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Mumbai: The Hongkong and Shanghai Banking Corporation (HSBC) announced on Monday that it has appointed former State Bank of India (SBI) Chairman Rajnish Kumar as an independent non-executive director.
Kumar retired in October 2020 after a 40-year career as India’s largest lender. In addition to his extensive background in regulatory agencies, investors and Indian companies, Kumar has extensive experience in global business and financial markets from his work at SBI in the United Kingdom and Canada. HSBC said in a statement that during his tenure as chairman of SBI, he also led the strengthening of banks’ digital banking platforms.
Peter Wong, Chairman of the Board of Directors of The Hongkong and Shanghai Banking Corporation, said: With a population of 1.4 billion, 18 million non-resident Indians and 40,000 multinational corporations, India has become a key element of HSBC’s growth strategy. “
Kumar is also a member of HSBC’s Audit and Risk Committees. Prior to resigning from SBI, Kumar was also Chairman of the Bank of India Association, Chairman of the Bank of India Financial Research Institute, and Director of the Bank of India’s Export-Import Bank and Export Credit Guarantee Corporation. He is currently a board member of the Lighthouse Community Foundation in India, an independent director of Larsen & Toubro Infotech Limited, and a senior advisor to Baring Private Equity Asia Pte. Advisor to Ltd in Singapore and Kotak Investment Advisors Ltd in Mumbai.
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