Who is Pam Kaur? First Female CFO in the History of 160 years in HSBC

Pam Kaur makes history as HSBC’s first female chief financial officer (CFO) in 160 years. Kaur, 60, will officially take up his new role on January 1, 2025, succeeding interim CFO Jon Bingham after Georges Elhedery took over as CEO earlier this year.

Career background

HSBC Tenure: Kaur joined HSBC in April 2013 as Group Head of Internal Audit. Over the past decade, she has held a number of key positions including:

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• Group Chief Risk Officer: Appointed January 2020.
• Chief Risk and Compliance Officer: Responsible for compliance oversight in June 2021.
• Head of Wholesale Markets and Credit Risk: Promoted to this position in April 2019.

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Previous experience: Prior to joining HSBC, Kaul held key positions in major financial institutions:

• Global Head of Assurance, Deutsche Bank Group.
• Chief Financial Officer and Chief Operating Officer, Restructuring and Risk, Royal Bank of Scotland.
• Head of Compliance and Anti-Money Laundering at Lloyds TSB.

Educational qualifications

Kaur holds an MBA in Finance from the University of Leeds and a BA (Hons) in Commerce from Punjab University, India. She is also a member of the Institute of Chartered Accountants in England and Wales, a testament to her first-rate academic and professional qualifications.

Vision and future plans

Kaul was appointed when HSBC’s restructuring was ultimately seen as a much-needed effort to streamline the business into four key business units. While this marks a strategic shift for the bank, it is actually driven more by growth opportunities, particularly in Asia, and means she will take on a new role, which is expected to come into effect at the same time as the changes.

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However, Kaul’s extensive experience and leadership skills at HSBC make her a key figure in this transformation, especially in the changing financial landscape of today’s technology- and geopolitics-driven era.

Pam Kaur also achieved important milestones during her time at HSBC, contributing to the bank’s strategic direction and risk management framework. Here are some of her major achievements:

• Leadership roles: Kaur joined HSBC on 1 April 2013 as Group Head of Internal Audit. She has since held several senior positions. She became Group Chief Risk Officer in January 2020 and has also been responsible for compliance since June 2021.
• Risk Management Initiatives: Kaur serves as head of wholesale markets and credit risk and led an initiative in April 2019 to establish an enterprise-wide non-financial risk forum. This enhances the bank’s risk management capabilities across the bank. Global operations.
• Member of the Executive Committee: Kaur has been a member of the HSBC Group Executive Committee for over a decade, which affords her the opportunity to develop the bank’s strategy and operations at the highest level in line with the Bank’s policies.
• Global perspective: Kaur has 40 years of rich experience in the financial field. She worked in banks such as Deutsche Bank and Citigroup in the early days, so she is familiar with the best practices of the global banking industry and the very mature regulatory system. Significantly shaped HSBC’s compliance and risk management.
• Cultural significance: With the first female chief financial officer set to join in January 2025, Kaul has been appointed to position the bank in a specific cultural direction, demonstrating that diversity and inclusion is present at the highest levels of its management .
• Strategic Reorganization: The timing of her restructuring of HSBC into four distinct business units demonstrated her importance in guiding the bank through this change and sustaining its operations amid all external challenges.

With Kaur taking over the new role of CFO, it will further push HSBC’s growth curve as she is experienced and adept at leading.

Source: https://dinhtienhoang.edu.vn
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