HSBC India names Ambedkar as MD, head of pvt banking

New chief takes over from Ramnath Krishnan, who moves tio HSBC Malaysia as chief risk officer

HSBC India today said it has appointed Shantanu Ambedkar as the managing director and head of its private banking business in the country. His appointment is effective July 28, 2012.

Ambedkar has taken charge from Ramnath Krishnan, who moved to HSBC Malaysia as the chief risk officer.

"We at HSBC believe that the demand for private banking services in India will continue to increase as the economy expands. With our global footprint, HSBC is uniquely positioned to assist our wealthiest clients to invest and manage their wealth. I am confident that Shantanu will ably guide our private banking business to deliver top quality service to our customers in India using his expertise and experience," Stuart Milne, chief executive officer of HSBC in India, said in a statement.

Ambedkar joined the HSBC Group in 1994 and has experience across various businesses including corporate sales, interest rates trading, balance sheet management and institutional sales. Prior to this appointment he was managing director and head of institutional sales for the global markets business in India.

He is a mechanical engineering graduate from Pune University and done his masters in business administration from Mumbai University.