NEW HEAD OF HSBC BANK ARMENIA INTENDS TO CONTINUE COOPERATION WITH COUNTRY’S ALL ORGANIZATIONS

ARKA
Jan 22, 2010

YEREVAN, January 22. /ARKA/. On Thursday, Astrid Clifford, who will
succeed Tim Slater, chief executive officer of HSBC, on February
1, expressed hope for continuation of cooperation with all the
organizations of Armenia.

At the reception held by HSBC Bank Armenia, she thanked the bank for
a warm welcome and said the first meetings in Armenia made a good
impression on her.

She said that 2009 was a hard year to Armenia and the entire world,
but the bank keeps developing successfully.

Tim Slater, welcoming his successor, said Astrid Clifford has 19-year
experience of working at HSBC banks in nine countries.

He hopes that the bank in Armenia will develop successfully under
her management.

Slater thanked the bank’s personnel for work and the Armenia’s central
bank of and government for support. He said he would leave the country
for Argentina, where 70,000 Armenian live.That is why he hopes he
will feel at home there.

He said he would bring with him not only pleasant memories from
Armenia, but also Armenian wife.

Vache Gabrielyan, deputy chairman of the Central bank of Armenia,
who spoke at the reception as well, congratulated Clifford on her
appointment and wished her a good luck in office.

Astrid Clifford has been with HSBC Group for 19 years as an
International Manager. During this time she has worked in nine
countries, Hong Kong, Taiwan, Vietnam, Oman, Dubai, India, USA, Jersey
and the UK, holding various executive posts in most areas of banking,
including Retail, Commercial, Operations, Audit, HR and Training.

Before coming to Armenia, Astrid Clifford was Regional Head of
Insurance for HSBC Bank Middle East Limited, based in Dubai. She holds
an undergraduate degree in Psychology and a Masters in Economics from
the London School of Economics.

Tim Slater, who has held a variety of posts during his 25 year career
with HSBC Group, will take up a new role in Buenos Aires as Chief
Risk Officer of HSBC Bank Argentina S.A.

HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. The Group serves customers worldwide from
around 8,500 offices in 86 countries and territories in Europe, the
Asia-Pacific region, the Americas, the Middle East and Africa. With
assets of US$2,422 billion at 30 June 2009, HSBC is one of the world’s
largest banking and financial services organisations. HSBC is marketed
worldwide as ‘the world’s local bank’.