Bank of America names Vikram Sahu CEO after RBI clearance

The Reserve Bank of India has approved the appointment of Vikram Sahu as chief executive officer of Bank of America in India, according to an internal memo cited by Business Standard. The decision formalises a leadership transition at the US lender after more than a decade and a half under outgoing CEO Kaku Nakhate.

Sahu had assumed the role of India country executive in June, but the CEO position at Bank of America NA India required regulatory clearance. Nakhate, who led the franchise for 15 years, continued as interim CEO until the central bank completed its review.

Sahu will report to Jin Su, Bank of America’s president for Asia Pacific. The memo said he had already been guiding the India leadership team on governance and regulatory matters, meeting key clients, and reinforcing the bank’s “responsible growth” agenda.

As CEO, Sahu will chair the local management team and retain seats on the Asia Pacific Executive Committee and the India country leadership team. He will also oversee the bank’s strategic growth plan.

Sahu brings more than 25 years of experience to the role, with previous positions across Hong Kong, the United States and Europe. He is a graduate of St. Stephen’s College in Delhi and holds a master’s degree from the US.

Nakhate will transition to the role of Chair, India, where she will focus on deepening relationships with the bank’s key clients. She joined Bank of America in 2010 after earlier stints at JP Morgan and DSP Merrill Lynch.

Bank of America operates in India through three legal entities: Bank of America NA India, BofA Securities India and BA Continuum India.