Pam Kaur is the bank’s chief risk and compliance officer and has been there for over ten years.
In addition, Georges Elhedery, the CEO of HSBC, revealed intentions to restructure the massive UK bank in order to “unleash our full potential and drive success into the future.”
Mr. Elhedery is under pressure to manage tensions between China and the West, reduce expenses, and boost profitability.
Ms. Kaur will not only become the chief financial officer of HSBC, but she will also assume the position of executive director of the board, a position that will be up for election at the company’s upcoming annual general meeting.
Pam was the standout candidate among our excellent pool of internal and external applicants, Mr. Elhedery stated.
The bank will establish distinct business entities in Hong Kong and the UK as part of the shakeup strategy. Additionally, there will be two other operations: “international wealth and premier banking” and “corporate and institutional banking.”
These activities will be classified as either “western markets,” which comprise the UK, continental Europe, and the Americas, or “eastern markets,” which include the Asia-Pacific area and the Middle East.
As we concentrate on carrying out our strategic priorities, which have not altered, the new structure will make the organization simpler, more dynamic, and more agile, Mr. Elhedery stated.
