The Board of Directors of Hang Seng Bank Limited announced the changes to the Board composition of the Bank. Dr Raymond K F Ch'ien will retire as Director of the Bank and will cease to be the Chairman of the Board and Nomination Committee, and a Remuneration Committee member of the Bank, all with effect from the conclusion of the Bank's Annual General Meeting to be held in Second Quarter 2021 (2021 AGM), in order to devote more time to his other commitments and areas of interest. Dr Ch'ien has confirmed that he has no disagreement with the Board and that he is not aware of any matter relating to his retirement that needs to be brought to the attention of the shareholders of the Bank. The Board has resolved to appoint Ms Irene Y L Lee, currently an Independent Non-executive Director of the Bank, to succeed Dr Ch'ien as the Chairman of the Board and Nomination Committee, and a Remuneration Committee member of the Bank, all with effect from the conclusion of the Bank's 2021 AGM. Simultaneously, she will be re-designated as a member of the Risk Committee and remain a member of the Audit Committee. In addition, she has been appointed as a member of the Nomination Committee with effect from 28 December 2020 until the Bank's 2021 AGM when she will be re-designated as the Chairman of the Nomination Committee.