Bank of the West, a BNP Paribas subsidiary, today announced the appointment of Nandita Bakhshi as President and CEO-designate effective April 1. Ms. Bakhshi will assume the role of President and CEO on June 1, when current CEO Michael Shepherd, 60, will take on the role of Chairman of BNP Paribas USA, the new holding company for all BNP Paribas subsidiaries in the U.S. Mr. Shepherd will continue to serve as Chairman of BancWest Corporation and of Bank of the West.
“We are pleased to welcome Nandita Bakhshi to Bank of the West. Her extensive experience in product and distribution, coupled with her visionary thinking, relentless customer focus and values-driven philosophy will serve us well in taking Bank of the West to greater heights,” said Stefaan Decraene, Head of International Retail Banking for BNP Paribas.
“I am very pleased that Nandita Bakhshi is joining Bank of the West,” said Shepherd. “Her energy, innovative ideas and proven record of accomplishments are a great combination with our strong franchise and corporate culture.”
“I am excited to join Bank of the West, one of America’s most reputable banks. Bank of the West is well positioned in the U.S. market and I’m thrilled at the prospect of leading an organization with such a strong focus on customer service,” said Bakhshi.
Bakhshi joins Bank of the West from TD Bank, where she held several leadership positions, most recently as Executive Vice President and Head of North American Direct Channels. In that role, she was responsible for driving innovation in direct and electronic channels to improve digital adoption and provide customers a unified banking experience. Earlier, she had served as Executive Vice President and Head of Consumer Banking at TD Bank in the U.S., where she led product innovation and delivery across all retail channels, spanning more than 1,300 bank locations from Maine to Florida.
Prior to joining TD Bank, Bakhshi was Executive Vice President of Consumer Deposits and Payments at Washington Mutual in Seattle, now JP Morgan Chase. A 28-year veteran of the financial services industry, with broad experience in banking, Bakhshi has also held leadership positions at FleetBoston, now Bank of America, as well as at First Data Corp., where she was the managing director of their mobile payments division. Bakhshi holds a Masters of Arts degree in international relations from Jadavpur University in India.
“Michael has been instrumental in making Bank of the West a leading financial institution known for its financial strength and commitment to its clients and communities,” said Decraene. “For nearly a decade as CEO, Michael has led the transformation of Bank of the West into one of the leading regional banking organizations in the U.S.”
Shepherd’s career spans senior positions in banking, government and law, including recent service as President of the Federal Reserve Board’s Federal Advisory Council. He previously worked as General Counsel of Bank of New York and of Shawmut National Corporation and served in government as Senior Deputy Comptroller of the Currency, Associate Counsel to the President of the United States and Deputy Assistant Attorney General.
About Bank of the West
Bank of the West is a regional financial services company chartered in California and headquartered in San Francisco with $75.7 billion in assets as of December 31, 2015. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 offices in 22 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 75 countries with 185,000 employees.