According to sources familiar with the situation, Anita Mishra of HSBC Holdings Plc will move to London to take on the role of global head of corporate sales. Previously, she held the position of head of India markets in Mumbai.
Hiren Sanghavi will replace her as the head of securities markets and services in India. Sources who wished to remain anonymous reported that Mishra will relocate in the coming days and will report to the global head of markets and securities services. These changes were confirmed by an HSBC representative.
The personnel change occurred after Rahul Badhwar left HSBC to join JPMorgan Chase & Co. earlier this year. According to Mishra's LinkedIn profile, she has worked at HSBC for over 16 years.
Sanghavi, who is currently the head of trading at HSBC India, has been with the British bank since 2005, according to his LinkedIn profile. Mishra and Sanghavi did not respond to calls or messages requesting comment on the situation.
HSBC is a major player in the Indian debt markets. It was recently reported that the bank placed no less than $3 billion in bonds after receiving significant inflows during the country's recent capital raising windows. The bank surpassed global competitors in attracting funds under this program.
Global interest in India's $1.3 trillion sovereign debt market has been growing in recent years, and the country is included in several international emerging market bond indices. According to the clearing house, foreign purchases of index bonds increased by $6.5 billion for the current year.