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JP Morgan
American bank JP Morgan has appointed HSBC Group veteran Rahul Badhwar as its senior country officer for India. Sjoerd Leenart, J P Morgan's chief executive for Asia Pacific, made the announcement about Badhwar's appointment. Badhwar replaces Kaustubh Kulkarni, the senior country officer who quit in September to join rival Citigroup. "India is a critical market for our Asia Pacific franchise, and Rahul will play a central role in driving and executing our growth strategy across the country," the internal memo reviewed by PTI said. Badhwar's responsibilities will include getting the firm's entire set of offerings to clients, strengthening governance and controls, and supporting the talent base and community, as per the memo. He will join the firm in July and be based out of Mumbai, it said, adding that Badhwar will report to Leenart and also be a part of the Asia Pacific Management Committee. Badhwar has spent three decades in sales and trading roles at HSBC, and was last based in
President Donald Trump sued banking giant JPMorgan Chase and its CEO Jamie Dimon for USD 5 billion, accusing JPMorgan of debanking him and his businesses for political reasons after he left office in January 2021. The lawsuit, filed in Miami-Dade County court in Florida, alleges that JPMorgan abruptly closed multiple accounts in February 2021 with just 60 days notice and no explanation. By doing so, Trump claims JPMorgan cut the president and his businesses off from millions of dollars, disrupted their operations and forced Trump and the businesses to urgently open bank accounts elsewhere. "JPMC debanked (Trump and his businesses) because it believed that the political tide at the moment favoured doing so," the lawsuit alleges. In a statement, JPMorgan said that it "regrets" that Trump sued them but insisted they did not close the accounts for political reasons. "We believe the suit has no merit," a bank spokesperson said. "JPMC does not close accounts for political or religious ..
Initial public offerings worth USD 20 billion per annum are the "new normal" for India and will become an annualised run rate over the next few years, one of the biggest investment bankers said on Tuesday. The market, which has seen a slew of initial share sales this fiscal, has already witnessed USD 21 billion of issuances in 2025, the same as last year, and we should close the year with over USD 23 billion, given the fact that some large issues like the Rs 10,000 offering from ICICI Prudential AMC are in process, said JP Morgan. "Yearly issuance of USD 20 billion is the new normal for India. It is the new watermark and will become an annualized run rate from here on," its head of equity capital markets, Abhinav Bharti, told reporters here. Bharti said nearly a fifth of the demand is getting driven by consumer technology and new age businesses, and the same will go above 30 per cent as well over the next five years. He said at least 20 startups, which command valuations in hundred
Payments firm Cashfree on Tuesday announced a collaboration with J.P. Morgan Payments as part of its commitment to building a borderless payments ecosystem. With this, J.P. Morgan Payments becomes an Authorised Dealer Category-I (AD-I) bank for Cashfree, enabling the processing of import transactions under the RBI's Master Direction on Regulation of Payment Aggregator, a joint statement said. This collaboration addresses the payment-related barriers head on by combining global credibility with homegrown innovation, it said. With J.P. Morgan Payments acting as Cashfree's AD-I bank, import transactions are routed end-to-end in compliance, while offering businesses the assurance of secure, transparent, and reliable settlements through trusted rails, it said. As India continues to set global benchmarks in digital payments, the world is increasingly looking to the country as the emerging hub for seamless digital commerce. The next era of global payments will be defined by enabling ...