Only two women gain senior roles at HSBC Asia-Pacific

HSBC has undergone a major restructuring that has resulted in female executives losing important positions in Asia. The bank has merged its corporate and institutional banking units and asked managers to reapply for senior roles. Out of at least 15 new positions, only two were filled by women. Christina Ma and Amanda Murphy, both prominent female leaders at HSBC, were in contention to lead the new combined unit for Asia and the Middle East. However, neither was selected, and Ma has decided to leave the bank. The two women who did obtain senior roles are Hajrah Sakauloo and Priya Kini, who lead banking operations in Mauritius and several smaller markets respectively. In major markets like Singapore, China, and India, all available top banking roles were awarded to men. Many employees within the bank were surprised by some of the appointments. The lack of clear information from HSBC on gender diversity before and after the changes makes it challenging to assess the situation fully. The restructuring was led by Georges Elhedery, HSBC’s CEO, who aims to streamline operations and reduce costs. While HSBC has taken measures to improve diversity in some areas, the recent appointments do not reflect a significant advancement for women in top positions within the Asia-Pacific region. Despite these challenges, women held 34.6% of senior leadership roles at HSBC in 2024, a slight increase from the previous year. This percentage is similar to that of its peer banks, such as Standard Chartered and JPMorgan Chase. HSBC has appointed women to leadership positions in other parts of the bank as well, hinting at ongoing efforts to promote diversity.