Ex-finance minister leaves HSBC board after only nine weeks

has announced that Jose Gil Diaz has stepped down from its board ‘for
personal reasons’.

Diaz’s appointment was one of a raft of board changes implemented by HSBC
in a bid to restore investor confidence after a rocky patch at the end of 2006.
The world’s fourth-largest bank by market capitalisation, suffered a share slump
at the end of 2006, making it one of the worst-performing European bank stocks
of the year, the FT

Diaz, was Mexican secretary of finance and public credit until 30 November
2006 before a new administration was voted in. Between 1997 and 2000 he was
chief executive officer of Avantel, a Mexican telephone and internet service
provider, after serving as vice-governor of the Central Bank of Mexico, where he
was director general of tax policy.

In a statement to the stock exchange, HSBC said: Jose Francisco Gil Diaz has,
for personal reasons, resigned as a director of HSBC Holdings with effect from 5
March 2007.’

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