HSBC promotes Pam Kaur to CFO and announces restructuring

HSBC Holdings on Tuesday announced that starting next year, it will simplify its organisational structure, as it promoted its chief risk officer to the role of chief financial officer.

HSBC promotes Pam Kaur to CFO and announces restructuring

The London-based bank said it promoted Chief Risk & Compliance Officer Pam Kaur to CFO from January 1, with HSBC updating on a successor for her current role in due course. Kaur has almost 40 years of experience, having worked in the UK and the US for British, American and German banks. "Pam has strong technical knowledge and experience in treasury, capital, balance sheet and risk management. She has served on the group executive committee for over a decade and brings a global perspective and an appreciation of the strategic challenges and opportunities, locally and globally, facing the banking industry in general and HSBC in particular," HSBC said.

New organisation

Interim CFO Jon Bingham will resume his role as global financial controller. Former HSBC CFO Georges Elhedery became chief executive officer earlier this year. Further, the company said from January 1 it will simplify its organisational structure into four businesses: Hong Kong, UK, Corporate & Institutional Banking, and International Wealth & Premier Banking.