Pranav Chawda has become the new chief executive officer (CEO) of JP Morgan Chase India. Chawda has been appointed as the CEO for three years.
Chawda currently heads the commercial banking unit of the US-based JP Morgan and has become the CEO after the approval of the Reserve Bank of India (RBI), Bloomberg News reported on Wednesday. Prabhdev Singh, the former CEO, stepped down in June before the end of his term.
Chawda’s experience “will enable him to play a pivotal role in driving corporate banking business forward as we explore and capitalize on the numerous opportunities that India presents,” Bloomberg News reported, quoting Kaustubh Kulkarni, the firm’s senior country officer for India and vice chairman for Asia Pacific.
Chawda is a chartered accountant by profession with more than 20 years of experience in the banking sector, according to his LinkedIn profile. He joined Citigroup in 2000 and has experience in sectors such as credit, product, business development, and front-line sales. Chawda has worked for various institutions, including corporate banks, financial Institutions and commercial banks.
In 2019, Chawda joined the commercial banking division of JP Morgan India.
JP Morgan Chase India
JP Morgan Chase made its physical presence in India in 1945 after Chase National Bank, its predecessor, opened its representative office in Mumbai. It currently has offices in Mumbai, Bengaluru, and Hyderabad.
In 1996, JP Morgan entered into a joint venture with ICICI and raised funds in the domestic market for public and private sector clients. The following year, JP Morgan formed a second joint venture with ICICI to offer investment management services in India.
In 2007, JP Morgan launched a commercial bank in India. Following this, it launched its first mutual fund, the J.P. Morgan India Equity Fund.
In 2019, it expanded its commercial banking services for local midcap companies. The investment opened its Hyderabad campus in 2021, which is the largest campus campus in Asia Pacific, according to its website.
JP Morgan launched an international banking unit in GIFT IFSC in Gandhinagar in 2022.
