Former Chairman of State Bank of India (SBI) has been roped in as Hongkong and Shanghai Banking Corporation's (HSBC) Asian entity’s independent Non-executive Director.
He will also be a part of the Audit Committee and Risk Committee of HSBC Asia, which includes the Indian operation of the bank.
After working with SBI for almost 40 year, in October 2020 Kumar retired as the bank’s chief. He joined the bank as a probationary officer in 1980, and is credited with the mega-merger of seven banks with India’s largest lender.
During Kumar's tenure as SBI Chairman, the bank moved ahead with its digital drive through SBI’s YONO platform and consolidated its troubled corporate accounts. The bailout of stressed private lender Yes Bank was one of the biggest challenges during his term.
After completing his tenure with SBI, he took up the role of an advisor with Baring Private Equity Partners India in February 2021. In the same month, Kotak Investment Advisors (KIAL) also announced his appointment as an exclusive advisor for its $1 billion Special Situation Fund.
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