HSBC Holdings plc has provided an update on succession for a key subsidiary board position. Dame Clara Furse will step down from her role as non-executive Chair of HSBC UK Bank plc in the first half of 2026, following nine years of service. Dame Carolyn Fairbairn, an independent non-executive Director of HSBC Holdings plc, will assume that role by the end of the first half of 2026, subject to regulatory approval.

Dame Carolyn serves as Chair of the HSBC Group Remuneration Committee and will retain both her committee role and her directorship at HSBC Holdings plc. Her extensive experience in the UK business environment is cited as beneficial to HSBC UK Bank’s future strategy and operations.

Brendan Nelson, Group Chairman of HSBC Holdings plc, will step aside as an independent non-executive Director of HSBC UK Bank plc upon Dame Carolyn’s appointment. According to the announcement, HSBC held assets of US$3.23 billion as of 31 December 2025. The organization operates in 56 countries and territories, positioning it among the world’s largest banking and financial services groups.

HSBC UK Bank plc, a wholly-owned subsidiary of HSBC Holdings plc, supports over 15 million active customers across the UK with a full range of retail and commercial banking services.