HSBC India has bolstered its premier wealth management offering with the appointment of Gannesh Bharadhwaj as head of personal financial services.

Bharadhwaj joined the company in 2002 and has considerable experience in the cards and consumer assets divisions. Prior to that, he was based in the US, where he worked as managing director of the prime cards business for HSBC.

In his new role, he will be responsible for the bank's premier and advance propositions, wealth management, liabilities, consumer assets and NRI business and distribution networks. He takes over from Rajnish Bahl, who has been named regional head of distribution for the Middle East and North Africa.

HSBC is stepping up its India operations especially with the country now ranked as having one of the most number of untapped high net worth individuals in the world.

According to the latest Merrill Lynch and Capgemini study on the world's wealthy, Asia's millionaires are now richer than Europe's, with India leading the pack. The South Asian country reportedly had 1,26,700 people with a net worth of over $1 million in 2009, compared to 84,000 in 2007.