Kaustubh Kulkarni, new head of JP Morgan India

18 Oct 2022 , 08:20 AM

To replace Madhav Kalyan, who would assume a larger role in the Asia Pacific area, JP Morgan India promoted Kaustubh Kulkarni to the position of chief of India operations, the bank stated in an internal memo of which ET has a copy.

Kalyan will lead the payments division of the US bank, and Kulkarni will serve as its new senior country officer for India.

Kalyan will prevail. Last month, Sridhar Kanthadai made the announcement that he had been named co-head of Global Payment Rails. The current CEO of India has around 30 years of expertise in the banking and financial services industries. As head of corporate banking for India, he joined the firm in 2009.

The international bank wants to expand its presence in local corporate financing and mergers and acquisitions as India’s economy grows at the quickest rate in the midst of a dire situation for the rest of the world.

For 24 years, Kulkarni has been a rainmaker, during which time he established a powerful, top-tier investment banking operation in India.

He is expected to oversee local governance and ensure that all parties are involved. JPM has taken engaged in high-value equity deals while he has been its leader.

In addition to his existing position as head of corporate banking, renowned banker P D Singh will take over as CEO of JP Morgan Chase Bank in India. Till the Reserve Bank of India authorises his nomination, he will still continue to act as the “interim CEO.”

According to market sources, Singh, who joined JP Morgan in 2010, is well-known for his network of significant corporations. Under his leadership, JP Morgan took involved in a number of significant overseas loan and bond transactions.

Navin Wadhwani was appointed by the bank to lead investment banking in India. Wadhwani arrived with a wealth of merger and acquisitions knowledge. At Reliance Industries, one of the biggest conglomerates in India, he oversaw the merger and acquisition vertical for ten years in his prior position. Prior to that, he worked as a managing director for the regional branch of an international investment banking company, Rothschild India.

Vineet Mishra will take over as the single head of investment banking for Southeast Asia as a result of Kulkarni’s new position.

Mishra will answer to India’s new senior country officer. Mishra has been working in investment banking for more than 20 years.

Beginning on November 1 of this year, all adjustments will be implemented.

For feedback and suggestions, write to us at [e-mail]