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Citibank brings in top management
changes
Mumbai: Leading foreign bank, Citibank, has made some
major senior management changes in the Indian operations.
Nanoo Pamnani, till recently chief executive and head of
global consumer banking has been redesignated as chief executive and country corporate
officer.
His post as head of global consumer banking has now been
taken over by Sarvesh Swarup, who has returned to India after an 18-month stint with
Citibank London. These operations would include the retail banking activities such as
credit cards, auto, home and personal loans, fall under the global consumer bank.
Under the new changes Sanjay Nair, currently with Saloman Smith Barney in New York, will
return back to India to take charge of the global wholesale banking business of the Indian
operations.
Both Swarup and Nair will report in to Pamnani under the
new structure.
This will result in Sujit Banerji, currently head of the global wholesale bank in India,
moving back to London.
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Subramanyam may
also quit IL&FS
Mumbai: Embattled former UTI chairman, P S Subramanyam, is also likely to step down
from his position as chairman of Infrastructure Leasing and Financial Services (IL &
FS).
Mr. Subramanyam took over as the non-executive chairman of
the company in early February this year, following resignation of the HDFC chairman Deepak
Parekh from the post on the grounds of possible conflict of interest as regards his role
as chairman of Infrastructure Development Finance Co.
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Vassal to be acting
chairman of UTI
Mumbai: In the wake of the resignation of the chairman of the country’s
largest mutual fund, the Unit Trust of India, the senior most executive director, K G
Vassal, currently in charge of the legal affairs section of the fund, has been directed to
hold office as acting chairman until a new incumbent for the post has been found.
Mr. Vassal will take the helm from P S Subramanyam, who
resigned earlier on Wednesday amid a storm of protest provoked by the suspension of
redemptions from UTI's largest fund due to declining performance.
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