HSBC makes strategic moves

India chairperson Naina Lal Kidwai joins the bank's board, while Peter O'Malley, Eugene Tan and Anne Kao strengthen the coverage team.

Naina Lal Kidwai, who currently oversees HSBC’s investments in India, will join the HSBC board effective October, subject to regulatory approvals from the Hong Kong Monetary Authority.

“Naina’s appointment to The Hongkong and Shanghai Banking Corporation board is a reflection of the growing importance of India in our emerging markets strategy,” said Michael Geoghegan, HSBC group chief executive officer and chairman. “We recently announced our third major investment in the country in the last two years and see a range of growth opportunities in areas of strength for HSBC, including in insurance and in serving businesses that trade internationally.”

Last month HSBC acquired the commercial and consumer divisions of the...

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