HSBC Bank Malta board of directors announced

HSBC Bank Malta p.l.c. (the Bank) held its Annual General Meeting on April 15 where all the ordinary resolutions on the agenda were approved in accordance with the Bank’s Memorandum and Articles of Association.

Subject to regulatory approval, the following persons were reappointed / appointed to sit on the Bank’s Board of Directors: Saviour sive Sonny Portelli, as chairman, Andrew Beane, Christopher Davies, Tanuj Kapilashrami, Philip Farrugia Randon, Andrew Muscat, John Bonello, Juanito Camilleri and Maryanne sive Sue Vella

With the exception of Andrew Beane, all the Directors are Non-Executive Directors.

Vella who is a new member of the Board, is replacing Caroline Zammit Testferrata Moroni Viani. Vella is presently a resident academic at the Department of Social Policy and Social Work at the University of Malta. Vella is a former CEO of the Malta Enterprise Corporation and former CEO of the Employment and Training Corporation. Vella also served as Malta’s delegate to the European Treaty-based Employment Committee (EMCO) and was elected Vice-President of EMCO in 2008.

During the Meeting, the Bank's Chief Executive Officer, Andrew Beane, stated that the comment published in a local English-language newspaper on 11 April 2016 that HSBC Annual Report omits Directors' package details, was inaccurate. The Bank's 2015 Financial Statements contain all the information that the law and the International Financial Reporting Standards as adopted by the EU require on all matters, including emoluments paid to Directors.