State Bank of India (SBI) has announced the appointment of Mr. Sanjiv Chadha as Regional Head for the UK, taking over from Mr. Mrutyunjay Mahapatra in overseeing all activities of the bank in the UK. Mr. Mahapatra returns to India to take up a new role.
Mr. Chadha takes up the Regional Head role with immediate effect, having most recently held the position of General Manager, Retail Banking, with SBI in India where he headed a network of 400 branches in the southern state of Tamil Nadu. Mr. Chadha has over 25 years’ experience in banking and started his career with SBI in 1987. His specialist experience includes corporate finance, investment banking, mergers and acquisitions, structured finance and private equity.
His other recent assignments include holding a leadership position at SBI in Los Angeles from 2002 until 2007; Head of Mergers & Acquisitions and Private Equity with SBI Capital Markets, the bank’s investment banking arm; and Executive Secretary to the Chairman.
Mr. Chadha, SBI Regional Head of UK, said: “This is an important time in SBI’s 90 year history of operating in the UK as we look to reaffirm our commitment to the UK market and continue to strengthen our position in the retail and wholesale banking arenas.”
He continued: “We intend to strengthen our lending portfolio in the buy-to-let and commercial mortgages sector. My focus will also be to enhance customer experience across various touch points, while benchmarking our products and services to ensure we remain best in class.”
SBI in the UK offers a consistently attractive range of simple and transparent savings products, NRI services and buy-to-let mortgages for retail customers. It has recently entered the SME lending market with its Commercial Mortgages proposition.
Along with its flagship branch in the heart of the City of London, State Bank of India has nine further branches across the UK with expansion plans including the introduction of more customer touch points in the near future.