Bank of America’s India Head Kaku Nakhate said to be leaving position after 15 years

Nakhate will stay with the firm to focus on developing senior client relationships in the India business, according to the memo.

The executive leading Bank of America Corp.’s India business, Kaku Nakhate, is leaving her role after 15 years with the firm, according to a memo seen by Bloomberg News.

The bank has tapped Vikram Sahu, currently head of its global equity research, to succeed Nakhate as the India country head, the memo shows. Sahu will relocate from New York in the second quarter.

Nakhate will stay with the firm to focus on developing senior client relationships in the India business, according to the memo. She will stay on as chief executive officer of BANA India — the Bank of America entity in the country — as Sahu awaits regulatory approvals to be appointed to that role.

A BofA representative declined to comment on the development.

The change of the guard is happening as the bank is moving on from an internal investigation into allegations of wrongdoing involving stock offerings. Three India bankers left the company last year amid that inquiry, Bloomberg News reported.

Sahu has been leading equity research from New York since 2022, and previously worked in Hong Kong with the bank, his LinkedIn profile shows. Nakhate has been the India country head since mid-2010, according to her LinkedIn profile.