Rajnish Kumar has been appointed as Independent Non-Executive Director on the board of Asian entity of Hongkong and Shanghai Banking Corporation Ltd (HSBC). He had retired as Chairman of State Bank of India (SBI) in October 2020 after a career spanning four decades. Kumar has an impressive experience in financial markets and global businesses due to his background in SBI in Canada and UK. He will soon be a member of HSBC’s risk committee and audit committee.
Kumar is currently serving as an Independent Director of Larsen & Toubro Infotech Limited, Director of India’s Lighthouse Communities Foundation, Advisor of Kotak Investment Advisors Ltd. in Mumbai and a Senior Advisor of Baring Private Equity Asia in Singapore. Peter Wong, chairman of HSBC Asia said that depth and breadth of experience of Kumar across India’s financial industry will be invaluable to the Board of the Group’s flagship Asian entity as HSBC directs its focus towards the region. He also mentioned that the opportunities presented by India’s 1.4 billion population, 18 million non-resident Indians and 40,000 MNCs make the country a vital component of HSBC’s growth plans.