HSBC names Pam Kaur as first female CFO amid major restructuring

HSBC has named Pam Kaur as its first female finance chief, with a major overhaul that includes a new geographic setup and four consolidated business units. The bank plans to divide its operations between “Eastern markets” and “Western markets” branches. The new structure aims to simplify processes and decision-making to focus on strategic priorities and drive growth. HSBC has seen success amid the pandemic but faces challenges with the changing interest rate environment. The bank’s recent leadership shakeup and restructuring plans are aimed at cost-cutting and positioning for future growth. U.K.-listed shares of HSBC have seen a 6.28% increase year to date.