Mumbai: JP Morgan, the world’s largest bank by market capitalisation, has appointed Rahul Badhwar as its senior country officer for India, according to an internal memo seen by ET. Badhwar joins from HSBC, where he spent three decades in a range of sales and trading roles, most recent of which was global head of corporate sales for markets and securities services.

“India is a critical market for our Asia Pacific franchise, and Rahul (Badhwar) will play a central role in driving and executing our growth strategy across the country,” Sjoerd Leenart, chief executive, Asia Pacific, JP Morgan said in the internal note. “He will help ensure we bring the full firm to our clients and stakeholders, continue to strengthen governance and controls, and support our people and communities.”

Badhwar will join JP Morgan in Mumbai in July and report to Leenart, the internal communication said. As part of his role he will also join the bank’s Asia Pacific Management committee. He replaces Kaustubh Kulkarni who left JP Morgan for its US rival Citibank in September 2025. Badhwar began his career in India in the global markets division at HSBC and since then has worked in Dubai, Hong Kong and London.