HSBC's Asia division restructure reduces female leadership roles

HSBC Holdings Plc has undergone a major restructuring that has affected female executives in Asia. The bank merged its corporate and institutional banking units and required managers to reapply for senior positions. This has resulted in two prominent women, Christina Ma and Amanda Murphy, losing out on top roles within the newly combined unit. Of the 15 new senior positions created in Asia-Pacific, only two were filled by women. Hajrah Sakauloo will lead banking in Mauritius, and Priya Kini will manage smaller markets like Bangladesh and Sri Lanka. In contrast, top jobs in key markets like Singapore, China, and India were all awarded to men. The lack of transparency from HSBC about gender representation in its senior roles makes it hard to assess changes before and after the restructuring. The overhaul, headed by CEO Georges Elhedery, aims to streamline operations and reduce costs. Despite the setbacks in the corporate banking sector, HSBC has appointed women in other areas of its business. Recent senior female appointments include Pam Kaur as chief financial officer and Luanne Lim as CEO for Hong Kong. In a broader context, HSBC's percentage of women in senior leadership roles has slightly increased, now at 34.6%. While HSBC is making strides in diversity overall, the recent changes have sparked discussions among staff regarding gender representation, particularly in key positions.