HSBC 2012 Annual Report Download - page 314

HSBC HOLDINGS PLC
Report of the Directors: Corporate Governance (continued)
Board of Directors > Directors
312
Hong Kong Limited, each non-executive Director
determined by the Board to be independent has
provided an annual confirmation of his or her
independence to HSBC Holdings.
Information and support
The Board regularly reviews reports on progress
against financial objectives, business developments
and investor and external relations. The chairmen of
Board committees and the Group Chief Executive
report to each meeting of the Board on the activities
of the committees since the previous Board meeting.
The Board receives regular reports and presentations
on strategy and developments in the global
businesses and principal geographical areas. Regular
reports are also provided to the Board and Board
committees on the Group’s risk appetite profile,
top and emerging risks, risk management, credit
exposures and the Group’s loan portfolio, asset
and liability management, liquidity, litigation,
compliance and reputational issues. The agenda and
supporting papers are distributed in advance of all
Board and Board committee meetings to allow
time for appropriate review and to facilitate full
discussion at the meetings. All Directors have full
and timely access to all relevant information and
may take independent professional advice if
necessary at the Company’s expense.
The Directors have free and open contact with
management at all levels. When attending Board
offsites and when travelling for other reasons,
non-executive Directors are encouraged to take
opportunities to see business operations at first hand
and to meet management.
Non-executive Directors have an open invitation
to attend meetings of the GMB to further enhance
their understanding and awareness of our businesses
and the senior leadership team.
Induction
Full, formal and tailored induction programmes,
with particular emphasis on risk management and
internal controls systems, are arranged for newly
appointed Directors. The programmes consist of a
series of meetings with other Directors and senior
executives to enable new Directors to familiarise
themselves with our strategy, risk appetite and risk
management, operations and internal controls.
Directors also receive comprehensive guidance on
directors’ duties and liabilities. As part of the
induction process the Group Company Secretary will
coordinate a development programme based on an
individual Director’s needs. Induction programmes
are also arranged for newly appointed members of
committees.
Training and Development
Focused in-house training sessions are arranged in
conjunction with scheduled Board meetings. Unless
otherwise indicated, all Directors1 attended Board
Meetings in 2012 at which briefings on the following
topics were given:
• Capital market perspectives on HSBC2,3
• CMB strategy2 and business update
• GB&M strategy2 and business update
• RBWM strategy2 and business update
• GPB strategy2 and business update3
• Macroeconomic outlook2
• Europe strategy2
• US strategy2
• China strategy2
• Outlook for Greater China2
• Marks and Spencer Bank
• Latin America
• Global geopolitics
• IT infrastructure
Except:
1 R Fassbind and J B Comey who were not Directors at the
time of the briefings.
2 J Faber and J P Lipsky who were not Directors at the time
of the briefing.
3 R A Fairhead who was unable to attend the briefing.
Executive Directors
In the performance of their roles as Group Chairman,
Group Chief Executive and Group Finance Director,
respectively, D J Flint, S T Gulliver and I J Mackay
develop and refresh their skills and knowledge of the
Group’s businesses and operations through day-to-
day interactions and briefings with senior
management of the Group’s businesses and
functions; and presenting on the Group’s businesses
to investors and analysts. They remain abreast of
developments affecting the financial services sector,
and banking in particular, by representing HSBC’s
interests at conferences, advisory groups and other
events and meetings with regulators and other
authorities. During 2012, this included the activities
set out below:
D J Flint
Chairman of the International Institute of Finance,
including leading member’s meetings and giving
keynote speeches. Participated in panel discussions
and gave key note speeches on economic growth and
financial regulation at a number of leading events
including the International Monetary Conference, the
Hong Kong Trade Development Council’s Think
Asia Event, City Week 2012, a Chatham House