HSBC on Monday said it will appoint Jayant Rikhye, as its India chief executive officer with effect from December 1, 2017. Rikhye, who will take over the reins from the incumbent Stuart Milne, is currently Hongkong and Shanghai Banking Corporation’s head of strategy for the Asia-Pacific region. Rikhye joined the bank’s India operations in 1989 and his last assignment included being the international head for Asia-Pacific.
According to the HSBC statement, Rikhye has worked in a number of countries and territories in a variety of functions, including corporate banking in Taiwan, institutional fund services in Hong Kong and head of securities services for the Middle East and North Africa. In 2016, India was the third biggest contributor to the group’s profits.
“Jayant brings with him a vast experience of leading international banking operations in Asia. I am confident he will be able to take the bank’s India operations to the next level of development. I would like to thank Stuart for his significant contribution during his five years in India,” said Peter Wong, HSBC deputy chairman and CEO.