The New Nation - Internet Edition

FINANCE REPORTER

The Hong Kong and Shanghai Banking Corporation (HSBC) Limited has appointed Mr Sanjay Prakash as the Chief Executive Officer of HSBC in Bangladesh. He will replace Mr Steve Banner, who will move shortly to assume a new role as Head of Strategy and Business Transformation in HSBC's Consumer and Mortgage Lending business in the USA.

Mr Prakash brings with him more than 23 years of experience in financial services. He first joined HSBC in 2001 as the COO of HSBC Asset Management (India) Pvt Ltd. In 2003, he became the first CEO of HSBC's Asset Management business in India.

Commenting on the move, Paul Leech, HSBC Asia Pacific Head of International, said, "We are keen to see the momentum of our growth in Bangladesh continue under Sanjay Prakash. He is an experienced, capable and ambitious executive and part of the increasing number of our regional talents in Asia undertaking senior roles outside their home countries."

Speaking about his appointment, Mr Prakash said, "I am very happy to be in Bangladesh and I am confident that with the excellent team that we have in place and the opportunities in the market, our business will continue to go from strength to strength."

Currently, HSBC has 10 offices and 27 ATMs in Bangladesh, serving over 100,000 customers in the cities of Dhaka, Chittagong and Sylhet.