00005 News & Events

HSBC has agreed to pay EUR 300M to settle a criminal and civil case in France over its alleged role in a dividend-tax scandal, Gaspard Sebag and Claudia Cohen of Bloomberg reports. The accord will end Parquet National Financier's investigation against HSBC without the bank admitting guilt. The payment includes a fine worth EUR 268M as well as a tax bill of approximately EUR 30M.

HSBC's Board has appointed Brendan Nelson as Group Chair. Nelson, who has been serving as interim Group Chair since October 1, 2025, joined the Board in September 2023. This decision follows a robust process that considered both internal and external candidates, HSBC said in a statement. Ann Godbehere, Senior Independent Director, who led the process, commented "On behalf of the Board, I am delighted with Brendan's appointment as our Group Chair. Since assuming the role of interim Group Chair, Brendan has demonstrated his excellent leadership capabilities backed by his strong banking and governance credentials." Nelson will remain as Chairman of the Group Audit Committee until the publication of the 2025 results in February 2026. HSBC will provide an update on the succession for this role in due course, the company said.