DISCLOSURES OF INTEREST

Northern Irish personal banking

Christopher Clarke, the Chairman of the inquiry, is a former director of HSBC Investment Banking and retired as an employee of HSBC Investment Bank in 1998. He is a member of the defined benefit section of HSBC Bank (UK) Pension Scheme under which pensions are based on final pensionable salaries. Annual adjustments are made in line with inflation in accordance with the Trust Deed and Rules of the Scheme and are not tied to the income or profits of any part of HSBC.

Mr Clarke believes that he can discharge the obligations of a member of the Group investigating Northern Irish personal banking independently and impartially. The Competition Commission believes that Mr Clarke’s previous employment with HSBC and his current pension will not compromise the ability of the group to discharge its functions in an independent and impartial manner.