HSBC adds former JPMorgan banker Kalpana Morparia to board
LONDON, Feb 14 (Reuters) - HSBC has appointed former JPMorgan banker Kalpana Morparia as a non-executive director to its board, the British bank said on Tuesday.
Morparia, 73, most recently worked as Chair of JPMorgan's south and southeast Asia business and spent most of her 45-year banking career in India, HSBC said.
"Kalpana is a very experienced banker, with gravitas and presence. Her deep banking expertise and experience of the Asia region, particularly in India and Southeast Asia, will be an asset to the Board," HSBC chair Mark Tucker said.
Jackson Tai, another former JPMorgan banker and ex-CEO of Singapore's DBS Bank, will step down from the board this year after holding the role since 2016, HSBC also said.
Morparia replacing Tai will mean the lender's board will have 6 female members out of 13, bringing the bank close to an even split at a time of rising scrutiny of diversity among financial firms' boards.
At 46% HSBC's ratio of female directors will just exceed the UK average of 43%, according to data compiled by consulting firm EY.
HSBC reports its annual results on Feb. 21, with investors looking out for signs the Asia-focused lender is delivering on a promise to keep costs under control while lifting returns. (Reporting By Lawrence White, Editing by Iain Withers)
