Bank of America India Equities Head Saumil Shah Dies at 46

  • Shah said to have died while on business trip to Hong Kong
  • He became sole leader of India equities business in January

Saumil Shah, the head of India equities at Bank of America Corp.’s Merrill Lynch unit, died over the weekend, the company said an e-mailed statement. He was 46.

Shah died while on a business trip to Hong Kong, a person with knowledge of the matter said, asking not to be identified because the information hasn’t been made public.

Saumil Shah

Source: Merrill Lynch

The death of the Mumbai-based managing director "is a huge loss to our firm as well as to all those who loved him,” the Charlotte, North Carolina-based firm said in the statement, without providing further details. "Our heartfelt condolences go to his family at this difficult time."

Shah started at Merrill Lynch in 1997 in New York, after he graduated from New York University’s Stern School of Business, according to another person. He moved to India in 2002 after a stint in London, the person said. In 2012, he was named co-head of equities with Avinash Gupta. Shah became sole head after Gupta left in January, the person said.

A father of two, Shah was very health-conscious, and played squash and swam several times a week, the person said.

A call and e-mail to the public relations office of Hong Kong’s police department weren’t immediately returned.

The Economic Times of India reported Shah’s death on Saturday.

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