Who is Pam Kaur, of Indian origin, the first female CFO of HSBC in its 160-year history

HSBC bank has appointed Pam Kaur, of Indian origin, as its chief financial officer (CFO), the first woman to hold the position in its 160-year history. She replaces Georges Elhedery, who took charge of the group at the start of the year.

In a press release, HSBC Bank said that Pam Kaur will also serve as executive director of the board, effective January 1, 2025.

At 60, Ms. Kaur has nearly four decades of experience in the banking industry, focusing on auditing, risk management and compliance.

Who is Pam Kaur?

1. Pam Kaur is a chartered accountant with Ernst & Young and began her career in internal audit at Citibank. She joined HSBC in April 2013 as head of group internal audit and became group risk director in January 2020, taking responsibility for compliance in June 2021.

2. She holds an MBA in Finance and a BCom (Hons) from Panjab University, Chandigarh. She is a member of the Institute of Chartered Accountants in England and Wales.

3. Pam Kaur has held several senior leadership positions at major global financial institutions. His previous roles include Global Head of Group Audit for Deutsche Bank, Chief Financial Officer and Chief Operating Officer of the Restructuring and Risk Division of Royal Bank of Scotland Group PLC and Group Head of Compliance and anti-money laundering at Lloyds TSB. She also served as Director of Compliance at Citigroup International and as Global Director of Compliance for Citigroup’s Global Consumer Group. She currently acts as a non-executive director of Abrdn PLC.

4. As CFO, Pam Kaur will earn an annual base salary of £803,000 (Rs 8.3 crore), a fixed salary allowance of £1,085,000 (Rs 8.7 crore) and a retirement allowance of 80,300 £ (Rs 64 lakh). She is also eligible for discretionary variable compensation, including an annual incentive bonus of up to 215 percent of her base salary and a long-term incentive bonus of up to 320 percent of her base salary.

5. Pam Kaur joined HSBC shortly after the bank was investigated for violating anti-money laundering and sanctions sanctions, leading to an agreement to stay proceedings with the US Department of Justice. Since then, she has significantly influenced the bank’s risk management strategies, including her appointment in April 2019 as head of wholesale and credit risk and chair of the non-financial risks forum at the Bank. company scale.