Kumar will also be a member of the bank’s audit committee and risk committee.
Kumar retired as chairman of State Bank of India (SBI) in October 2020 after a 40-year career.
“Rajnish’s depth and breadth of experience across India’s financial industry will be an invaluable addition to the Board of the Group’s flagship Asian entity as HSBC directs its focus towards the region. The opportunities presented by its 1.4 billion population, 18 million non-resident Indians and 40,000 MNCs make India a key component of HSBC’s growth strategy,” said Peter Wong, chairman of HSBC Asia.
Kumar is currently a director of India’s Lighthouse Communities Foundation, an independent director of Larsen & Toubro Infotech Limited, a senior advisor of Baring Private Equity Asia Pte. Ltd in Singapore and an advisor of Kotak Investment Advisors Ltd in Mumbai.