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Hsbc Holdings Plc is about to begin the search for a new CFO, evaluating a group of internal and external candidates willing and qualified to assume one of the most important positions in the global financial sector. The bank seeks to replace Pam Kaurwho unexpectedly announced Thursday that he would retire from the position in 2027.
Several people close to the company who spoke with BloombergNews, and who asked not to be identified when discussing private information, have mentioned several possible successors. The new appointment of hsbc “could give insight into the long-term financial management priorities of hsbcsaid Kathy Chananalyst Morningstar.
A spokesperson for hsbc He said the bank cannot comment on “speculation.” The people in this pool of potential candidates are listed in no particular order.
Will McLane, hsbc
McLane joined Hsbc in 2021 as group corporate development director, before being promoted in 2023, when he was given the role of strategy director in addition to his previous roles. Just like kaur and other senior executives hsbc, McLane He spent much of his career at the bank’s main rival in the United States, Citigroup Inc. There he held several senior positions, including vice president of its Asia technology group and vice president of global financial institutions.
His name had previously been mentioned for the CFO position. He wouldn’t be the first investment banker to become CFO of hsbc: Ewen Stevenson had already had a long career as a corporate advisor before hsbc appointed him CFO in 2018.
Faisal Yousaf, hsbc
As group treasurer hsbc during the last three years, Yousaf could be a strong candidate for the CFO position. With more than two decades of experience in the company, Yousaf He has a deep and detailed knowledge of the bank’s internal workings, particularly its risk and financing operations, which is very useful for any CFO. Additionally, he is well-known among investors, as he leads conference calls with fixed income investors.
Aileen Taylor, hsbc
With the departure of Kaur, Taylor She is now the highest-ranking executive in hsbcwhere she serves as Director of Human Resources and Governance. Taylor joined from NatWest Group Plc in 2019 as general secretary of the company and has since racked up a series of promotions. In his current role, he manages more than 3,000 people and is responsible for the development of the bank’s 210,000 employees.
Trained in law, she moved from London to Hong Kong in recent months, bringing her closer to the center of operations of hsbc. However, Taylor He has not held any position in the financial area of a bank.
Barry O’Byrne, hsbc
O’Byrne He applied for the position of CEO of hsbcbut was discarded in favor of Georges Elhedery. His clear interest in taking on greater responsibilities subsequently led to his promotion from head of global commercial banking to executive director of international wealth and prime banking. In that role, he oversees the efforts of hsbc for becoming the go-to institution for managing the newly forged fortunes of Asia’s growing ranks of millionaires and billionaires.
The board of directors of hsbc has previously overlooked a lack of formal CFO experience to prioritize those with experience on the executive committee. O’Byrne He is one of the bank’s most senior managers and has first-hand knowledge of several of the institution’s main businesses.
Jon Bingham hsbc
bingham is a possible internal candidate with experience in the position. He served as interim chief financial officer before kaur was appointed, and later resumed his role as global financial controller. Earlier this year, Bingham was promoted to chief financial officer of operations hsbc in the UK.
With two decades of experience in the accounting firm kpmg on your resume, bingham He has a more typical CFO background than other potential internal candidates. The president himself hsbc, Brendan Nelson spent 25 years in kpmg.
Claire Bairdformer employee of hsbc
Claire Baird He had been one of the leading figures in the finance department of hsbceventually occupying the position of financial director of Hsbc UK before leaving the company earlier this year. Previously, he headed the finance department of the bank’s wealth banking and personal banking division.
Before joining hsbc, Baird He had been a senior manager at NatWest, where he worked closely with the CFO stevenson before he was hired to fill the same position in Hsbc. Baird has yet to reappear in any position since leaving hsbc, which makes her a possible candidate for the position.
Jack Yang, hsbc
Yang was named chief financial officer for Asia and the Middle East earlier this year. He has held several senior positions since joining the entity in 2009, including group treasurer for the same region and has worked in the risk area in Shenzhen, China.
William Chalmersfinancial director of Lloyds
Since any search is likely to focus on experienced CFOs from similar banks, William Chalmers, financial director of Lloyds Banking Group Plc, as an obvious external candidate. In addition, he would follow the path of an investment banker who became a financial director, with years of experience in the latter position. Before joining Lloyds in 2019, Chalmers spent more than 25 years in Morgan Stanley, where he was co-head of its global financial institutions group, a key position in which he advised its main clients in the financial sector.
Chalmers He briefly served as interim CEO of the British bank in 2021, before it appointed the current CEO, Charlie Nunn, who in turn is a former student of Hsbc.
Jim O’Neil, UK Treasury
Former investment banker Bank of America Corp., O’Neil He is now one of the most senior UK civil servants working in the British Ministry of Finance. He has alternated between positions in the public sector and private for the past two decades, managing Treasury holdings in nationalized banks after the financial crisis and then returning to Bank of America as an investment banker.
He returned to government work last year with a mandate to help drive the country’s growth under the leadership of the former minister of Tax authorities Rachel Reeves. Links with regulators and major financial institutions are important assets for any bank CFO.
Kavita Mahtani, Wells Fargo
Mahtani let Hsbc en recent months to assume the position of financial director of the corporate and investment unit of Wells Fargo & Co. However, she earned a strong reputation internally after serving as CFO of the hsbc in North America. Roberts selected her for the same position in the corporate and institutional banking division.
Mahtani, who previously worked at Morgan Stanley and Citigrouphad also been considered a possible candidate for the position of group financial director before kaur was named.
