HSBC CFO Pam Kaur to retire in 2027, shares fall 1.4%
HSBC said its chief financial officer Pam Kaur will step down in 2027, sending the stock down about 1.4% and erasing roughly £3.7 billion in value.
HSBC announced that Pam Kaur, the group chief financial officer since 2024 and the first woman to hold the post, will leave the role in 2027 and will not seek re-election. Kaur, a 13-year veteran who previously headed audit and risk-compliance, will transition to an advisory position for chief executive Georges Elhedery as the bank begins a succession hunt, evaluating both internal and external candidates. The news caused HSBC shares to slide roughly 1.4%, removing about £3.7 billion from its market value, which stands near £265 billion as the UK’s most valuable company.
Elhedery praised Kaur’s deep experience and financial discipline, noting her continued partnership in an advisory capacity. The move follows a broader overhaul by Elhedery that includes cost-cutting and a reorganisation of global divisions. Investors appear cautious as the bank navigates this leadership change.
