BofA Board Adds Billionaire Ambani, Boosting Access to India
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Bank of America Corp. picked Mukesh Ambani, India’s billionaire chairman of Reliance Industries Ltd., to join its board as the lender seeks to expand revenue from outside the U.S.
Ambani, whose Mumbai-based company owns the world’s largest refining complex, will stand for election at an annual meeting this year, Charlotte, North Carolina-based Bank of America said yesterday in a statement. The 53-year-old is the world’s ninth-richest person and the wealthiest in India, with a net worth estimated at $27 billion, according to Forbes magazine.