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Vikram Sahu has been appointed as Bank of America’s new country executive for India, succeeding Kaku Nakhate, who has led operations for 15 years. Sahu, currently head of global equity research in New York, will relocate to India in the second quarter, while Nakhate will continue as CEO of Bank of America NA India until Sahu's appointment is approved.Bank of America reported a significant increase in fourth-quarter 2024 profits, with net income more than doubling to $6.7 billion, driven by a 13% rise in trading revenue and a 44% increase in investment banking fees. Loans outstanding grew by 4% to nearly $1.1 trillion, and consumer spending on debit and credit cards rose by 5%.
Kaku Nakhate is stepping down as Bank of America's India country head after 15 years, though she will continue to play a key role as CEO of BANA India, focusing on senior client relationships. Vikram Sahu, currently leading global equity research, will succeed her and relocate to India in the second quarter, pending regulatory approvals.
Bank of America is set to appoint Vikram Sahu as the new country head for its India operations, replacing Kaku Nakhate, who has led the bank's India business for 15 years. Sahu, currently the head of global equity research in New York, will relocate to India in the second quarter to take on this role. Nakhate will continue as CEO of the India regulated entity until Sahu's appointment is approved by the Reserve Bank of India.
Bank of America is set to appoint Vikram Sahu as the new country executive for its India operations, succeeding Kaku Nakhate, who has led the bank in India for 15 years. Sahu, currently heading global equity research in New York, will relocate to India in the second quarter to enhance the bank's presence in the rapidly growing market. Nakhate will remain CEO of the India regulated entity until Sahu's appointment is approved by the Reserve Bank of India.
Bank of America is set to appoint Vikram Sahu, currently head of global equity research, as the new head of its India operations, succeeding Kaku Nakhate, who steps down after 15 years. Sahu is expected to relocate to India in the second quarter of 2025, while Nakhate will continue as CEO of BANA India until regulatory approvals are secured. This leadership change comes amid a pivotal time for the bank, following an internal probe into alleged misconduct.
Bank of America is set to appoint Vikram Sahu as the new country executive for its India operations, replacing Kaku Nakhate, who has led the bank in India for 15 years. Sahu, currently head of global equity research in New York, will relocate to India in the second quarter to take on his new role, while Nakhate will continue as CEO of the India regulated entity until Sahu's appointment is approved by the Reserve Bank of India.
Bank of America is set to appoint Vikram Sahu as the new country executive for its India operations, replacing Kaku Nakhate, who has led the bank in India for 15 years. Sahu, currently head of global equity research in New York, will relocate to India in the second quarter to take on his new role. Nakhate will continue as CEO of the India regulated entity until Sahu's appointment is approved by the Reserve Bank of India.
Kaku Nakhate, the executive leading Bank of America’s operations in India, is set to depart after 15 years with the firm. This transition marks a significant change for the bank's presence in the Indian market, as noted in a memo obtained by Bloomberg News.
Vikram Sahu, currently leading global equity research at Bank of America, will become the new country executive and CEO for India, succeeding Kaku Nakhate, who has served for 15 years. Sahu will relocate from New York and assume his role pending regulatory approvals, overseeing the India leadership team and strategic growth plans. Nakhate will shift her focus to client relationships while continuing as CEO until Sahu's appointment is finalized.
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