JP Morgan Reshuffles Senior Roles, Appoints APAC Head of Payment

The investment bank, JP Morgan Chase & Co., has appointed Madhav Kalyan, its Senior Country Officer in India, as its new Head of Payment for Asia Pacific (APAC).

The executive’s appointment is one of several reshuffles that JP Morgan is completing in its APAC market.

Kalyan, who joined the bank in 2009 and was previously the Chief Executive Officer of JP Morgan Chase Bank in India, is stepping into the shoes of Sridhar Kanthadai.

In turn, Kanthadai, who joined the bank in 2017 from Standard Chartered Bank, has been appointed as the financial services firm's Co-Head of Global Payment Rails and Payment VAS.

Furthermore, JP Morgan said Kaustubh Kulkarni, its Vice Chair for APAC, will take over Kalyan’s role as Senior Country Officer for India. Kulkarni has been with the bank for over 16 years, having joined in April 2006.

Additionally, PD Singh, who has spent over 12 years at JP Morgan serving in India since April 2010, will now act in a double capacity: He will continue in his role as the Head of Corporate Banking in India but also serve as the interim CEO of JP Morgan Chase Bank in India.

Singh joined the investment bank from HSBC where he worked for a decade and served as the Head of Corporate Banking in India.

Recent Appointments

In August, JP Morgan moved Inge Grobbelaar to London to serve as its Vice President, managing structured products and electronic market-making operations.

Before the move, Grobbelaar was the company’s Vice President in Hong Kong overseeing equity and cross-asset structured products, corporate derivative margin loans and over-the-counter equity derivatives client services.

She joined the financial services firm in April 2017 as an Equity Derivatives Analyst.

Earlier in May, JP Morgan hired Carissa Biggie, Prudential Financial’s Enterprise Relationship Manager, as its Global Head of Broker Relationship Management.

However, Biggie has a past relationship with JP Morgan. Between October 2002 and May 2005, she served as an Alternative Asset Manager and Project Manager at the financial company.

Also in May, JP Morgan participated in the $60 million Series C funding round of Elliptic, a cryptocurrency risk management company.

The round was led by Evolution Equity Partners with the participation of Digital Currency Group, SoftBank Vision Fund 2, AlbionVC and Wells Fargo Strategic Capital.

SBI Group, Octopus Ventures SignalFire and Paladin Capital Group participated in the round.