Hong Kong and Shanghai Banking Corporation (HSBC) Chief Financial Officer (CFO) Palm Kaur is in the headlines these days. Indians are searching a lot about her on the internet. From her education to her salary, a lot of searches are being done on Google.
Who is HSBC’s Palm Kaur
Palm Kaur has been appointed as the Chief Financial Officer (CFO) of Hong Kong and Shanghai Banking Corporation (HSBC). Seeing the work of Indian origin Palm Kaur, HSBC Bank has changed its 160-year history and appointed a woman as the Chief Financial Officer for the first time. Palm Kaur is now responsible for the accounting of HSBC, a renowned company of banking and financial services. An Indian woman will now handle the financial condition of the company worth ₹ 13643 lakh crore.
For the first time in 160 years, a woman is in charge of HSBC
Palm Kaur will be the first female Chief Financial Officer in the 160-year history of HSBC. At the age of 60, she will take charge of the bank’s top post. Prior to this, she has been associated with the company for the last 12 years. She will take charge on January 1, 2025. Pam Kaur, who started her career with HSBC in 2013, got promoted three times in 11 years.
Is Palm related to India?
Pam Kaur, a resident of Punjab, after completing her initial studies, did B.Com from Punjab University. After this, she took an MBA degree. She made her own identity at the expense of strong finance and accounting knowledge. Pam Kaur is a Fellow Member of the Institute of Chartered Accountants in England and Wales. She obtained a Chartered Accountant degree from Ernst & Young.
Palm Kaur’s salary is Rs 21 crore
As the CFO of HSBC, she will get 803,000 pounds i.e. about Rs 8.12 crore. Apart from this, she will get a salary allowance of 1,085,000 pounds i.e. about Rs 10.97 crore. Along with this, a pension allowance of 80,300 pounds i.e. about 81 lakh rupees will also be given. This means that their annual package reaches around 21 crore rupees. Apart from the salary package, they will also get bonus, annual incentive award of up to 215 percent, long term initiative award.
