HSBC Holdings Plc is considering appointing its first-ever female finance director in its 159-year history, with Pam Kaur, the bank’s Chief Risk and Compliance Officer, emerging as a top contender.

Kaur has held various prominent roles across major financial institutions, brings a wealth of experience. Her previous positions include Global Director of Compliance for Consumer Banking at Citigroup Inc. and Global Head of Group Audit at Deutsche Bank AG.

According to sources familiar with the matter, Kaur, 60, is a leading candidate for the role of chief financial officer (CFO), which became vacant after Georges Elhedery was promoted to Chief Executive Officer on September 2, replacing Noel Quinn.

Kaur is among several senior executives being considered for the prestigious position at Europe’s largest lender. Other potential candidates include Greg Guyett, Head of Global Banking and Markets; Willard McLane, Group Head of Strategy and Corporate Development; and Kavita Mahtani, CFO of HSBC’s Europe and Western Markets. However, the final decision has yet to be made, and more candidates could enter the race, media said.

HSBC has previously stated that it is searching for a permanent CFO to succeed Elhedery, who aims to reshape the bank under his leadership. As central banks worldwide lower interest rates—a move that threatens to reduce revenues for global lenders like HSBC—Elhedery faces the challenge of cutting $2 billion in costs to maintain a key measure of the bank’s profitability.