HSBC's Naina Lal Kidwai to retire on Dec 31

After a 13 year stint with the British lender, HSBC India head Naina Lal Kidwai will retire by the end of this year, the bank said today. Kidwai, who had joined the bank from Morgan Stanley, has been working as the chairman of HSBC India and executive director on the board of HSBC Asia-Pacific. "Having reached retirement age, it is time for me to move to different pursuits," 58-year-old Kidwai was quoted as saying in a statement by the bank.

HSBC Asia-Pacific's chief executive Peter Wong said: "During this period, she has served HSBC with distinction in a number of senior roles." Hinting at a deeper association with the non-profit sector in her retirement, Kidwai said she intends to devote time for causes like women empowerment, water and sanitation. Kidwai joined the bank as Vice Chairman and Managing Director at HSBC Securities and Capital Markets in 2002 and was appointed as group general manager in 2006.

She took over as chief executive of HSBC India in 2007 and as Chairman of HSBC India in 2009. There was no mention of a successor for Kidwai in the statement.