Sir John Peace, Chairman of the Board stated: "We are taking a long-term, strategic, forward-looking approach to refreshing the Board, balancing our need both to maintain longevity and stability on the Board whilst regularly refreshing its composition".
Bhatt has extensive banking, financial services and leadership acumen with deep knowledge and experience across India, one of the Bank's largest markets. Though he has maintained a low profile after his retirement from the State Bank of India, he is on the boards of some of India's most sought after companies. He is currently an independent Non-Executive Director of Tata Consultancy Services, Oil and Natural Gas Corporation Ltd, India and Hindustan Unilever Ltd. He is also engaged with a number of other foreign and domestic companies in India, and serves as Governor on the board of Governors of the Centre for Creative Leadership, a US based global leader in leadership development.
Bhatt was recently in the news for having been appointed on a government panel that will assist in the search for the next chief of Insurance Regulatory and Development Authority.