FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the
month of October
HSBC Holdings plc
42nd
Floor, 8 Canada Square, London E14 5HQ, England
(Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F).
Form
20-F X Form 40-F
22 October 2024
HSBC HOLDINGS PLC
HSBC ANNOUNCES APPOINTMENT OF PAM KAUR AS GROUP CHIEF FINANCIAL
OFFICER (GCFO)
HSBC
Holdings plc ('HSBC', the 'Company' or the 'Group') announces the
appointment of Pam Kaur as Group Chief Financial Officer (GCFO) and
an Executive Director of the Board of Directors (the 'Board')
effective 1 January 2025.
Pam,
who joined the Group in April 2013 as Group Head of Audit, is
currently Group Chief Risk and Compliance Officer (GCRCO). She is a
highly experienced financial services executive with almost 40
years' experience having worked in the UK and the US for British,
American and German Banks.
A
qualified chartered accountant, Pam has strong technical knowledge
and experience in treasury, capital, balance sheet and risk
management. She has served on the Group Executive Committee for
over a decade and brings a global perspective and an appreciation
of the strategic challenges and opportunities, locally and
globally, facing the banking industry in general and HSBC in
particular.
Jon
Bingham, interim GCFO, will resume his role of Global Financial
Controller.
Sir
Mark Tucker, HSBC Group Chairman, said: "I would like to
congratulate Pam on her appointment as GCFO. She is highly
respected and well known to the Board and was the unanimous
choice. I wish Pam every success in her new role and thank
Jon for his excellent support as interim GCFO."
HSBC
Group Chief Executive, Georges Elhedery, said: "We had a strong
bench of internal and external candidates to choose from and Pam
was the exceptional candidate to recommend to the Board. I look
forward to partnering with her for the next stage of the Bank's
growth and development. I would also like to thank Jon for his
outstanding support during the interim period."
We will
update on Mrs Kaur's successor as Group Chief Risk and Compliance
Officer in due course.
For
and on behalf of
HSBC Holdings plc
Aileen
Taylor
Company
Secretary
HSBC Holdings plc
Registered Office and Group Head Office:
8
Canada Square, London E14 5HQ, United Kingdom
Web: www.hsbc.com
Incorporated in England with limited liability. Registered in
England: number 617987
Supplementary information
Pam
Kaur, aged 60, joined HSBC in April 2013. She is currently the
Group Chief Risk and Compliance Officer. Her appointment as an
Executive Director of the Board is subject to election at the next
annual general meeting of the Company.
Mrs
Kaur's remuneration as Executive Director and Group Chief Financial
Officer of the Company under her service contract will consist of a
base salary of £803,000 per annum, a fixed pay allowance of
£1,085,000 per annum and a pension allowance of £80,300
per annum equal to 10% of her base salary. She will receive
benefits in accordance with the approved Directors' Remuneration
Policy.
Mrs
Kaur is eligible to be considered for discretionary variable pay
that consists of an annual incentive award up to a maximum value of
215% of base salary, and a long-term incentive award up to a
maximum of 320% of base salary. This is determined by the Group
Remuneration Committee with reference to the performance of the
Company and her personal performance, in accordance with the terms
of the Directors' Remuneration Policy approved at the 2022 Annual
General Meeting.
The
Company's current Directors' Remuneration Policy expires at the
2025 AGM. The Group Remuneration Committee is currently engaging
with major shareholders on a revised policy, which, subject to
approval by shareholders at the 2025 AGM, will apply to both
Executive Directors of the Company.
Mrs
Kaur does not have any relationships with any directors, senior
management, substantial or controlling shareholders of the Company.
As at the date of this announcement, Mrs Kaur has interests in
1,960,245 shares of the Company, representing approximately 0.01%
of the issued shares of the Company, within the meaning of Part XV
of the Securities and Futures Ordinance of Hong Kong.
There
are no matters relating to the appointment of Mrs Kaur that need to
be disclosed pursuant to Listing Rule 6.4.8(2) to (6) of the
Listing Rules of the Financial Conduct Authority. Save as disclosed
above and in the Appendix, there is no other information required
to be disclosed pursuant to Rule 13.51(2) of the Rules Governing
the Listing of Securities on The Stock Exchange of Hong Kong
Limited.
Note to editors:
1. Professional qualifications of Mrs Kaur
1989:
Fellow, The Institute of Chartered Accountants in
England and Wales
1986:
MBA, Finance - Punjab University, India
1984:
BCom Hons, Accountancy - Punjab University,
India
2. HSBC career history and other appointments of Mrs
Kaur
2021
- date: Group Chief Risk and Compliance
Officer, HSBC
2020
- 2021: Group Chief Risk Officer,
HSBC
2019
- 2020: Head of Wholesale Market and Credit
Risk, HSBC
2013
- 2019: Group Head of Internal Audit,
HSBC
2023
- date: Non-executive Director, The
Hongkong and Shanghai Banking Corporation Limited
2022
- date: Non-executive Director, abrdn
plc
3. Board of Directors
The
Board of Directors of HSBC Holdings plc as at the date of this
announcement comprises:
Sir Mark Edward Tucker*, Georges Bahjat Elhedery, Geraldine Joyce
Buckingham†,
Rachel Duan†,
Dame Carolyn Julie Fairbairn†,
James Anthony Forese†,
Ann Frances Godbehere†,
Steven Craig Guggenheimer†,
Dr José Antonio Meade Kuribreña†,
Kalpana Jaisingh Morparia†,
Eileen K Murray†,
Brendan Robert Nelson† and
Swee Lian Teo†.
* Non-executive Group Chairman
† Independent
non-executive Director
4. HSBC Holdings plc
HSBC
Holdings plc, the parent company of HSBC, is headquartered in
London. HSBC serves customers worldwide from offices in 60
countries and territories. With assets of US$2,975bn at 30 June
2024, HSBC is one of the world's largest banking and financial
services organisations.
Media enquiries to:
Heidi
Ashley +44 (0) 7920
254057
heidi.ashley@hsbc.com
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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HSBC
Holdings plc
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By:
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Name:
Aileen Taylor
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Title:
Group Company Secretary and Chief Governance Officer
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Date: 22 October 2024
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