BofA’s Big Bet on India! Can Satish Arcot Revive Its Investment Banking Fortunes?

Image Source: CNBC TV18

Bank of America has named Satish Arcot, a seasoned banker from JPMorgan Chase, as the new head of capital markets for India. Arcot, who has over two decades of experience in financial services, will join the bank as a Mumbaibased managing director later this year.

Key Highlights:

Strategic Appointment: Arcot’s hiring is part of BofA’s efforts to rebuild its domestic investment banking team after recent leadership changes.
Industry Expertise: He previously served as Executive Director at JPMorgan, specializing in equity capital markets and corporate finance.
BofA’s India Expansion: The bank has been strengthening its leadership, with Vikram Sahu appointed as India Country Head and Mandar Donde leading investment banking operations.
Market Positioning: BofA ranked seventh in equity capital market advisory in India in 2024, aiming to regain its foothold in the competitive landscape.

Arcot’s appointment comes as BofA looks to reassert its presence in India, following the departure of three senior dealmakers last year amid alleged misconduct tied to stock offerings. The bank, which has operated in India since 1964, provides investment banking services to corporates, financial institutions, and government entities.

With Arcot at the helm, BofA is expected to strengthen its capital markets strategy, focusing on equity advisory and dealmaking in India’s fastgrowing financial sector.

Source: CNBC TV18, Private Banker International