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HSBC On Tuesday, it appointed veteran insider Pam Kaur as its first female finance chief and announced a merger of the bank into four business units.
Kaur will take over on January 1, replacing interim chief financial officer Jon Bingham, according to regulatory filings with the Hong Kong Exchange.
This is HSBC’s second major leadership shake-up in recent months, after former finance chief Georges Elhedery was appointed chief executive of the group in July.
The bank also announced plans to streamline its operations to “reduce duplication of processes and decisions.” Starting in January, it will operate through four divisions: Hong Kong, UK, International Wealth and Premium Banking and Corporate and Institutional Banking.
“The new structure will result in a simpler, more dynamic and agile organization as we focus on executing our strategic priorities, which remain unchanged,” Elkhedri said in a statement on Tuesday. He added Said that this reorganization will help promote HSBC’s “next goal”. growth stage”.
The bank’s new corporate and institutional banking unit will integrate its commercial banking (outside Hong Kong and the UK), global banking and markets operations and Western markets wholesale banking.
This breaking news story is being updated.
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