TRIO OF TRAILBLAZERS
HSBC threesome joins the ranks of groundbreaking women executives
Executive team members at HSBC have captured the spotlight in not one, but three, categories in the 2018 Canada’s Most Powerful Women: Top 100 Awards.
It’s a telling testament to a progressive financial institution that achieved gender parity on the board of directors and senior management team in 2013.
“We have had a long history with many strong women leaders,” says Sandra Stuart, president and CEO. “Today, women make up 50 per cent of HSBC Bank Canada’s board of directors and 60 per cent of our senior leadership roles. It was part of a deliberate effort, and emblematic of our wider approach to diversity on all fronts.”
Its achievements have not gone unnoticed. For example, HSBC has twice received the federal government’s Employment Equity Achievement Awards for Sector Distinction and Outstanding Commitment, and was recognized by Corporate Knights as a Top Performer for Gender Diversity in the financial services sector last year.
It has also put initiatives in place to ensure that the momentum continues, Stuart notes. “We are working hard to ensure we have a robust and diverse pipeline of future leaders to support our continued growth through employee resource groups, championing education and awareness, facilitating open discussions and mentoring. This year’s winners are playing a key part in achieving that.”
Georgia Stavridis, HSBC’s senior vice-president and head of financial crime compliance, is a winner in this year’s KPMG Professionals group. She joined the firm in 2001, assuming her current role in 2014. A lawyer by training, her entire career with HSBC has been in senior compliance roles. During that time she has been responsible for starting the anti-money laundering compliance team, which evolved into the financial crime risk group — a team of 400 people at its peak.
A major career turning point for Stavridis was the 9/11 attacks. “When the towers went down, it was a pivotal time in terms of anti-money laundering laws. With that came a strong sense of trying to protect society. I realized then that financial crime is an extremely important area and was one of the first women to put up my hand to take on the challenge.”
Over time she has accumulated extensive expertise in financial crime compliance, not only money laundering but also sanctions, bribery, corruption and fraud programs, which has secured her position as a leader in the field.
Stavridis considers herself to be a strong team motivator. “I like to inspire others who are aligned and have similar goals. That’s the only way to create a higher performing team.”
She also takes the time to mentor both men and women. “I never felt as a woman that I was treated differently or there were different options available. I’ve always believed that if you work hard, you could achieve your goals.”
Stavridis is quick to point that she is also a mentee. “It helps me to keep a finger on what millennials and others in different areas are thinking and doing. It’s important to connect with all sorts of people in order to move to the next level of any career.”
Being part of a genderbalanced team is truly inspirational, she says. “Having a very balanced work environment means you get good dialogue around different ideas.”
As a mother of a 10-yearold daughter, Stavridis is keenly aware of the importance of being a role model for her and other young females. “This WXN recognition shows I can be a mom, and have a really rewarding and busy job. You definitely have to work at it, but there’s nothing stopping you if you put your mind to it — and are not afraid to ask for help along the way.”
Sophia Tsui, senior vicepresident and chief auditor and winner in the HSBC Corporate Executives category, has had a long and successful career in the HSBC family. She joined the company in 1994 after obtaining her chartered professional accountant designation, working in the commercial lending group, and made her way up the ranks to her current role.
She admits that in those early years she saw the job as a stepping stone to another industry, but ended up staying because of the career opportunities and the people. “I went into risk after five years in commercial lending, which was more in line with what I wanted. Many new risk management tools kept getting introduced post-financial crisis; I was constantly able to work on new things and be innovative. It was all so new and interesting at the time.”
In her latest role, which she assumed in 2016 following a two-year secondment in London, she has returned to her core skills in internal audit. “You could say I have gone back to my roots. That being said, the industry is very dynamic and continues to change today.”
Things have progressed for women considerably in the workplace, she adds. “I think work/life balance has become much easier for both women and men. There is so much more technology available today than when I started. We have greater flexibility to work remotely as needed.”
Tsui says she has been fortunate in that every manager she has had throughout her career has been supportive. “They gave me the confidence to take on new roles. So much so, I don’t tend to think about gender when discussing leadership.”
That encouragement has also heightened her own desire to spot and encourage young talent. “I didn’t have as much confidence early in my career. But someone was always there to push me to do something different or gave me opportunities to raise my profile. As a result of that, I mentor a lot of people now. I think that’s important, especially for women who tend to have less confidence and need that push and encouragement.”
When giving advice on mentoring she makes a point of encouraging people to seek out those with different strengths, she adds. “That’s where you benefit from the most learning and development. If you work with similar people, you don’t develop as much as a leader because you already have those skills. I love the fact that everybody has different perspectives.”
Kim Hallwood, winner in the Mercedes-Benz Emerging Leader category, is one of the newest members of the HSBC Bank Canada executive team. She joined the firm as the senior manager of corporate sustainability in 2011.
In her role, Hallwood leads the regional implementation of HSBC’s global sustainability programs and initiatives in the areas of climate business, community investment, sustainability risk, and operational sustainability.
“It’s quite a unique role,” she says. “When I stepped into it in 2011, I was the only Canadian on a 100-member global team at HSBC.”
Hallwood says her passion for sustainability began during her university studies. “When I was doing my MBA, there was no such thing as sustainability or green courses. So I took one on innovation, where I looked at non-conventional industries that were incorporating environmental thinking into their business models. I realized then that businesses can be profitable and do good.”
She has continued to be a passionate and vocal champion for corporate sustainability, garnering a significant reputation in the industry and beyond for the work she has done on the field. Among other distinctions, Hallwood was recognized in Delta Management Group Canada’s Clean50 annual awards in 2016, which honours Canada’s leaders in sustainability.
Hallwood was also responsible for launching the HSBC Water Programme in Canada, a global initiative that has engaged more than 4,000 employees in freshwater research and learning. In 2014, she led HSBC’s partnership with Indspire and Pathways to Education, launching the HSBC Indigenous education program, which delivered $1 million in programs to support First Nations, Metis and Inuit youth.
Through her efforts, HSBC Canada has been consistently recognized as one of Canada’s top corporate citizens. She was instrumental in establishing the first Canada Climate Business Council, part of an HSBC global forum that looks at the risks and opportunities associated with climate change. “It is essential that we bring people with diverse perspectives together and work across boundaries. As a global organization we are starting to think differently about we can do as a force for good, which is a very exciting opportunity.”
While banking may not be the first industry that comes to mind when it comes to sustainability, Hallwood believes it is uniquely positioned to drive change. “The interesting thing about banking is you can create a positive impact through your everyday operations and the services you provide to your customers. The opportunity to do that at scale is what has kept me working in financial services.”