JPMorgan India CEO Prabdev Singh Steps Down Before End

Prabdev Singh, popularly known as PD, has stepped down as Chief Executive Officer of JPMorgan India & Co.’s bank in India before the end of his three-year term.

This decision comes less than a year after he received regulatory approval for the position in January 2023.

Transition in Leadership of JPMorgan India:

Pranav Chawda, currently the Head of Commercial Banking for India, will expand his responsibilities to include the Head of India Corporate Banking role.

A JPMorgan representative confirmed this transition via email in response to queries from Bloomberg News.

“PD Singh is leaving the firm,” the representative stated, confirming Singh’s departure.

Singh’s Tenure and Background:

• Appointment: Singh had been appointed CEO in January 2023, taking over from Madhav Kalyan, who was named Head of Payments for Asia Pacific in October 2022.

• Career: A trained engineer, Singh worked for a decade at HSBC Holdings Plc before joining JPMorgan in 2010. He brought significant experience and expertise to his role at JPMorgan India.

JPMorgan Presence in India:

JPMorgan Chase & Co. has a longstanding presence in India, dating back to 1922. The firm began its commercial banking operations around 17 years ago and operates four commercial bank branches in Delhi and Mumbai.

Future Direction:

With Pranav Chawda taking on expanded responsibilities, JPMorgan aims to continue its strategic operations and growth in India’s banking sector. Chawda’s extensive experience in commercial banking will be pivotal in steering the firm through this transition.

JPMorgan’s commitment to the Indian market remains strong. It continues to work to provide comprehensive banking solutions and services to its clients across the country.

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