Oracle business unit appoints top team from i-flex

Bangalore: Oracle Corporation, which has a majority holding in i-flex solutions, has announced the formation of a new business unit called Financial Services Global Business Unit (FSGBU) in which the US company has appointed three top i-flex executives.

While Rajesh Hukku, the incumbent CMD of i-flex will head the Oracle FSGBU as the general manager, R Ravisankar, i-flex'' CEO for International Operations and Deepak Ghaisas, CEO, i-flex (India Operations) and CFO will join the Oracle FSGBU management team.

According to Oracle, the new business unit will aggregate Oracle''s financial services-specific applications offerings and serve as a vehicle for future acquisitions in the financial services sector.

The i-flex board has also approved the expansion of its management team to leverage Oracle''s global organisation for the banking industry.

N R K Raman, currently chief operating officer, has joined the i-flex Board as the managing director and chief executive officer. Both R Ravisankar and Deepak Ghaisas have been elevated to the i-flex board as vice chairmen.

Derek Williams, executive vice president of Oracle, will also join the i-flex Board. Makarand Padalkar, currently chief of staff and Head, Investor Relations, will assume the role of chief financial officer, the company said.