J.P. Morgan Chase Bank India CEO Prabdev Singh reportedly stepped down from his position and is leaving the bank about one-and-a-half years into a three-year term.
Singh received regulatory approval in January 2023 for a three-year term, Bloomberg reported Monday (June 24).
He joined J.P. Morgan in 2010 and replaced Madhav Kalyan as CEO of the bank in India in October 2022 after Kalyan was named head of payments for Asia Pacific, according to the report.
When Kalyan became head of payments for Asia Pacific, he succeeded Sridhar Kanthadai, who moved into the role of co-head of Global Payment Rails and Payment VAS.
“Madhav’s appointment to this important role is another great example of internal mobility and the strength of talent we have at the firm,” J.P. Morgan said in a statement at the time. “He joined J.P. Morgan in 2009 as head of Corporate Banking for India and CEO of J.P. Morgan Chase Bank India before becoming senior country officer (SCO) for India at the beginning of 2021.”
Pranav Chawda will expand his current responsibilities as head of commercial banking for India to become the head of India Corporate Banking, the Monday Bloomberg report said.
In another executive change at J.P. Morgan, it was reported June 3 that Takis Georgakopoulos, the banking giant’s global head of payments, was leaving the firm to pursue other ventures.
Georgakopoulos headed that division since 2017 and is credited with expanding its payment business.
On Thursday (June 20), Fiserv announced that Georgakopoulos will join the company, effective Sept. 3, and serve as a senior advisor, executive vice president and a member of the management committee.
Before his new role at Fiserv was announced, Georgakopoulos wrote in a post on LinkedIn that he had decided to pursue an opportunity outside of J.P. Morgan.
“It is never easy to do, but after 17 years at J.P. Morgan I decided to pursue a very exciting opportunity outside the firm (to be announced in due course),” he wrote in the post.
His departure came at a time when J.P. Morgan Chase’s board is planning for an orderly CEO transition in the medium term as Jamie Dimon has held that position for 18 years and is one of several financial CEOs whose names have been mentioned as potential candidates for senior roles in government.
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