People Moves

JP Morgan Private Bank Hires Three For India Offshore Team

Vanessa Doctor, Asia Correspondent, 18 July 2011


JP Morgan Private Bank continues its Asian hiring spree with the appointment of three executives for its India offshore team.

Kiriti Chauhan steps in as managing director, banker of the India offshore team based in Dubai. Chauhan is from Standard Chartered Bank, where he worked for the last 20 years, most recently as head of origination and client coverage for wholesale banking in Qatar. Before that, he was manager of the local corporate business in the UAE and oversaw the precious metals business of Standard Chartered Bank. 

Also joining is Nisar Sindhi as executive director, banker of the India offshore team in Dubai. He previously managed the ultra high net worth and high net worth business of Citibank's wealth management unit in Dubai. Prior to that, he held a similar capacity at ABN AMRO Private Bank. 

Finally, stepping in as executive director, banker of the India offshore team based in Singapore is Deepak Saluja. Saluja joins from Credit Suisse India, where he was part of the founding and senior leadership team for the wealth management group. He also had a long stint in corporate banking and was director of Standard Chartered Bank's corporate group before being part of the senior relationship team at Citigroup Private Bank.

All three, whose new roles took effect 11 July, report to Rahul Malhotra, the head of South Asia for JP Morgan Private Bank. 

"The India market is a top growth priority for us and the Middle East region is an important component of our global offshore India strategy. Based in Dubai, Kirit and Nisar will focus on the Non Resident Indian market in the Middle East region. Singapore is another important growth market and Deepak will deliver the firm’s investing, wealth transfer, credit and philanthropic services to the ultra high net worth NRI clients in the region," said Malhotra in a statement.

The private bank announced a series of senior hires for Asia over the past months. Most recently, it brought in former RBC managing director Mark Evans to lead its expatriate clients business in Asia, and Salman Haider as MD for Southeast Asia. The company has also noted that it is growing its Asia-based relationship manager count by 70 per cent before the end of 2012. 

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