HSBC Names Pam Kaur as First Female CFO Amid Major Restructuring

The bank's reorganization aims to streamline operations and focus on key markets as it faces geopolitical and economic challenges.

Pam Kaur, a veteran with nearly 40 years of experience in banking, will become HSBC's first female CFO starting January 1, 2025.
The restructuring divides HSBC's operations into four business units: Hong Kong, UK, corporate and institutional banking, and international wealth and premier banking.
HSBC CEO Georges Elhedery's overhaul includes creating separate Eastern and Western market regions to simplify the bank's geographic governance.
The reorganization is part of a broader strategy to cut costs, with some senior staff facing redundancies as overlapping roles are eliminated.
The changes come amid geopolitical tensions and economic pressures, with a focus on strengthening HSBC's presence in key Asian markets.