Sumitomo Mitsui Banking Corporation (SMBC) said it has appointed Rakesh Garg as chief business officer for non-Japanese international business. Garg will be handling the implementation of the bank’s India business strategy across corporate and institutional banking, structured and trade finance, treasury and transaction banking. Keishi Iwamoto, SMBC’s country head of India, said SMBC is positioning for a long-term growth in India and Garg’s appointment is an outstanding addition to the team. Garg, who has more than 25 years of experience in the banking industry, has held various leadership roles at Barclays, including COO for corporate and investment banking. He has also been with HSBC in its treasury and capital markets unit, rising to the position of head of debt capital markets and risk advisory. He is an MBA from the Indian Institute of Management, Ahmedabad, and a B. Tech from the Indian Institute of Technology, Delhi.
