RBI approves appointment of Prabdev Singh as India head of JP Morgan Chase

JPMorgan Chase & Co. has received approval from India’s central bank to name Prabdev Singh as the lender’s chief executive officer in the country.

The Reserve Bank of India (RBI) last week approved a three-year term for Singh, a JPMorgan spokeswoman said in an emailed reply to Bloomberg Tuesday. An email to the RBI wasn’t answered.

Singh had been JPMorgan’s interim CEO since November, replacing Madhav Kalyan who — in October — was named head of payments for Asia Pacific.

The Wall Street firm, which traces its presence in India back to 1922, started commercial banking operations in the country about 15 years ago. JPMorgan has four commercial bank branches in the country, data on its website show.

Singh, a trained engineer, had worked for a decade at HSBC Holdings Plc before joining JPMorgan in 2010, according to his Linkedin profile.