Business As Usual At The Bank, HSBC Malta CEO Says

12th April 2018

Speaking during the bank’s Annual General Meeting (AGM), Mr Beane told shareholders that the bank's focus was the strategy that was approved by the Board of Directors in February to grow the business in Malta.

HSBC Malta CEO Andrew Beane stated clearly that further to the recent international media report which was also covered by the local media, the bank was operating on a business as usual basis.

Speaking during the bank’s Annual General Meeting (AGM), Mr Beane gave an overview of the results and performance of 2017 and told shareholders that the bank's focus was the strategy that was approved by the Board of Directors in February to grow the business in Malta.

He reiterated that in line with the bank’s latest communication to the market, the HSBC Bank Malta p.l.c.’s Board has no information that requires a company announcement to be made and that recent media coverage is speculation on which the bank’s policy is not to comment.

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

Since only three persons were nominated for election, John Bonello, Dr Gordon Cordina and Dr 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 Mr Beane, all the Directors are Non-Executive Directors.

Further to Company Announcement HSBC316 dated 21 February 2018, Alison Hewitt will be replaced on the Board by Ms Garrad. Ms 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.


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