Management Changes in France

HSBC Holdings PLC
29 May 2007

                        MANAGEMENT CHANGES AT HSBC FRANCE

Charles-Henri Filippi has decided to retire from his executive positions as CEO
of HSBC France and of Group Managing Director of HSBC Holdings from 1 September
2007.

Charles-Henri Filippi will continue as non-executive Chairman of HSBC France.

Peter Boyles, presently Group Head of Human Resources, will succeed
Charles-Henri Filippi as CEO of HSBC France. Peter joined HSBC in 1975 and has
held senior roles in the Far East, the Middle East and Europe. He has served as
CEO of HSBC in Qatar and spent three years as Deputy CEO of HSBC in Malaysia. A
French speaker, he served as General Manager for Corporate and Transactional
Banking for HSBC in France from October 2000 until November 2005, helping manage
the integration of CCF into the HSBC Group.

Christophe de Backer, Directeur General Adjoint (General Manager) of HSBC
France, will be appointed as Directeur General Delegue (Deputy CEO). Christophe
has 17 years experience at HSBC in France, including seven years in investment
banking before working in asset management, insurance and wealth management and
most recently private banking.

Charles-Henri Filippi said: "After twenty exciting and happy years with CCF and
latterly with HSBC, including the successful launch of the HSBC brand in France,
and the successful integration of the French teams within HSBC, this is a
natural time for me to stand back and pursue other personal interests. However,
at the request of Group Chairman, Stephen Green, I will remain non-executive
Chairman to ensure a smooth handover.

"Peter Boyles is well known and respected by our French teams and his
appointment as CEO of HSBC France, as well as Christophe's appointment, will be
welcomed by my colleagues."
                                                                            
HSBC has 1.1 million personal customers and 165,000 business customers in
France, the world's fifth wealthiest economy, and had a 37 per cent increase in
the number  of new customers acquired in 2006 from 2005. It has US$107 billion
of assets  under management as at 31 December 2006, growing at an annual rate of
nine per  cent in 2006 and the fifth largest Corporate Investment bank in the
French  market, with revenue growing 17 per cent in 2006 from 2005.

Stephen Green, Group Chairman, said: "HSBC has become a household name in
France. Charles-Henri has made an outstanding contribution to this success and I
am delighted that he will continue to be closely associated with our progress. I
wish Peter, Christophe, and the team in France every success in continuing to
develop our business."


Brief biographies for Charles-Henri Filippi and Peter Boyles follow:

                                  Peter Boyles
         Group General Manager and Chief Executive Officer (Designate)
                                  HSBC France

Peter Boyles joined The Hongkong & Shanghai Banking Corporation Ltd in 1975 as
an International Manager Trainee. Between 1976 and 1987 Peter held various posts
in the Middle East, Hong Kong and the Solomon Islands encompassing branch
management, Trade Finance, operations and Corporate Banking.

From 1987 to 1993 Peter worked in Hongs Division of Corporate Banking in Hong
Kong, before taking up the role of Senior Manager, Abu Dhabi. This was followed
by a third tour in Qatar as Chief Executive Officer and three years in Malaysia
as Deputy Chief Executive Officer.

From 2000 he was appointed General Manager, Corporate & Transactional Banking
for HSBC in France, where he helped manage the integration of CCF into the
Group.

Peter was appointed a Group General Manager on 1 January 2006 and assumed
responsibility for Group Human Resources. In May 2007 he was appointed Chief
Executive Officer of HSBC France, and will serve in official capacity beginning
in September 2007.

Peter is married with three sons and a daughter and lives in France.



                             Charles-Henri Filippi
               Chairman and Chief Executive Officer, HSBC France
                   Group Managing Director, HSBC Holdings plc

Charles-Henri Filippi was born in France in 1952 and was educated at the
Institut d'Etudes Politiques (in Paris) and at the Ecole Nationale
d'Administration.

Following a number of senior appointments in the French Civil Service
(1979-1987), he joined Banque Stern as a director.

He then joined CCF in 1987 as Special Advisor to the Chief Executive Officer. He
was appointed Executive Vice President, Corporate Finance and Banking in 1989,
then Senior Executive Vice President, and Managing Director in 1993. He became
Group Executive Vice President, Head of Corporate Finance and Banking in 1995.
In 1998, he was appointed Executive President and joined the Board of CCF, also
becoming Chairman and Chief Executive Officer of HSBC CCF Investment Bank
(France).

After HSBC's acquisition of CCF in 2000, Mr Filippi was appointed Executive
Director of HSBC Investment Banking and Markets and joined the Board of HSBC
Bank plc. He was appointed Group General Manager & Global Head of Corporate and
Institutional Banking for HSBC Holdings in November 2001, and moved to London.
He also became a member of the HSBC Group's Executive Committee.
In May 2002, Corporate and Institutional Banking was integrated within the
Corporate, Investment Banking and Markets division and, in addition to his
current role, Mr Filippi took on the wider relationship banking responsibilities
for the division.

Chairman and Chief Executive Officer of HSBC France since 1 March 2004, he is a
member of the Group Management Board for HSBC Holdings plc and responsible for
co-ordinating HSBC Group's strategy in the eurozone.

He is married and has four children.


Note to editors:
HSBC Holdings plc
HSBC Holdings plc serves over 125 million customers worldwide through around
10,000 offices in 82 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa. With assets of some US$1,861
billion at 31 December 2006, HSBC is one of the world's largest banking and
financial services organisations. HSBC is marketed worldwide as 'the world's
local bank'.

                                        




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