HSBC has named a new retail banking and wealth management head for India.

Sanjiv Sud takes over from Gannesh Bharadhwaj, who resigned from the company in May 2013 due to personal reasons after serving for two years. Sud was previously the head of the bank's consumer assets business in Asia-Pacific based in Hong Kong. He joined the HSBC Group in India in 1991 and has assumed various roles across the retail banking and wealth management division.

In his new role, he will be responsible for the firm's premier and advantage propositions, wealth management, liabilities, consumer assets, non-resident business and distribution network.

HSBC has a growing retail banking and wealth management business in India. In 2012, the company posted a pre-tax profit of $41 million, after reporting losses for the previous two years. It has 50 branches in the country.