MUMBAI | 13^th July 2026: Sumitomo Mitsui Banking Corporation (SMBC) Group has announced the elevation of Rakesh Garg to the dual role of Chief Executive Officer and Managing Director for its India operations. This leadership move highlights the global financial institution’s commitment to fortifying its regional executive team and aggressively scaling its franchise within the country’s dynamic market.

Bringing over three decades of robust expertise across financial institutions, Rakesh is exceptionally well-equipped to steer the bank’s regional roadmap. He has been a critical driver of SMBC India’s success since 2019, most recently serving as Chief Business Officer and Managing Director. In that capacity, he was instrumental in broadening the firm’s footprint and reinforcing its domestic market position. Before joining SMBC, his extensive career featured prominent leadership stints at major global banks, including Barclays and HSBC, where he cultivated deep proficiencies in corporate banking strategy, client relationship management, and large-scale market expansion.

In his newly elevated position, Rakesh takes charge of guiding SMBC India through its next critical phase of corporate growth. His overarching mandate focuses on enriching core client partnerships, broadening the bank’s service capabilities, and delivering highly adaptable financial solutions to meet the shifting demands of local and multinational clients.

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