Mumbai: HSBC Holdings Plc on Monday inducted Naina Lal Kidwai, country head of HSBC India to its Asia-Pacific board.
“Kidwai, who has been with HSBC since 2002 and is country head of HSBC in India, will join the board from 1 October 2010, subject to regulatory approval from the Hong Kong Monetary Authority,’’ said the bank in a media statement.
Michael Geoghegan, chairman of The Hongkong and Shanghai Banking Corp Ltd and group chief executive of HSBC Holdings Plc, said, “Naina’s appointment to The Hongkong and Shanghai Banking Corp board is a reflection of the growing importance of India in our emerging markets strategy.’’
HSBC, India’s second-largest overseas lender by assets in July agreed to buy Royal Bank of Scotland Group Plc’s Indian commercial and consumer division. The lender also bought IL&FS Investsmart Ltd. in 2008 to expand brokerage services, and offers life insurance in the nation through a joint venture.
Prior to joining HSBC in 2002, Kidwai worked with Morgan Stanley and ANZ Grindlays.