Virendra Bansal has assumed the position of the new Managing Director & Chief Executive Officer at SBI Capital Markets (SBICAPS), the wholly-owned subsidiary and investment banking arm of State Bank of India (SBI).
He takes over from Rajay Kumar Sinha, who has transitioned to become the Whole Time Member (Finance and Investment) of the Insurance Regulatory and Development Authority of India (IRDAI) for a three-year term starting January 2024, according to a statement from SBICAPS.
Before becoming the head of SBICAPS, Bansal served as the Country Head for SBI’s US Operations, overseeing offices in New York, Chicago, Los Angeles, Sao Paulo, and Washington DC.
Bansal also held positions as the Chief Executive Officer of SBI’s New York branch and as Vice-Chairman of SBI (California), a US Retail Banking subsidiary. He also contributed to SBI UK operations as Head of Trade and managed the retail branch catering to high net-worth customers.
With over three decades of experience at SBI, Bansal has undertaken various roles in Credit, International Banking, and Retail Banking, as per the statement. “We are committed to maintaining our focus on innovation, nurturing strategic collaborations, and providing exceptional value through top-tier investment banking solutions to our clients,” said Bansal.
