HSBC adds four board members

Sandy Flockhart and Stuart Gulliver are promoted to executive director while Infosys's Narayana Murthy and Oracle's Safra Catz join as independents.
HSBC added four new members to its board on March 3, with the new directors serving to reinforce how Asia is critical to the bank's strategy.

Sandy Flockhart and Stuart Gulliver were appointed executive directors to HSBC's board while InfosysÆs Narayana Murthy and Oracle's Safra Catz will join as independent, non-executive directors. All the appointments are effective May 1.

Flockhart currently oversees HSBCÆs Asia operations in 19 countries and is also global head of commercial banking. Flockhart joined HSBC in 1974 and moved to Asia to take on his current responsibility in 2007 from Mexico where he was president and group managing director for Latin America and the Caribbean.

Gulliver is chief executive of global banking and markets, the wholesale banking division of HSBC, with 28 years experience at HSBC. Gulliver moved from HK to London in early 2003 to take on the newly created role of head of global markets at HSBC. Prior to that he was head of corporate investment banking and markets in Asia. Gulliver is an old Asia hand as he set up the Asian markets business for the bank in 1994.

Murthy was one of the founders of leading Indian information technology firm, Infosys Technologies, and is currently chairman and chief mentor of the company. He was earlier CEO of Infosys for 21 years. Infosys was the first Indian company to list on Nasdaq and Murthy is widely credited with putting Indian software companies on the radar screen of global investors.

Catz is president and chief financial officer of Oracle, the supplier of software for information management. She has been on the board of Oracle since 2001 and was earlier a managing director at investment bank Donaldson, Lufkin & Jenrette (DLJ) until 1999.

ôHSBC has one of the most international boards in the world and these appointments add to the breadth and depth of oversight enjoyed by our group,ö said Stephen Green, HSBC group chairman in a written statement. And as Green has said in the past, Asia is the heartland of HSBCÆs business, so it's not surprising that in this case international has a distinctly Asian slant.
¬ Haymarket Media Limited. All rights reserved.
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