HSBC pick Aussie for India job
(17 April 2009 – Australia) HSBC’s chief executive in Australia has been chosen to lead HSBC’s growing business in India.
HSBC has appointed Stuart Davis, currently Chief Executive Officer of HSBC Bank Australia, as the Chief Executive Officer of the HSBC Group in India, effective immediately.
As part of the reshuffle, the bank appointed Naina Lal Kidwai, currently a Group General Manager and Country Head of HSBC in India, to the new role of Chairman, HSBC India.
Sandy Flockhart, Chief Executive Officer of HSBC globally, said that the appointments reflect the growing significance of India in HSBC’s global growth and as part of the bank’s strategic focus on emerging markets.
The new roles formalise HSBC in India into the classic CEO and Chairman roles, away from the country head role previously held by Naina Lal Kidwai.
Stuart Davis has been Chief Executive Officer of HSBC Bank Australia since February 2002. Prior to this, he was Chief Executive Officer of HSBC Taiwan from 1999 to 2002, and Managing Director of HSBC Bank Australia from 1996 to 1999.
Davis has been at the global bank since 1981, where he worked in the investment banking arm of the Australian business.
HSBC in India has expanded significantly in the past five years, with pre-tax profit of US$33 million in 2004 rising to over US$666 million in 2008. HSBC employs over 37,000 people in India, constituting over 11 percent of the bank’s total workforce globally.
As part of the reshuffle, the bank appointed Naina Lal Kidwai, currently a Group General Manager and Country Head of HSBC in India, to the new role of Chairman, HSBC India.
Sandy Flockhart, Chief Executive Officer of HSBC globally, said that the appointments reflect the growing significance of India in HSBC’s global growth and as part of the bank’s strategic focus on emerging markets.
The new roles formalise HSBC in India into the classic CEO and Chairman roles, away from the country head role previously held by Naina Lal Kidwai.
Stuart Davis has been Chief Executive Officer of HSBC Bank Australia since February 2002. Prior to this, he was Chief Executive Officer of HSBC Taiwan from 1999 to 2002, and Managing Director of HSBC Bank Australia from 1996 to 1999.
Davis has been at the global bank since 1981, where he worked in the investment banking arm of the Australian business.
HSBC in India has expanded significantly in the past five years, with pre-tax profit of US$33 million in 2004 rising to over US$666 million in 2008. HSBC employs over 37,000 people in India, constituting over 11 percent of the bank’s total workforce globally.
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