Mumbai: HSBC has appointed Hitendra Dave as the interim chief executive officer of HSBC India with effect from today. Dave’s formal appointment as the CEO is subject to regulatory approval.
Dave succeeds Surendra Rosha who will be moving to Hong Kong as the co-chief executive of HSBC Asia-Pacific.
Dave, who is formerly the 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.
Dave joined HSBC India in 2001 in the Global Markets business and has risen through the ranks to his current role as head of global banking & markets business, the dominant contributor to HSBC India’s PBT over the years.
“I cannot think of a more qualified person to take over the mantle of leadership at HSBC India. We have a clear strategy, and the investment commitment from the Group. I am confident that under Dave’s leadership we will maximise the opportunity that lies ahead,” said Rosha.
Dave is a post graduate in Business Administration and holds a degree in Economics from Delhi University.
HSBC India had reported a profit before tax of $1.024 billion for fiscal year 2020. India is the third largest contributor to HSBC’s Group profits with Hong Kong and Mainland China being the top two contributors.
