Bank of America India Head Kaku Nakhate Steps Down After 15 Years

Vikram Sahu to Take Over as New India Country Head

Bank of America Corp. is undergoing a major leadership transition in India as Kaku Nakhate steps down from her role as India Country Head after 15 years. According to an internal memo seen by Bloomberg News, the bank has appointed Vikram Sahu, currently Head of Global Equity Research, as her successor.

Sahu, who has been leading equity research from New York since 2022, will relocate to India in the second quarter. However, he will assume the position of India CEO only after regulatory approvals.

Nakhate to Continue in a Senior Advisory Role

While stepping down as India Country Head, Nakhate will continue with Bank of America to focus on senior client relationships in the Indian business. She will remain CEO of BANA India—the bank’s entity in the country—until Sahu formally takes charge.

A Bank of America spokesperson declined to comment on the leadership changes.

Leadership Change Follows Internal Investigation

This leadership transition comes amid a period of scrutiny for Bank of America in India. The firm recently moved on from an internal investigation into alleged misconduct related to stock offerings, which resulted in three India-based bankers exiting the company last year, as reported by Bloomberg.

While the bank has not officially linked the leadership change to the inquiry, the timing raises questions about its broader strategy and compliance measures in the Indian market.

Who is Vikram Sahu?

Vikram Sahu has had a distinguished career in global finance. He has been with Bank of America for several years, most recently leading global equity research from New York since 2022. Before that, he worked in Hong Kong with the firm, giving him extensive experience in Asian markets.

His appointment signals Bank of America’s focus on strengthening its equity research and investment banking business in India, as the country emerges as a key player in global financial markets.

Kaku Nakhate’s Legacy at Bank of America India

Kaku Nakhate has been at the helm of Bank of America’s India operations since 2010. Over the years, she has played a crucial role in expanding the bank’s footprint, strengthening corporate relationships, and navigating complex regulatory environments.

Under her leadership, Bank of America has established itself as a key player in India’s investment banking, corporate banking, and capital markets sector. Even as she transitions out of the country head role, her continued association with the firm underscores her strategic importance to Bank of America’s India business.

India’s Growing Importance for Global Financial Firms

India has become one of the most attractive markets for global investment banks, with its rapidly growing economy, deepening capital markets, and increasing foreign institutional participation.

With strong GDP growth forecasts, rising corporate activity, and a surge in foreign investments, global banks, including Bank of America, JPMorgan, and Goldman Sachs, have been ramping up their India operations.

Sahu’s appointment comes at a pivotal time, as Bank of America seeks to strengthen its India strategy and tap into the country’s growing financial sector opportunities.