Bank of America is the biggest US bank by assets. Mukesh Ambani is the first non-American board member in Bank of America. The bank officials informed that Ambani will stand for election at the bank's upcoming annual meeting.
BofA Chairman Charles O Holliday Jr said, "BofA's shareholders will benefit from the global perspective Ambani brings to our board. He has demonstrated expertise in risk management and strategic planning across a diverse range of businesses, including energy, information and communications technology, and retail networks."
After the announcement, Ambani stated, "I am delighted to join the board of BofA. It is a privilege and a great honour for me, as the first non-American citizen to join the board of one of the world's largest financial institutions. I look forward to contributing to the growth and progress of BofA."
In India, Ambani is a member of the Prime Minister's Council on Trade and Industry. He he is an active member of the Indo- US CEOs Forum, the co-chair of the Japan-India Business Leader's Forum, and India-Russia CEO Council.
The world's ninth-richest person, 53-years-old Ambani possesses a net worth estimated at $27 billion, reported Forbes in its annual global ranking of billionaires issue.