BNP Paribas said it has promoted Sanjay Singh to head of India territory with effect from January 1.
Singh, who is currently the chief executive officer of the French bank’s Indian banking unit, will take over from Aymar de Liedekerke Beaufort, who has been the head of India territory since September 2021.
The promotion will be subject to regulatory approvals, a BNP Paribas spokesperson said in response to an email query.
In his new role, Singh will be in charge of BNP’s back-office operations and retail brokerage arm Sharekhan. BNP’s banking arm in India has around 450 executives, while other businesses employ close to 14,500 people.
Singh’s appointment as the CEO of BNP’s domestic unit in September 2021 was a departure from the bank’s tradition of appointing mostly French nationals to head India operations.
BNP set up its operations in India in 1860. The bank operates a corporate and institutional banking franchise in the country. BNP Paribas shut down its domestic unit that caters to the country’s rich investors in 2020, after two decades of existence in the country.
Singh, who joined BNP Paribas in 2013, has been the chief executive of the bank’s securities arm and head of global markets. Before joining the French bank, he was the director of Credit Suisse’s prime services and CLSA’s derivatives head.