Banking giant HSBC Holdings plc today announced that its chairman, Sir John Bond, will retire next spring.

Bond, 64, group chairman of HSBC Holdings since 1998, will retire at the annual general meeting on May 26, 2006, after 45 years of service.

Bond will be succeeded by Stephen Green, 57, who joined HSBC in 1982, and is currently group chief executive. Green will, in turn, be succeeded as group CEO by Michael Geoghegan, 52, who joined HSBC in 1973 and is currently CEO of HSBC Bank plc, the group’s principal subsidiary in the UK.

HSBC said that these appointments have the unanimous support of the directors and have been made after consultation with representatives of major institutional investors and explanation of the succession planning and independent external search process.

Michael Geoghegan will be succeeded as CEO of HSBC Bank plc, subject to necessary approvals, by Dyfrig John, 55, who joined HSBC in 1971 and is currently the bank’s deputy CEO.

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