JPMorgan India Bank CEO Prabdev Singh quits before end of term: Report

Prabdev Singh, chief executive officer of JPMorgan Chase & Co.’s bank in India, has stepped down before the end of his term.

Pranav Chawda, head of commercial banking for India, will expand his current responsibilities to become the head of India Corporate Banking and can confirm that PD Singh is leaving the firm, a JPMorgan representative said by email in response to queries from Bloomberg News.

Singh, popularly known as PD, had received regulatory approval in January 2023 for a three-year term as CEO of JPMorgan Chase Bank India. He had replaced Madhav Kalyan who — in October 2022 — 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 17 years ago. JPMorgan has four commercial bank branches in the country, data on its website shows. It has four branches including in Delhi and Mumbai.

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