HSBC USA Announces Four New Appointments to Its Boards of Directors

Deborah P. Bailey, Melvin L. Flowers, George W. Madison and Alice D. Schroeder are the newest Board Members of HSBC North America Holdings Inc. (HNAH) and HSBC Bank USA, N.A. (HBUS)

HSBC Bank USA today announced the recent appointments of Deborah P. Bailey, Melvin L. Flowers, George W. Madison and Alice D. Schroeder to the HSBC North America Holdings Inc. (HNAH) and HSBC Bank USA, N.A. (HBUS) Boards of Directors. Flowers and Madison’s appointments are effective as of Jan. 11 while Bailey and Schroeder were appointed in late October 2021.

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Deborah P. Bailey (Photo: Business Wire)

“When we set out to appoint new members to our Boards, we were focused on finding experienced individuals who would bring diverse views and perspectives,” said Jamie Forese, Non-Executive Chairman of the Board, HSBC North America Holdings Inc., and Director of HSBC Holdings plc. “We are delighted to welcome Deborah, Melvin, George and Alice to our Boards. They each have wide-ranging expertise from a variety of industries and we’re confident they will make valuable contributions to our Boards as we continue to transform and grow our US business.”

Bailey is a former Managing Director with KPMG and Deloitte, where she led advisory practices specializing in governance, compliance and risk management for financial institutions. Prior to her consulting career, Bailey spent many years in government service at US financial regulators. She began her career with the Office of the Comptroller of the Currency, where she held various roles, including the New York Field Office Director. Bailey later joined the Board of Governors of the Federal Reserve, where she rose to Deputy Director of Banking Supervision and Regulation and helped steer the financial industry through major regulatory and supervisory changes stemming from the financial crisis.

Flowers is a former Corporate Vice President of the Internal Audit and Risk Management function at Microsoft Corporation. During his time at the company, Flowers transformed Microsoft’s internal audit and enterprise risk management functions into a strategic risk-based organization that covered financial reporting, risk management, cyber security, privacy and compliance with regulations and company commitments. Prior to joining Microsoft, Flowers served as Chief Financial Officer at Novatel and at two high-growth telecommunications equipment manufacturers, where he facilitated organic and inorganic strategies to scale the businesses through a period of rapid technological advancement.

Madison is a former Partner at Sidley Austin LLP, where he advised the firm’s multinational clients on corporate governance issues and regulatory compliance matters. Prior to joining Sidley Austin, Madison served as General Counsel of the Department of the Treasury under President Obama and as a senior advisor to Secretary of the Treasury Timothy Geithner. In this capacity, Madison played an instrumental role in the formulation of the Dodd-Frank legislation and related regulation, and advised on the creation of the Financial Stability Oversight Council and the Consumer Financial Protection Bureau.

Schroeder is an experienced non-executive director, whose board roles include UK and US-listed businesses as well as privately held companies and regulated subsidiaries. She began her career as a CPA with Ernst & Young and spent the majority of her executive career in the financial services sector. She worked as a Wall Street analyst with a focus on insurance and investment management before joining Morgan Stanley where she was a Managing Director leading the global insurance research team. Schroeder is the author of the #1 New York Times best-selling book, “The Snowball: Warren Buffett and the Business of Life.” She is the only author with whom Buffett has ever cooperated on a biography.

About HSBC

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through wealth and personal banking, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, the Middle East and North Africa. With assets of $2,969 billion at 30 September 2021, HSBC is one of the world’s largest banking and financial services organizations.

For more information, visit https://www.us.hsbc.com/.

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