Latest news with #SatishArcot
Yahoo
14 hours ago
- Business
- Yahoo
Bank of America (NYSE:BAC) Appoints New India Head, Announces US$3 Billion Debt Redemption
Bank of America has recently seen a price move of 13% over the last quarter. This performance coincides with several significant corporate and financial developments, including the appointment of Satish Arcot to lead the capital markets business in India and various debt redemptions, which highlight ongoing efforts to enhance leadership and manage financial obligations. In the broader context, the market has been experiencing an upward trend, with the S&P 500 nearing an all-time high. Such market momentum, alongside Bank of America's strategic initiatives, likely provided added weight to the company's recent stock performance. Buy, Hold or Sell Bank of America? View our complete analysis and fair value estimate and you decide. Explore 23 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. Bank of America's recent leadership appointment and financial management actions, such as the appointment of Satish Arcot and debt redemptions, could bolster its strategic initiatives in key regions like India, potentially enhancing both revenue streams and leadership effectiveness. Such developments could support the forecasts that suggest revenue might grow annually at 6.5% over the next three years. The focus on digital engagement and credit diversification could further stimulate earnings growth, offering a potential hedge against the economic volatility that challenges the banking sector. Over the last five years, Bank of America delivered a total shareholder return of 102.38%, including dividends. This longer-term performance places the current share price movement in perspective. The recent short-term rise of 13% aligns with a broader market trend, yet BAC still underperformed the US Banks industry return of 25.7% over the past year. Analysts' average price target of US$48.57 suggests a potential upside of 15.9% from the current share price of US$40.84, reflecting the anticipated earnings growth and share repurchase strategies. Evaluate Bank of America's historical performance by accessing our past performance report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:BAC. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
BofA appoints Satish Arcot to lead capital markets business in India
Bank of America (BofA) has appointed Satish Arcot, a banker from JPMorgan Chase, as the managing director based in Mumbai, for its capital markets business in India. This move comes as part of the bank's efforts to rebuild its domestic investment banking team, reported Bloomberg citing sources. Arcot, who has over two decades of experience in financial services, is expected to join Bank of America toward the end of the year. The bank has been making key appointments earlier this year, including Vikram Sahu as India country head and Mandar Donde, a Bank of America veteran, to lead its investment banking operations in the nation. The US lender is making a concerted effort to regain its footing in the Indian market following the departure of three senior dealmakers from its investment banking unit in November, which was associated with alleged misconduct related to stock offerings. Despite its long-standing presence in India since 1964, Bank of America ranked seventh in equity capital market advisory in 2024 and did not feature in the top ten for M&A advisory, according to Bloomberg-compiled data. Arcot's previous role as an executive director at JPMorgan spanned four years, as indicated by his LinkedIn profile. He has not commented on his new appointment, and both Bank of America and JPMorgan spokespersons have declined to comment on the matter. Bank of America has a significant history in India, offering investment banking services to a range of clients including corporates with annual revenues over $2bn, financial institutions, and government entities. "BofA appoints Satish Arcot to lead capital markets business in India" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
4 days ago
- Business
- Bloomberg
Bank of America Taps JPMorgan Banker to Helm India Equity Markets Business
Bank of America Corp. has picked Satish Arcot, a JPMorgan Chase & Co. banker, to head its capital markets business in India as it rebuilds the domestic investment banking team, according to people familiar with the matter. Arcot, a two-decade financial services veteran, will join the bank toward the end of the year as a Mumbai-based managing director, the people said, asking not to be named as the information is private. Earlier this year, the US lender appointed Vikram Sahu, global head of equity research, as its India country head, and in April elevated Mandar Donde, a BofA veteran, to lead its investment banking operations in the South Asian nation.
