HSBC, The Hongkong and Shanghai Banking Corporation has appointed former State Bank of India (SBI) Chairman Rajnish Kumar as an Independent Director and a member of Audit Committee and Risk Committee of the Asian entity.
He retired from SBI in October 2020 after a 40-year career spanning. His international tenure included stints at SBI’s UK and Canada operations.
“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,” said Peter Wong, Chairman of the Board of The HSBC.
Rajnish Kumar is also currently a Director of India’s Lighthouse Communities Foundation, an independent Director of Larsen & Toubro Infotech, a senior advisor of Baring Private Equity Asia Pte. Ltd in Singapore and an advisor of Kotak Investment Advisors Ltd in Mumbai.
Rajnish Kumar is an Indian banker. He held the position of Chairman of the State Bank of India. He became chairman of the State Bank of India on 7 October 2017 and his three-year term ended on 6 October 2020
He joined SBI as a Probationary officer in 1980. He has served as Managing Director (National Banking Group), a position he was given on 2 November 2015, and the Managing Director (Compliance & Risk) of SBI.
He also cracked the Certified Associate of Indian Institute of Bankers of Indian Institute of Banking and Finance.
Previously, he also headed the SBI Capital Markets Limited (the Merchant Banking arm of State Bank of India) as Managing Director and Chief Executive Officer, prior to becoming Managing Director in SBI
