HSBC Bank operating in ‘business as usual’ mode

HSBC Bank Malta yesterday said it was operating in business-asusual mode, a week after Bloomberg reported that it was mulling an exit from small states, including Malta.

Speaking at the bank’s annual general meeting, chief executive officer Andrew Beane also said that in line with the bank’s latest communication to the market, HSBC Bank Malta’s board had no information that required a company announcement to be made, and that recent media coverage was speculation on which the bank’s policy was not to comment.

During yesterday’s AGM, all the Ordinary Resolutions on the agenda were approved in accordance with the bank’s Memorandum and Articles of Association, the bank said in a statement.

The CEO gave an overview of the results and performance of 2017 and explained to the share- holders the strategy that was approved by the Board of Directors in February to grow the business in Malta moving forward which is the bank’s focus.

Since only three people were nominated for election, John Bonello, Gordon Cordina and Mary Anne sive Sue Vella were automatically elected as directors by the minority shareholders in terms of Article 77(4) of the bank’s Articles of Association.

With the exception of Beane, all the directors are non-executive directors.

In terms of Article 7(1) of the bank’s Memorandum, Saviour sive Sonny Portelli (chairman), Andrew Beane, Christopher Davies, Andrew Muscat, Tracy Garrad and Yiannos Michaelides were appointed as directors by the majority shareholder.

Further to a company announcement in February 2018, Alison He- witt will be replaced on the board by Tracy Garrad. Garrad resides at Cote de la Rigondaine, La Rigondaine, Grouville, Jersey, Channel Islands.

Garrad has over 17 years’ experience in financial services having started her career at the European Bank for Reconstruction and Development in January 2000. Subsequently, she occupied various roles at Santander UK from February 2002 till June 2012. She joined HSBC Group in June 2012 and has occupied the role of Regional Head of Contact Centre Services, RBWM UK Europe and Middle East Region and the role of CEO of First Direct, HSBC UK. Since February 2017 she has occupied the role of CEO of HSBC Bank plc Channel Islands and Isle of Man.

Garrad studied at the London Business School and the University of Navarra IESE.