Bank of America Corp is preparing to name Vikram Sahu as the new country executive for its India operations, according to an internal memo reviewed by Reuters.
Sahu, who currently serves as the head of global equity research and is based in New York, will succeed Kaku Nakhate in the role.
As per the memo, Sahu is expected to relocate to India in the second quarter of the year to take charge of the bank’s India franchise.
Nakhate, who has led Bank of America’s India business for 15 years, will continue to serve as the chief executive officer of the bank’s India-regulated entity until the Reserve Bank of India (RBI) grants formal approval for Sahu’s appointment.
When approached for a statement, a spokesperson for Bank of America in India declined to comment.
