Arabian Post Staff -Dubai
Three senior Bank of America executives in India have stepped down amid an internal investigation into alleged irregularities in equity market dealings. Debasish Purohit, co-head of investment banking in India; Subhrajit Roy, managing director and head of global capital markets for India; and Vikram Khaitan, director of investment banking, are reportedly at the center of this inquiry.This probe underscores potential governance and compliance concerns, prompting significant changes within the leadership of one of the largest foreign banks operating in the Indian financial ecosystem. The investigation appears to focus on equity market transactions handled under the purview of these executives, but specific details about the alleged wrongdoing remain undisclosed. Bank of America has so far declined to comment on the situation.
Debasish Purohit, a seasoned investment banker with decades of experience, has been integral to Bank of America’s operations in the region. Similarly, Subhrajit Roy, a prominent figure in India’s capital markets, has held leadership roles at multiple global banks, contributing to major transactions across the corporate landscape. Vikram Khaitan’s expertise further bolstered the bank’s strategic advisory functions, making these departures significant for the institution’s operations in the country.
Also published on Medium.
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