Mukesh Ambani to join Bank of America board as director

Mukesh Ambani
Image caption If approved by the shareholders, Mr Ambani will become the 14th director of the bank

Billionaire Mukesh Ambani, boss of India's Reliance Industries, has been appointed as a director on the board of Bank of America (BoA).

He is the first non-US citizen to be appointed to the bank's board. He will stand for election at the bank's annual general meeting next month.

Mr Ambani has been heading up Reliance Industries since 2002.

It is India's largest private company with annual revenues in excess of $44bn (£27bn).

Mr Ambani's appointment is seen as another step by BoA to try and transform itself into a more globally-focused company.

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