Praveen Gupta appointed MD & CEO at SBI Caps

Mumbai: State Bank of India (SBI), the country’s largest bank, has appointed Praveen Gupta as managing director and chief executive officer (MD & CEO) of its investment banking arm, SBI Capital Markets Ltd, effective 22 June, the bank said in a statement on Tuesday.

Gupta, who was so far deputy managing director and chief financial officer (CFO) at SBI, has been given the charge of the investment banking arm, following the elevation of present MD & CEO Rajnish Kumar as managing director, compliance and risk at SBI, the bank said.

Gupta has risen through the ranks in his uninterrupted 33-year stint with the bank. Earlier, he was CEO of the bank’s Bahrain unit and also headed the bank’s operations in the Middle East and North Africa as regional chief.