Corporate governance

To find out more about the members of the Board of Directors, see the HSBC France 2018 Annual Report and Accounts (pages 21 to 28) (PDF 2MB). To find out more about the work of the Board of Directors, see the HSBC France 2018 Annual Report and Accounts (pages 33 and 34) (PDF 2MB).

Board committees

In order to prepare Board deliberations in certain areas, the Board may choose to set up specialised committees, permanent or not, determining their membership depending on the matters they will have to review. The committees report to the Board on their work and, where appropriate, make recommendations for the Board to decide on.

The Chairman of each Committee reports on the work of his Committee to the Board meeting immediately following the meeting of the Committee.

In application of article 13 of the Memorandum and Articles of Association and in accordance with the regulation in force, the Board of Directors of HSBC France has decided to set up four Board committees, acting under the responsibility of the Board: the Risk Committee, the Audit Committee, the Nomination Committee and the Remuneration Committee.

Risk Committee

Membership:

• Lindsay Gordon (Independent Director) – Appointed in 2013 as a member and in November 2015 as Chairman
• Paule Cellard (Independent Director) – Appointed in 2017
• Thierry Moulonguet (Independent Director) – Appointed in 2009 as a member and Chairman from 2010 to 2015
• Lucile Ribot (Independent Director) – Appointed in 2017

Duties:

The Risk Committee is accountable to the Board and has non-executive responsibility for oversight of and advice to the Board on matters relating to high level risk related matters and risk governance.
The Committee meets with the Statutory Auditors and the Head of Internal Audit in private at least once per year to ensure that there are no unresolved issues or concerns. In order to carry out these duties, the Committee may consult any expert as it deems appropriate.

To find out more about the duties and work of the Risk Committee in 2018, see the HSBC France 2018 Annual Report and Accounts (pages 35 to 37) (PDF 2MB).

Audit Committee

Membership:

• Thierry Moulonguet (Independent Director) – Appointed in 2009 as a member and in  2010 as Chairman
• Paule Cellard (Independent Director) – Appointed in 2017
• Lindsay Gordon (Independent Director) – Appointed in 2013
• Lucile Ribot (Independent Director) – Appointed in 2017

Duties:

The Audit Committee is accountable to the Board and has non-executive responsibility for oversight of and advice to the Board on matters relating to budget, financial reporting, control of financial information, capital and liquidity ratios in support of the Risk Committee, dividend policy, capital allocation policy, management of the Finance function, and internal audit.

The Committee meets with the Statutory Auditors and the Head of Internal Audit in private at least once per year to ensure that there are no unresolved issues or concerns. In order to carry out these duties, the Committee may consult any expert as it deems appropriate.

To find out more about the duties and work of the Audit Committee in 2018, see the HSBC France 2018 Annual Report and Accounts (pages 34 and 35) (PDF 2MB).

Nomination Committee

Membership:

• Philippe Houzé (Independent Director) – Appointed in 1999 as a member and in 2009 as Chairman
• Samir Assaf – Appointed in 2012
• Jacques Veyrat (Independent Director) – Appointed in 2010

Duties:

The Nomination Committee reports its activities to the Board and is responsible for leading the processes for Board and Board Committees appointments and for identifying and nominating for the approval of the Board, candidates for appointment to the Board and its committees.

In order to carry out these duties, the Committee may consult any expert as it deems appropriate.

To find out more about the duties and work of the Nomination Committee in 2018, see the HSBC France 2018 Annual Report and Accounts (pages 37 and 38) (PDF 2MB).

Remuneration Committee

Membership:

• Philippe Houzé (Independent Director) – Appointed in 1999 as a member and in 2009 as Chairman
• Samir Assaf – Appointed in 2012
• Ludovic Bénard (elected by employees) – Appointed in 2017
• Jacques Veyrat (Independent Director) – Appointed in 2010

Duties:

The Remuneration Committee’s main tasks are as follows:

• To consider any matter related to remuneration and to provide advice on remuneration policy and structure to the Board. In particular the Committee considers Executive Directors’ compensation and makes recommendations and proposals to the Board;
• To make recommendations on Directors’ remuneration, in particular on fees sharing;
• To review annually the policy for the compensation of employees, in particular risk takers and other employees subject to specific provisions in this area.

Regarding Executive Directors’ compensation, the Committee’s recommendations are made to the Board after HSBC Holdings plc Remuneration Committee’s approval or are then submitted to the latter.
In order to carry out these duties, the Committee may consult any expert as it deems appropriate.

To find out more about the duties and work of the Remuneration Committee in 2018, see the HSBC France 2018 Annual Report and Accounts (page 38) (PDF 2MB).

Corporate governance code

As HSBC France is a 99.9% owned subsidiary of the HSBC Group and as its shares are not listed on a regulated market, HSBC France refers to the Corporate Governance Code for HSBC Group companies.

Executive Committee