JPMorgan gets RBI nod for new India chief executive officer Prabdev Singh

JPMorgan gets RBI nod for new India chief executive officer Prabdev Singh: JPMorgan Chase & Co. got approval from India’s central bank to name Prabdev Singh as the lender’s chief executive officer in the country. Prabdev Singh will serve as the lender’s chief executive officer for a three-year term.

Singh had been JPMorgan’s interim CEO since November, replacing Madhav Kalyan who — in October — was named head of payments for Asia Pacific.

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The Wall Street firm, which traces its presence in India back to 1922, started commercial banking operations in the country about 15 years ago. JPMorgan has four commercial bank branches in the country, data on its website show.

Singh, a trained engineer, had worked for a decade at HSBC Holdings Plc before joining JPMorgan in 2010, according to his Linkedin profile.