4th Nov 2015 17:58
LONDON (Alliance News) - HSBC Holdings PLC said that long-serving board member Simon Robertson bought about GBP50,000 worth of shares in the banking group on Wednesday.
Robertson, who is in his last year as the deputy to Chairman Douglas Flint, has spent more than nine years on the banking group's board of directors. He bought 9,770 shares at 511.62 pence each, HSBC said.
An experienced director, Robertson is the former chairman of Rolls-Royce Holdings PLC, and has extensive experience in banking as a former managing director of Goldman Sachs International and chairman of Dresdner Kleinwort Benson.
The board member is due also to step down as chairman of HSBC's remuneration committee, chairman of the nomination committee and from his membership of the group's Financial System Vulnerabilities Committee.
Sam Laidlaw, an independent non-executive director at the bank and the former chief executive of energy company Centrica PLC, is to replace Robertson as chairman of the remuneration committee and the nomination committee.
Shares in HSBC closed up 2.6% at 518.02p on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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