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HSBC Holdings is considering the appointment of its first female finance director in its 159-year history, with Pam Kaur emerging as a leading candidate. Currently serving as the chief risk and compliance officer, Kaur is a strong contender for the chief financial officer role that became available after Georges Elhedery assumed the position of CEO at Europe’s largest lender on September 2, according to reports.
Other potential candidates for the CFO position include Greg Guyett, head of global banking and markets; Willard McLane, group head of strategy and corporate development; and Kavita Mahtani, CFO of HSBC’s Europe and Western Markets. No final decision has been made regarding the appointment, and the possibility exists for additional candidates to enter the selection process. HSBC has not commented on the matter but is actively searching for a permanent CFO to succeed Elhedery.
Challenges ahead
The bank faces significant challenges, particularly as central banks worldwide lower interest rates, which could diminish revenue streams for major international banks like HSBC. Elhedery is tasked with identifying ways to cut $2 billion in costs to maintain essential profitability metrics.
Kaur’s extensive experience includes roles at some of the world’s largest financial institutions. She previously held several positions at Citigroup, including global director of compliance for consumer banking, and served as the global head of group audit at Deutsche Bank AG, enhancing her credentials in the banking sector.
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