Categories: AppointmentsCurrent Affairs

SBICAPS Appoints Virendra Bansal as the new MD and CEO

In a significant move that marks the beginning of a new chapter for SBI Capital Markets (SBICAPS), the investment banking arm of State Bank of India (SBI), Virendra Bansal has been appointed as the new Managing Director and Chief Executive Officer. Bansal steps into the role, succeeding Rajay Kumar Sinha, who has moved on to serve as the Whole Time Member (Finance and Investment) at the Insurance Regulatory and Development Authority of India (IRDAI) for a three-year tenure starting January 2024.

A Rich Legacy of Experience

Virendra Bansal brings to the table a wealth of experience, having previously served as the Country Head for SBI’s expansive US Operations. His responsibilities spanned across key financial hubs, including New York, Chicago, Los Angeles, Sao Paulo, and Washington DC, showcasing his ability to manage and lead in diverse and dynamic environments. His tenure as Chief Executive Officer of the SBI New York branch and Vice-Chairman of SBI (California) further emphasizes his deep understanding of international banking and financial markets.

A Diverse Career Path

Bansal’s journey with SBI has been remarkable, covering over three decades of dedicated service. Throughout his career, he has been at the forefront of various critical areas such as Credit, International Banking, and Retail Banking. His roles have seen him as the Head (Trade) for SBI UK operations and the head of a retail branch catering to high net-worth individuals, highlighting his versatility and adaptability across different banking segments.

Vision for SBICAPS

As he takes on the mantle of leadership at SBICAPS, Bansal is poised to steer the organization towards greater heights. He expressed his commitment to driving innovation, fostering strategic partnerships, and delivering exceptional value through best-in-class investment banking solutions to clients. Under his guidance, SBICAPS is expected to continue its trajectory of growth, leveraging Bansal’s extensive experience and strategic vision.