UK-based global banking giant HSBC Holdings Plc
said N.R. Narayana Murthy, co-founder of IT giant Infosys and the only
Indian on its board, would retire as its director at the end of 2012.
Announcing the changes in its board and board committees, HSBC Holdings
Plc said in a regulatory filing here that Renato Fassbind, former Chief
Financial Officer of Credit Suisse Group, has been appointed a Director
with effect from January 1, 2013. Besides, Fassbind would also become a
member of the Group Audit Committee and the Group Remuneration Committee
with effect from March 1, 2013. He will be an independent non-executive
Director. Murthy will retire as a Director of HSBC Holdings plc on
December 31 and will be succeeded as Chairman of the Corporate
Sustainability Committee by Laura Cha.
While Cha is
already a director, Murthy had joined the board in 2008. James
Hughes-Hallett has also been appointed a member of the Corporate
Sustainability Committee from January 1, 2013.
Fassbind was the Chief Financial Officer and a member of the executive
board of Credit Suisse Group from June 2004 until September 2010. He is
Vice-Chairman of Supervisory Board of Swiss Reinsurance Company, and a
member of the Supervisory Board of the Swiss Federal Audit Oversight
Authority.
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