 20081 2009 2008 2009 200812009 2008 2009 2008 2009 20081
£000
(Audited)
Salary ......................... 769 534 700 700 662 229 1,070 1,070 1,250 1,250 800 533
Allowances2 ............... 191 67 394 394 – – 548 544 8 8 8 5
Benefits in kind2,3 ...... 663 545 8 13 437 355 57 53 4 7 18 9
(Unaudited)
Bonus (deferred)4 ....... 1,240 1,639 2,100 – 1,908 1,655 4,000 – – – 9,000 –
(Unaudited)
Total remuneration5 ... 2,863 2,785 3,202 1,107 3,007 2,239 5,675 1,667 1,262 1,265 9,826 547
(Audited)
Total emoluments6 ..... 1,623 1,146 1,102 1,107 1,099 584 1,675 1,667 1,262 1,265 826 547
US$000
(Unaudited)
Total remuneration5 ... 4,466 5,108 4,995 2,030 4,691 4,106 8,852 3,057 1,969 2,320 15,327 1,003
(Audited)
Total emoluments6 ..... 2,532 2,102 1,719 2,030 1,714 1,071 2,613 3,057 1,969 2,320 1,288 1,003
1 The comparative emoluments figures in respect of 2008 are for the period from the date of appointment of the Director (V H C Cheng,
1 February 2008; and A A Flockhart and S T Gulliver, 1 May 2008).
2 Allowances include an executive allowance paid to fund personal pension arrangements and a company car allowance. Following the
categorisation of the company car benefit in 2009 as an allowance and not a benefit in kind, the comparative figures for 2008 for
D J Flint, M F Geoghegan, S K Green and S T Gulliver have been adjusted accordingly.
3 Benefits in kind include provision of medical insurance, other insurance cover, accountancy advice and travel assistance. V H C Cheng
and A A Flockhart receive housing and other benefits in kind that are normal within the location in which they are employed.
4 These deferred bonuses represent 100 per cent of the annual bonus in respect of 2009, all of which will be deferred into awards of HSBC
Holdings Restricted Shares. See page 338 for further details of the deferral and vesting arrangements.
5 Total remuneration, pursuant to the UK Listing Rules, includes deferred bonuses.
6 Total emoluments, pursuant to the UK Companies Act 2006, exclude the annual bonus that has been deferred and is not receivable for at
least a further 12 months.
The total of fees paid to each of the non-executive Directors of HSBC Holdings for 2009, being emoluments for
the purposes of the Companies Act 2006, is as follows:
2009 2008
(Audited) £000 £000
S A Catz ................................................................................................................................................ 65 43
M K T Cheung1 ..................................................................................................................................... 89 –
J D Coombe .......................................................................................................................................... 105 105
J L Durán .............................................................................................................................................. 65 65
R A Fairhead ......................................................................................................................................... 135 127
W K L Fung2 ......................................................................................................................................... 132 122
J W J Hughes-Hallett ............................................................................................................................ 105 105
W S H Laidlaw ..................................................................................................................................... 85 77
J R Lomax3 ........................................................................................................................................... 82 5
Sir Mark Moody-Stuart ........................................................................................................................ 125 125
G Morgan .............................................................................................................................................. 85 85
N R N Murthy ....................................................................................................................................... 85 45
S M Robertson ...................................................................................................................................... 115 115
J L Thornton4 ........................................................................................................................................ 1,040 89
Sir Brian Williamson ............................................................................................................................ 95 95
Total ...................................................................................................................................................... 2,408 1,203
Total (US$000) ..................................................................................................................................... 3,756 2,206
1 Appointed a Director of HSBC Holdings on 1 February 2009. Includes fees as a non-executive Director and member of the Audit
Committee of Hang Seng Bank Limited.
2 Includes fees as non-executive Deputy Chairman of The Hongkong and Shanghai Banking Corporation Limited.
3 Appointed a Director of HSBC Holdings on 1 December 2008. The comparative figure in respect of 2008 is for the period from the date
of appointment.
4 Appointed a Director of HSBC Holdings on 1 December 2008. The comparative figure in respect of 2008 is for the period from the date
of appointment as a Director. Includes fees as non-executive Chairman of HSBC North America Holdings Inc.