HSBC Global Overhaul Witnesses Fewer Women in Senior Roles in Asia

• HSBC Holdings Plc’s global overhaul observes Asia’s female executives losing out from their jobs
• This happens after the lenders called the managers to reapply for senior roles

HSBC Holdings Plc’s global overhaul has witnessed Asia’s female executives losing out after lenders demanded the managers to apply again for combined corporate and institutional banking unit’s senior roles.

As per the people connected with the issue, two women i.e., global banking head for Asia-Pacific Christina Ma and commercial banking charge for South and Southeast Asia Amanda Murphy were in the race for leading Asia and Middle East’s merged unit. Both these women lost their lost their job while Christina will be leaving the bank.

In addition, only two women has been appointed out of at minimum of 15 new banking head roles named across Asia-Pacific i.e., chief executive officer and head of banking for Mauritius Hajrah Sakauloo and Priya Kini who overlooks a total of seven smaller markets that also includes Bangladesh, Sri Lanka and the Philippines. The top banking jobs at the priority markets of HSBC in Singapore, China and India, all went to men while on the other hand, majority of the smaller markets which is the incumbent country head has been given to males mostly.

According to the statements given by associated people, some of the appointment came across as a surprise while being discussed internally amongst the staff. Moreover, the HSBC’s restructuring and lack of detailed public reporting focusing on gender balance in senior Asia roles across the division complicates to compare the current mix to the one pre-shakeup.

One of the largest financial services organisations globally, HSBC caters in the Financial Services industry with specialities in Banking, Financial Services, International Finance and Banking, Wealth Management, Corporate and Business Banking, retail banking, Insurance, Retail Banking, Investment Banking, Commercial Banking, Private Banking, and Asset Management.