HSBC names Jayant Rikhye its India CEO
23 Oct 2017 5:35 PM GMT
Mumbai: British banking major HSBC on Monday said its head of strategy for the Asia-Pacific region, Jayant Rikhye, will be taking over as the India chief executive from the incumbent Stuart Milne.
Milne served as the country head for five years, during which the bank took decisions like nearly halving its retail branch presence and also exited several businesses like private banking and retail broking, leading to some job losses.
In 2016, India was the third biggest contributor to the group's profits. Rikhye joined the bank in 1989, in the India operations, and his last assignment also included being head of international for Asia-Pacific. "Jayant brings with him a vast experience of leading international banking operations in Asia. I am confident he will be able to take the banks India operations to the next level," said HSBC deputy chairman and CEO Peter Wong.
Next Story
