HSBC Holdings plc (HSBC) announced that Group Chief Financial Officer and Executive Director Manveen (Pam) Kaur intends to step down from her roles no later than the 2027 Annual General Meeting and will not seek re-election to the Board.

Kaur, who joined the leadership team in 2013 and became Group CFO in 2025, will transition to an advisory position supporting Group Chief Executive Officer Georges Elhedery on strategic projects through end-2028 to ensure continuity. The Board has begun a global search, considering both internal and external candidates, to appoint her successor.

Chairman Brendan Nelson credited Kaur with “significant contribution” over her 13-year tenure across Internal Audit, Risk & Compliance, and Finance, while CEO Elhedery highlighted her “firm commitment to financial discipline.”

Key terms of departure: • Employment and Board tenure continue until the 2027 AGM at the latest, with full salary, cash pension allowance and benefits through her notice period ending 09 September 2027. • Eligibility for an annual incentive for the 2026 performance year and a pro-rated award for 2027, subject to performance conditions. • Granted “Good Leaver” status for existing deferred and long-term incentive (LTI) awards; vesting will follow scheduled dates and be pro-rated where applicable, subject to malus and clawback provisions. No new LTI awards will be granted. • Post-retirement advisory contract through 2028, standard termination terms, continued medical, tax and legal support for up to seven years, and ongoing directors’ and officers’ insurance coverage. • HSBC will contribute to legal fees related to her retirement arrangements; no additional compensation is payable.

HSBC, headquartered in London, operates across 56 countries and territories with total assets of USD 3,438.00 billion as at 30 June 2026.