HSBC has announced the appointment of its first female finance chief in the bank's 159-year history as its new boss shakes up the business. Pam Kaur has worked at the bank for more than a decade and is currently its chief risk and compliance officer.

The changes, set to take effect from January 2025, will see the bank simplified into four key units: UK, Hong Kong, corporate and institutional banking, and international wealth and premier banking

HSBC’s overhaul will see the bank split into four separate units under the control of two distinct Eastern and Western markets divisions, new CEO Georges Elhedery said