The Hongkong and Shanghai Banking Corporation Ltd. (HSBC) on Monday announced the appointment of Hitendra Dave as Chief Executive Officer of HSBC India subject to receipt of regulatory approval. He has been appointed as interim Chief Executive Officer effective June 7, 2021.
Mr. Dave succeeds Surendra Rosha who is moving to Hong Kong as the Co-Chief Executive of HSBC, Asia-Pacific.
Formerly Head of Global Banking & Markets of HSBC India, Mr. Dave has almost 30 years work experience in the Indian Financial Markets, including 20 years with the HSBC.
“We have a clear strategy, and the investment commitment from the Group. I am confident that under Dave’s leadership we will maximise the opportunity that lies ahead,” said Mr. Rosha.
HSBC India had reported a profit before tax (PBT) of $1.024 billion for FY 2020.
India is the third largest contributor to HSBC’s Group profits with Hong Kong and Mainland China being the top two contributors.
