Jayant Rikhye to take charge as new HSBC India CEO

He will succeed Stuart Milne, who served as CEO for five years

Salil Panchal
Published: Oct 23, 2017 08:18:23 PM IST
Updated: Oct 24, 2017 03:14:36 PM IST

Life is not a template and neither is mine. Like several who have worked as journalists, I am a generalist in my over two decade experience across print, global news wires and dotcom firms. But there has been one underlying theme in each phase; life gave me the chance to observe and tell a story -- from early days tracking a securities scam to terror attacks and some of India's most significant court trials. Besides writing, I have jumped fences to become an entrepreneur, as an investment advisor -- and also taught the finer aspects of business journalism to young minds. At Forbes India, I also keep an eye on some of its proprietary specials like the Rich list, GenNext and Celebrity lists. An alumnus of Xavier Institute of Communications and H.R College of Commerce and Economics in Mumbai, I have worked for organisations such as Agence France-Presse, Business Standard, The Financial Express and The Times of India prior to this.

Jayant Rikhye to take charge as new HSBC India CEOJayant Rikhye will take over as HSBC India CEO from December 1, 2017

Hongkong and Shanghai Banking Corporation (HSBC) Limited on Monday announced the appointment of Jayant Rikhye as the new CEO for the bank's operations in India, with effect from December 1, 2017, subject to regulatory approvals.

Rikhye will succeed Stuart Milne, who served as CEO for five years. Milne will take a three month sabbatical starting January 2018 and his next role at HSBC will be announced in the coming weeks.

Rikhye, who had first joined the HSBC Group in 1999, is currently head of International (Asia-Pacific), responsible for 11 markets in the region. He is also head of strategy and planning, Asia-Pacific.

In an earlier interaction with Forbes India , Milne had highlighted HSBC Group’s rationale behind reducing physical branches in India, a plan that saw fruition under his leadership of India operations at a time when digital banking is picking up here. At the time, he said he was optimistic on HSBC India’s growth, led by cross-border investments. Earlier this year, HSBC India, in a statement, said they were planning to shut 24 of its 50 branches in India. 

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