HSBC appoints Surendra Rosha to take over from ailing CEO Jayant Rikhye

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The Hongkong and Shanghai Banking Corporation today announced the appointment of Surendra Rosha as Chief Executive Officer for HSBC India, subject to regulatory approvals.

Rosha, currently HSBC's Head of Financial Institutions Group (FIG) for Asia-Pacific, will succeed Jayant Rikhye, who is taking a leave of absence for medical reasons, a company statement said.

"His 27 years of experience in financial services makes him ideally suited to leading our bank in India and driving forward our strategy in one of HSBC's key markets," said Peter Wong, Deputy Chairman and Chief Executive of The Hongkong and Shanghai Banking Corporation.

Rosha joined HSBC's Indian operations in 1991. He has worked in multiple roles in forex trading, corporate treasury sales, treasury and capital markets across a variety of countries.

He has experience in global banking and markets including in sales, treasury and capital markets in India during 1991 2005.

He holds a bachelor's degree in commerce from Bombay University and a Master's Degree in Business from the Indian Institute of Management, Ahmedabad, the statement added.