HSBC Holdings said on Monday it appointed Hitendra Dave as the chief executive officer of its India branch effective June 7.
Dave succeeds Surendra Rosha, who moved to Hong Kong as the co-chief executive of HSBC, Asia-Pacific, after being in the Indian branch for three years, the bank said.
Dave, who previously headed global banking and markets of HSBC India, worked for almost 30 years in the Indian financial markets. He joined HSBC in 2001 in the global markets business.
“I am confident that under Dave’s leadership we will maximise the opportunity that lies ahead. I look forward to working with him as we continue to build on the momentum of the India franchise, into a higher trajectory of growth,” Surendra Rosha said.
Dave is a postgraduate in Business Administration and holds a degree in economics from Delhi University.
HSBC India reported a profit before tax of $1.024 billion in 2020. Its Indian branch is the third-largest contributor to its profits, with Hong Kong and Mainland China being the top two contributors, the bank said.