Pam Kaul has been with HSBC since 2013 and currently serves as the bank’s Chief Risk and Compliance Officer (HSBC).
HSBC has announced the appointment of the first female finance chief in the bank’s 159-year history as new bosses transform the business.
Pam Kaul has been with the bank for more than 10 years and currently serves as chief risk and compliance officer.
HSBC CEO Georges Ergederi has also unveiled plans to overhaul the UK-based bank to “unlock its full potential and set it up for success in the future”. did.
Mr. Elhederi is under pressure to cut costs, increase profits and navigate tensions between China and the West.
As well as becoming HSBC’s chief financial officer, Kaul will also take on the role of managing director on the board, whose members will be elected at the company’s next annual general meeting.
“We had a strong pool of internal and external candidates to choose from, but Pam was an exceptional candidate,” El-Hederi said.
Under the restructuring plan, the bank will create separate business units in the UK and Hong Kong. The company will also have two other businesses: Corporate and Institutional Banking and International Wealth and Premier Banking.
Business within these businesses is categorized as either the “Eastern Market”, which includes the Asia-Pacific region and the Middle East, or the “Western Market”, which covers the United Kingdom, Continental Europe, and the Americas.
“The new structure will create a simpler, more dynamic and agile organization as we focus on delivering on our strategic priorities, but that remains the case,” Elhederi said.
