HSBC 2015 Annual Report Download - page 262

Report of the Directors: Corporate Governance (continued)
Board of Directors
HSBC HOLDINGS PLC
260
Training and development
Training areas
Regulatory
updates
Corporate
Governance
Financial
industry
developments
Briefings on
Board committee
related topics
Executive Directors
Douglas Flint  
Stuart Gulliver  
Iain Mackay  
Marc Moses  
Non-executive Directors 
Phillip Ameen  
Kathleen Casey  
Safra Catz  
Laura Cha  
Lord Evans of Weardale 
Joachim Faber  
Rona Fairhead  
Sam Laidlaw  
Irene Lee  
John Lipsky  
Rachel Lomax  
Heidi Miller  
Sir Simon Robertson  
Jonathan Symonds  
Pauline van der Meer Mohr  
Board performance evaluation
The Board is committed to regular evaluation of its own
effectiveness and that of its committees. In 2014, the
review of the effectiveness of the Board and its committees
was undertaken by Bvalco Ltd1, an independent third-party
firm.
2014 Review of Board effectiveness
The findings of the 2014 review were presented to the
Board, an action plan developed and progress against these
actions reported to the Board during 2015. The themes
emerging from the 2014 review and the actions taken
included:
Theme Action taken
Harmonising interactions between Group and subsidiaries The governance arrangements for the regional risk committees and
the audit committees for principal subsidiaries and certain global
businesses have been enhanced to provide better transparency in
the reporting of significant issues to the GAC and GRC and to provide
better communication between the committees.
Increasing diversity on the Board of Directors, consider recruitment of a
director with an Asian/Chinese business background
Irene Lee was appointed to the Board in July 2015.
Continuing efforts to balance the agenda at Board meetings, focusing on
priority strategic issues and in particular technology
Additional time has continued to be provided for the debate of these
issues at meetings. The Group Chief Operating Officer delivered
updates on the Group’s global change programme priorities, and
the Chief Technology Officer also presented a new technology
strategy in 2015.
Allocating time in Board meetings to address the transition processes
relating to the Senior Managers’ Regime
Preparations for the Senior Managers’ Regime have become a
regular Board agenda item.
Senior Independent Director to build on relationships with regulators
and with all members of the Board
Meetings held with regulators, Board members and shareholders
during the period.
1 A legal firm which is engaged from time to time by the Company
to provide legal services holds a 20% shareholding in Bvalco Ltd.
Bvalco Ltd has confirmed that it does not have any other connection
with the Company.