News Room

HSBC APPOINTS NEW CHIEF FINANCIAL OFFICER

30 January 2008

HSBC Bank has appointed John McKenna as chief financial officer (CFO) in Australia. Before joining HSBC Bank Australia, McKenna was CFO of for HSBC's banking operations in the US and prior to that, for HSBC in Mexico.

As CFO for HSBC in Australia, McKenna will be responsible for all aspects of HSBC's Australian financial management, including its local financial control, taxation, regulatory, capital and management reporting activities.

McKenna's team consists of over 110 finance, tax and treasury staff, which in turn forms part of 1,400 HSBC employees in Australia and some 314,000 HSBC employees globally. The HSBC Group engages some 4,400 employees within its global finance structure.

Stuart Davis, chief executive officer of HSBC Bank in Australia said, "As one of the world's largest banks, our Australian operations are linked by customers, shareholders and employees to major HSBC sites in London, Hong Kong and 80 other markets.

"With that global connectivity comes a range of complex international reporting structures to navigate different regulatory and economic regimes across the globe.

"As he joins our Australian operations from HSBC USA and before that, HSBC in Mexico, the addition of John McKenna to our local management team is a prime example how we are leveraging our global experience and talent to achieve optimal performance on both a local and a global level."

McKenna's appointment comes as his predecessor, Michael Bencsik moves into his new role within the HSBC Group's recently established Group International Management Office in the UK.

McKenna first joined the HSBC Group in 1986 as group controller for Latin America within Marine Midland Bank. In 1988 he was named division controller of Corporate and Merchant Banking and in 1990 moved to Buffalo, NY as vice president, Corporate and Strategic Planning.

In 1997, McKenna moved with HSBC to Mexico as deputy CFO of Grupo Financiero Serfin and acting Board representative in relation to the Group's 19.9% investment. He returned to the USA in 200, becoming head of Management Information for HSBC USA Inc.

In 2002 he returned to Mexico once more to manage the acquisition of Grupo Financiero Bital, now HSBC Mexico (HBMX), becoming CFO upon completion. McKenna was also a board member of HSBC Panama, and chairman of its Audit Committee. In 2005 he was appointed CFO of HSBC USA.

McKenna started his career with positions at Manufacturers Hanover Trust and Bank of Montreal before joining the Marine Midland Bank and the HSBC Group.