Naina Lal Kidwai to join HSBC Asia-Pacific board

HSBC on Monday announced that the country head for India, Naina Lal Kidwai, would be joining its Asia-Pacific board. Kidwai will take a seat on the board of Hongkong and Shanghai Banking Corporation (HSBC), which is chaired by Michael Geoghegan, Group Chief Executive of HSBC Holdings.

Another Indian, Zia Mody of law firm AZ&B Partners, already has a seat on the Board.

Infosys founder N R Narayana Murthy is on the board of the parent company, London-registered HSBC Holdings.

Kidwai will join the board with effect from October 1, subject to regulatory approval from the Hong Kong Monetary Authority, the bank said in a statement.

“Naina’s appointment to HSBC Board is a reflection of the growing importance of India in our emerging markets’ strategy,” HSBC Group Chief Executive Michael Geoghegan said. “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.”

Kidwai is also a non-executive director on the board of Nestle SA. Prior to 2006, she was deputy chief executive officer of HSBC India and managing director and vice-chairman of HSBC Securities and Capital Markets India Private Limited.

From 1994 to 2002, Kidwai was at Morgan Stanley as vice-chairman of JM Morgan Stanley and head of the investment bank in India.