Change in HSBC Board composition

Further to Company Announcement HSBC336 published on 8 May, HSBC Bank Malta plc has announced that regulatory approval for the appointment of John Bonello as chairman of the bank has now been obtained from the European Central Bank and the Malta Financial Services Authority.

The resignation of Sonny Portelli from chairman and director of the bank and the appointment of Bonello as chairman are with effect from 2 August.

Bonello is a former director of Tigne Mall plc and of Island Hotels Group Holdings plc.

The bank has also announced the appointment of Ingrid Azzopardi as non-executive director of the bank and as chairperson of the bank’s Audit Committee and member of the bank’s Risk Committee.

Azzopardi is a Certified Public Accountant and Auditor and currently is Group Head of Internal Audit of GO plc. She is a former director of the HSBC Life Assurance (Malta) Limited and former chairperson of the Audit and Risk Committee of the said company.

The Board, which is approved by the European Central Bank and the Malta Financial Services Authority, is now composed of: John Bonello – chairman, Andrew Beane – executive director, Michel Cordina – executive director, Christopher Davies – non-executive director, Professor Andrew Muscat – non-executive director, Dr Gordon Cordina – non-executive director, Dr Sue Vella – non-executive director, Yiannos Michaelides – non-executive director and Ingrid Azzopardi – non-executive director.