Pam Kaur has emerged as a front-runner among a number of senior executives for one of the most important positions in international banking, and HSBC Holdings Plc is contemplating the appointment of the first female finance director in its 159-year history.
According to persons with knowledge of the situation, chief risk and compliance officer Kaur, 60, is reportedly a favorite for the chief financial officer position that opened up after Georges Elhedery took over Noel Quinn as chief executive officer of Europe’s largest lender on September 2.
According to persons who asked not to be named because they were talking confidential information, other possible possibilities 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.
According to the people, no decision has been taken definitively, and more contenders may enter the contest. An HSBC official declined to provide a comment. Elhedery, who is determined to leave his own mark on the firm as its next leader, has stated that HSBC is searching for a permanent CFO to replace him.
Elhedery will need to find a method to save $2 billion in expenses in order to maintain a crucial metric of the bank’s earnings as central banks throughout the world reduce interest rates—moves that would chip away at the revenue of large, international lenders like HSBC, according to Bloomberg Intelligence.
Kaur has experience working for some of the biggest institutions in the world, such as Deutsche Bank AG as the worldwide head of group audit and Citigroup Inc. as the global director of compliance for consumer banking, among other positions.
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