Bank of America Corp. is witnessing a leadership change in its India business, with Kaku Nakhate, who has led the firm’s operations in the country for over 15 years, stepping down from her role.
The move, confirmed by a memo seen by Bloomberg News, marks the end of a significant chapter for Nakhate, who has been instrumental in expanding the bank’s presence in India since 2010.
Vikram Sahu, who currently heads global equity research at the bank, will succeed Nakhate as the new India country head. Sahu, based in New York, will relocate to India in the second quarter to assume the new position, as outlined in the internal memo.
Despite stepping down from the country head role, Nakhate will continue to play a pivotal part in the firm’s India operations. She will remain as the CEO of BANA India, focusing on developing senior client relationships, while Sahu awaits regulatory approvals for his appointment to that role.
Sahu, who has been leading equity research since 2022, brings a wealth of international experience to his new role, having previously worked with the bank in Hong Kong. His move to India signals a new phase in the bank’s operations as it continues to adapt to the evolving financial landscape in the country.