JP Morgan elevates Chase Bank India CEO

JP Morgan has elevated Madhav Kalyan, CEO and MD, J P Morgan Chase Bank India, to a regional role as the head of corporate banking in South and South East Asia as its aims to capitalise on the growing opportunities in the region.This will be in addition to his current responsibilities as head of corporate banking in India. J P Morgan’s corporate banking heads in Malaysia, Thailand, Philippines, Indonesia, Vietnam, Bangladesh and Sri Lanka will report to Kalyan, two people familiar with the matter told ET.An email sent to JP Morgan India remained unanswered until the publication of this report.Kalpana Morparia, chief executive officer, South and South East Asia, JP Morgan sent an internal communique informing the promotion,” said one of the persons cited above.With this move JPMorgan’s India chapter has gained more clout in its Asia business. More than two years ago, JP Morgan elevated its India chief executive officer Kalpana Morparia to a regional role, overseeing six countries in addition to the three that were already under her ambit.With India being a market with huge growth potential and following Madhav Kalyan’s elevation,JP Morgan has also made some high-level changes in the corporate banking division as the largest US bank sees India with huge potential.Veteran banker P D Singh has been promoted as the head of the team, which serves local corporate clients. Rohit Khatri, a senior banker hired from Citibank, will now head the MNC (Multinational) clients’ division.Guhaprasath Rajagopal will be heading treasury Services as the bank aims to to capitalize on the growth opportunities, catered by Narendra Modi-led government.Brijen Puri, the managing director and head of currency and emerging markets, India, has now shifted to Singapore with additional responsibilities to look after other markets of South East Asian countries.In the past few months the India investment banking team also effected senior level changes.While Kaustubh Kulkarni, the head of India investment banking, assumed an additional role of head of industry for power & utilities industry segments for Asia Pacific region, Ravi Shankar, an ace banker, joined J.P. Morgan as managing director in investment banking from Deutsche Bank.He now reports to Kulkarni. Abhinav Bharti is the head equity capital markets for India replacing Vinay Menon, who left to pursue other career opportunities.Nitin Maheshwari previously in corporate financing now heads the merger and acquisition vertical.Earlier in April, JPMorgan Chase & Co, the largest US bank, reported a 35% surge in its quarterly profit to an all-time high.

from The Economic Times https://ift.tt/2yMj3Zj