HSBC

Major executive moves and leadership changes across the finance industry.

This article appears in the September 2026 issue of Global Finance Magazine.

The World Bank Group appointed Michael Kremer to be the organization’s chief economist and senior vice president for development economics.

Most recently, he served as director of the University of Chicago’s Development Innovation Lab, where he researched economic growth, technological change, and development economics. Kermer, Abhijit Banerjee, and Esther Duflo jointly won the Nobel Prize in Economics in 2019 for their “experimental approach to alleviating global poverty.

Kremer “has spent his career not just identifying what works in development but proving it at scale,” said Ajay Banga, President of the World Bank Group. “That is exactly the kind of thinking we need.”           —Rob Daly

After more than a decade at HSBC, Pam Kaur will step down as Group CFO, a position she has held since January 2025, before the bank’s 2027 annual meeting.

She will assume an advisory role to support Group CEO Georges Elherdy and ensure a smooth transition for her successor.

Kaur began her career in 2013 as group head of internal audit before advancing to the head of wholesale market and credit risk, group chief risk officer, group chief risk and compliance officer, and eventually group CFO.

Brendan Nelson, HSBC Group Holding plc chairman, praised Kaur for her “strong judgment and integrity.” She will leave the Group CFO role with the firm’s “deepest thanks and best wishes,” he added. —Rob Daly

J.P. Morgan named Nelle Miller and William Sinclair as co-CEOs of its U.S. Private Bank in September.

The pair leads the firm’s $2.4 trillion U.S. private banking business, overseeing more than 5,500 professionals across 57 offices who serve the wealthiest individuals, family offices, and institutions nationwide.

The appointments follow the July 2025 naming of David Frame as global CEO of J.P. Morgan Private Bank. Miller and Sinclair joined in 2002 and 2007, respectively. Miller currently heads the firm’s New York market, while Sinclair leads the Financial Leaders Group.

“We have a fantastic franchise, with exceptional people and an unparalleled breadth of capabilities,” Sinclair said.      —Anthony Noto

IA Global Capital, a technology-focused investment bank with offices in New York and London, announced that Jules Wurlod has joined the firm as managing director.

Wurlod has served as M&A director for circular businesses at Houlihan Lokey since 2020, focusing on circular technology services such as device-as-a-service, IT asset management, IT asset disposition, recommerce, and trade-in. He previously worked as a project leader at Boston Consulting Group, advising Fortune 500 companies and government officials across Europe and the Middle East on corporate strategy and sustainability. —Anthony Noto