• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

HSBC appoints Pam Kaur as first female CFO; announces restructuring

by October 22, 2024
written by October 22, 2024

(Reuters) -HSBC Holdings named insider Pam Kaur as its first female finance chief on Tuesday, replacing Georges Elhedery who became CEO earlier this year, and announced a reorganization streamlining the bank into four business units.

Effective Jan. 1, 2025, the company will restructure its operations into four distinct business lines: Hong Kong, UK, Corporate and Institutional Banking, and International Wealth and Premier Banking, HSBC said in a separate filing.

HSBC is consolidating its Commercial Banking operations (excluding UK and Hong Kong) with its Global Banking and Markets business.

The new Corporate and Institutional Banking unit will also incorporate the predominantly wholesale banking activities of the Western Markets region (UK non-ring-fenced bank, Europe, and the Americas), the company said.

“The new structure will result in a simpler, more dynamic, and agile organisation as we focus on executing against our strategic priorities, which remain unchanged,” Elhedery said in a statement.

Kaur’s appointment fits into the 160-year-old lender’s focus on continuity amid a shift to growth from restructuring, in the backdrop of rising risks associated with geopolitical tensions and an end to interest rate hikes.

Chief Risk and Compliance Officer Pam Kaur, 60, joined HSBC in April 2013 as group head of internal audit.

Kaur has previously held senior positions at top global banks, including Citigroup’s global director of compliance for consumer banking and Deutsche Bank’s global head of group audit.

Jon Bingham, interim Group CFO, will resume his role of Global Financial Controller, HSBC said.

“We had a strong bench of internal and external candidates to choose from and Pam was the exceptional candidate to recommend to the Board,” Elhedery said.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Analysis-Japan’s general election outcome could muddle BOJ plans
next post
Tesla looks like an ‘imbalanced VC portfolio,’ Jefferies says

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Trump implies government could cut contracts and subsidies to Musk’s companies

      June 7, 2025
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (505)
    • Stock (6,426)

    Latest News

    • Trump implies government could cut contracts and subsidies to Musk’s companies
    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

    Popular News

    • FAA says US flights can resume to airports in northern Haiti
    • EV firm Polestar expects positive fourth-quarter gross margin despite slow demand

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy