People Moves
BofA Merrill Lynch India Head Returns

Bank of America Merrill Lynch has rehired
Kaku Nakhate as country head of India.
Ms Nakhate, who moved to
JP Morgan less than a year ago, takes over from
Kevan Watts, who has tendered his resignation this year. She
held several key positions in DSP Merrill Lynch's global markets
and equities business for over 18 years, the last among which was
as head of global markets for its Indian unit. This was before
she defected to JP Morgan with five other staff in May 2009.
"We are very pleased with the appointment and welcome Kaku back
to the bank," said Mr Watts in a statement. "This is a critical
milestone for our India plans and a continuation of our long-term
commitment to India."
The South Asia country has been experiencing a rebirth of
international interest after several researchers, the Capgemini
and Merrill Lynch study included, revealed its strong potential
to be a global wealth powerhouse, alongside China. BofA Merrill
Lynch is bent on not being left behind.
Ms Nakhate's return to the company could spur a similar move
among the employees she took with her when she left.