RBI Clears Pranav Chawda as CEO of JP Morgan Chase Bank India
The unit of American banking major JP Morgan Chase said it has received approval for Pranav Chawda appointment as Chief Executive Officer (CEO) of JP Morgan Chase Bank India and the new Managing Director, reports say. Over two years into the company, having joined in 2019, Pranav Chawda led commercial banking, and now he will add corporate banking under his authority scope.
The move to combine commercial and corporate banking in India aims to enhance client experience and forms part of a larger plan that was announced by the bank earlier this year. JP Morgan's country officer and vice-chairman for Asia Pacific, Kaustubh Kulkarni said that it is the good market knowledge of Chawda which puts him in the best position for further growth of the business of corporate banking in India.
Chawda first joined the firm as a head of client banking and specialized industries for midsized companies around India.
About JP Morgan Chase Bank India
Our physical presence in India dates to 1945 when predecessor Chase National Bank opened a representative office in Mumbai. Today, we provide clients in India a comprehensive range of corporate and investment banking services. Our centers in Mumbai, Bengaluru and Hyderabad support operations globally.
We have operated in the Asia Pacific region for over 150 years, and today are present across 17 markets in the region. Clients rely on our global strength, local expertise and leadership across our lines of business.
In Asia Pacific, we are committed to helping promote economic growth and economic inclusion through our key philanthropic initiatives in the areas of workforce readiness, small business development and financial capability. Our investments aim to increase the number of quality jobs created for the underserved individuals and communities, helping small businesses become more sustainable, as well as assisting marginalized people in gaining access to affordable financial products so that they can become more financially secure. This shared commitment to the community drives our Foundation’s giving and employee engagement and volunteering activities across the region.
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in 2020, JPMorganChase will deploy $2 billion in philanthropic capital around the world by 2025. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.
