HSBC Holdings plc (HSBA.L)
- Reuters
HSBC's Pam Kaur smashes glass ceiling in major overhaul
HSBC's history-making new chief financial officer Pam Kaur is a battle-hardened risk and audit veteran who credits her success to the "Power of Chi". The first woman to occupy the role in the bank's 160-year history, she has observed at close quarters the challenges HSBC faces under new CEO Georges Elhedery, as it navigates a new interest rate cycle and a more fractious relationship between China and the West. Indian-born Kaur, 60, joined HSBC from Deutsche Bank in April 2013, rising to the role of group chief risk and compliance officer before landing her latest promotion in a sweeping revamp announced on Tuesday.
- The Wall Street Journal
New HSBC CEO Shakes Up Structure of Europe's Biggest Bank
HSBC unveiled a revamped structure designed to cut costs, at a time when falling interest rates are likely to eat into income at Europe's biggest bank by assets. Under the plan laid out Tuesday, HSBC will merge its commercial- and investment-banking units. The U.K. and Hong Kong, HSBC's biggest markets, will have standalone divisions.
