Hitendra Dave succeeds Surendra Rosha who is moving to Hong Kong as the co-chief executive of HSBC Asia-Pacific
HSBC, a British multinational investment bank and financial services company has announced the appointment of bank veteran Hitendra Dave as its new chief executive for India.
Dave succeeds Surendra Rosha who is moving to Hong Kong as the co-chief executive of HSBC Asia-Pacific.
Hitendra Dave, formerly Head of Global Banking & Markets of HSBC India, has almost 30 years’ work experience in the Indian Financial Markets, of which the last 20 have been with HSBC.
He joined the bank in 2001 in the Global Markets business and has risen through the ranks to his current role of MD & Head of Global Banking and Markets business.
Surendra Rosha said, “I cannot think of a more qualified person to take over the mantle of leadership at HSBC India. We have a clear strategy and investment commitment from the (HSBC) group. I am confident that under Dave’s leadership we will maximize the opportunity that lies ahead,”
The global banking and market segment, which the bank defines as an emerging markets-led, financing-focused business providing investment and financial solutions, contributed more than half of the pre-tax profits at USD 593 million in 2020, up from USD 533 million in 2019.
Dave had served as the interim CEO of the bank earlier as well, before Rosha’s appointment. He is a postgraduate in Business Administration and holds a degree in Economics from Delhi University.
HSBC Bank India, is an Indian subsidiary of UK-based HSBC Holdings plc, is a bank with its operational head office in Mumbai. It is a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India.
HSBC has 26 branches in 14 Indian cities and employs 39,000 people, including those in back-offices helping its global operations.
