Pam Kaur Takes on CFO Role at HSBC

Pam Kaur has made history by being appointed the Chief Financial Officer (CFO) of HSBC Bank, becoming the first woman to hold this esteemed position in the bank's 160-year legacy. Starting on January 1, 2025, she will also take on the role of Executive Director on the Board of Directors. At 60 years old, Kaur brings nearly 40 years of banking expertise, particularly in auditing, risk management, and compliance. She takes over the position from Georges Elhedery, who transitioned to CEO earlier this year.

Professional Journey

Kaur began her professional journey at Citibank, where she worked in internal audit after qualifying as a chartered accountant at Ernst & Young. She joined HSBC in April 2013 as the Group Head of Internal Audit and advanced to the role of Group Chief Risk Officer in January 2020. Throughout her career, Kaur has held pivotal positions at major financial institutions, such as Global Head of Group Audit for Deutsche Bank and CFO of the Restructuring and Risk Division at Royal Bank of Scotland Group PLC.

Compensation and Contributions

In her role as CFO, Kaur will receive a base salary of £803,000, in addition to a fixed pay allowance of £1,085,000 and a pension allowance of £80,300. She is also entitled to significant discretionary variable pay, with potential annual bonuses reaching up to 215% of her base salary. Kaur has been instrumental in shaping HSBC's risk management strategies, especially in light of the bank's previous challenges related to anti-money laundering and sanctions compliance.