RBI approves Vikram Sahu’s appointment as India CEO of Bank of America

The Reserve Bank of India (RBI) has approved the appointment of Vikram Sahu as the chief executive officer (CEO) of Bank of America NA in India (BANA India). Sahu succeeds Kaku Nakhate, who held the position for nearly 15 years.

It is understood that Sahu has already assumed office. Sahu’s appointment as CEO is in addition to his current responsibilities as India Country Executive, December 3 internal memo, which was reviewed by Moneycontrol, said.

“Since assuming the overall leadership of our India franchise earlier this year, Vikram has been focused on guiding our country leadership team (CLT), focusing on governance and regulatory matters, meeting key clients, and reinforcing the bank’s Responsible Growth approach,” said the memo that announced his appointment as India CEO.

“As CEO of BANA India, he will chair the entity's local management team, while remaining a member of our Asia Pacific Executive committee and chair of the India CLT. He will continue to have oversight of our strategic growth plan,” the memo added.

Sahu, who was previously the global head of equity research, will report into Jin Su, president of Asia Pacific.

⁠Nakhate will move into to a new role — chair, India.

Nakhate transition was to ensure that the bank continues to keep its relationship intact and strong with some of its key, longstanding clients, they said.

“Kaku Nakhate will become the chair, India with a focus on deepening relationships with key clients of the India franchise,” the memo said.