Sandeep Uppal has been named Asia Pacific head of international subsidiary banking (ISB) at HSBC.
He will assume the role on June 1 this year, and will be responsible for managing the local subsidiaries of the bank’s multinational clients on a regional basis. Uppal will report to Stuart Tait, regional head of commercial banking, and Cate Luzio, who heads the ISB division globally.
Uppal replaces Ajay Sharma, who recently departed the role to become regional head of global trade and receivables finance. His most recent role within HSBC was head of commercial banking for India.
Rajat Verma will lead this practice in India, continuing a 19-year career with HSBC. Verma has held a number of senior roles in the corporate banking space, and will report to Tait as well as HSBC India CEO Stuart Milne.
“International companies wanting to manage their subsidiaries in Asia Pacific come to HSBC for our extensive geographic presence and our local expertise. With over 25 years of banking experience in India, the Philippines, the UK, Hong Kong and Mauritius, Sandeep brings a wealth of experience that will be invaluable to our growth strategy within the region,” Tait says.