Ex-SBI chief Rajnish Kumar appointed HSBC independent director


The Hong Kong and Shanghai Banking Corporation (HSBC) said on Monday that it has appointed former State Bank of India (SBI) chairman Rajnish Kumar as an independent director and a member of the Audit Committee and Risk Committee of the Asian entity. The Indian operation is part of the same entity.

After a career of 40 years at SBI, Rajnish Kumar retired in October 2020. His tenure also included stints at the lender’s UK and Canada operations. 

Peter Wong, Chairman of the Board of HSBC said, “Rajnish’s depth and breadth of experience across India’s financial industry will be an invaluable addition to the Board of the Group’s flagship Asian entity as HSBC directs its focus towards the region. The opportunities presented by its 1.4 billion population, 18 million non-resident Indians and 40,000 MNCs make India a key component of HSBC’s growth strategy.”

Apart from HSBC now, Kumar is also an independent director of Larsen & Toubro Infotech, a director of India’s Lighthouse Communities Foundation, senior advisor of Baring Private Equity Asia in Singapore and advisor of Kotak Investment Advisors.

Along with Asia, HSBC is listed in the UK as a separate entity, HSBC Plc.

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