28th Feb 2005 08:08
HSBC Holdings PLC28 February 2005 SENIOR APPOINTMENTS IN HSBC NORTH AMERICA William F Aldinger, Chairman and Chief Executive Officer of HSBC North AmericaHoldings Inc. and of HSBC Finance Corporation (formerly Household International,Inc.) and Chairman of HSBC Bank USA, N.A., is to retire on 29 April 2005. Hewill also step down from the Board of HSBC Holdings plc and from the Boards ofother HSBC Group companies on the same date. HSBC Finance Corporation was acquired by the HSBC Group in March 2003.Mr Aldinger, who had served as its Chairman and Chief Executive Officer since1994, agreed to stay on for a period of three years to oversee the integrationof HSBC Finance Corporation into the enlarged HSBC Group. He was appointedChairman and Chief Executive of HSBC North America, Inc., and of HSBC NorthAmerica Holdings Inc., which serves as the holding company for all HSBCbusinesses in the region. The integration programme has proceeded successfullyand faster than expected and it has been agreed between Mr Aldinger and HSBCthat his task has been completed ahead of expectations. Upon Mr Aldinger's retirement it is intended that the following appointmentswill be made: Carl E Reichardt will become non-executive Chairman of HSBC North AmericaHoldings Inc. A former Chairman and Chief Executive of Wells Fargo & Company, heserved as a non-executive Director of HSBC Holdings plc from 1996 to 2002. He isalso a Director of Ford Motor Company and ConAgra Foods, Inc. Bobby Mehta, currently a Vice Chairman of HSBC Finance Corporation, will becomeChief Executive of HSBC North America Holdings Inc., and Chairman and ChiefExecutive Officer of HSBC Finance Corporation. He will also be appointed a GroupManaging Director of HSBC Holdings plc. Sandy Derickson will continue as Vice Chairman of HSBC Finance Corporation withexpanded responsibilities. She will be appointed a Group General Manager. Stephen Green, Group Chief Executive of HSBC Holdings plc, will become Chairmanof HSBC Bank USA, N.A. Martin Glynn, will continue as Chief Executive Officer of HSBC Bank USA, N.A. Sir John Bond, Group Chairman of HSBC Holdings plc, said: "The acquisition ofHousehold International in 2003 was a major development for HSBC. We said at thetime how important it was to have someone of Bill Aldinger's experience overseethe initial phase of the company's integration into the HSBC Group and to ensurethat our shareholders achieved the benefits of the transaction. "It is a tribute to Bill's energy and leadership that he has completed this taskfaster than planned and that he has established a talented management team totake our North American business to the next stage of its development. We thankhim warmly for his contribution. He will leave with our best wishes for thefuture." Notes to editors: The HSBC GroupHSBC Holdings plc, the holding company for the HSBC Group, is headquartered inthe UK. The HSBC Group serves over 110 million customers worldwide from over9,800 offices in 77 countries and territories in Europe, the Asia-Pacificregion, the Americas, the Middle East and Africa. With assets of US$1,277billion at 31 December 2004, the HSBC Group is one of the world's largestbanking and financial services organisations. HSBC is marketed worldwide as 'theworld's local bank'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HSBC Holdings