HSBC outlines CFO Pam Kaur’s planned 2027 exit

HSBC has set out a multi‑year succession plan for its finance leadership, announcing that Group Chief Financial Officer Pam Kaur intends to leave her full‑time role in 2027. She will not stand for re‑election as a director at the bank’s 2027 annual general meeting, establishing that meeting as the latest possible point for her departure from the board.

The bank stated that Kaur is expected to remain as Group CFO and an executive director until the 2027 AGM, or to step down earlier if a successor takes up the role before then. HSBC said the precise date of her retirement from the full‑time position will be confirmed in due course but will be no later than the 2027 AGM.

Following her departure from the full‑time Group CFO role, Kaur will take on an advisory position to support the Group CEO. In this capacity, she will work on strategic projects and help ensure an orderly handover of responsibilities to her successor.

HSBC indicated that Kaur’s advisory employment is expected to continue through the end of 2028, subject to standard termination provisions. This extended period is intended to provide continuity in financial leadership as the new CFO settles into the role.

HSBC’s board has begun a formal process to identify a new Group CFO. The search will consider both internal and external candidates, signaling an open approach to filling one of the bank’s most senior executive positions.

The bank has not yet provided a timeline for the appointment of the new CFO, beyond indicating that Kaur will remain in her current role until the 2027 AGM or until a successor starts, whichever comes first.

HSBC has detailed the terms governing Kaur’s departure. During her notice period, which the company says ends on 9 September 2027, she will continue to receive salary, a cash allowance in lieu of pension, and benefits in line with her existing arrangements.

Kaur has been granted Good Leaver status for her deferred and long‑term incentive awards. Any vesting of these awards will be pro‑rated and will remain subject to the rules and performance conditions of the relevant plans.

In addition, she will remain eligible to be considered for annual incentive awards for the 2026 performance year, and on a pro‑rata basis for 2027. These provisions set out a clear framework for how her remuneration and incentives will be treated over the transition period.