KPMG to expand Indian operations
Bangalore: KPMG, part of the 'Big Four' global consulting firms is expanding operations in India and shifting its focus towards advisory services and away from auditing.
The firm has appointed a new chief operating officer, Richard Rekhy. With Ian Gomes, the current country managing director, returning to his UK practise, the company has decided not to bring in expats any more to head the Indian operations.

From July 1, a new two-member team comprising Indian nationals will take over the operations of the firm. Russell Parera has been appointed the chief executive officer while K.R. Girish, who was earlier with RSM Associates, has been brought in to head the tax practise in South India.

India has also become the firm's new centre of excellence for Asia-Pacific in advisory services.

KPMG will also double the number of partners to around 42 in another six months. The number of consultants will increase to 5,000 from 1,750 currently by 2010. It will also induct expats to work in teams like corporate finance who will help Indian firms planning to set up operations abroad. Likewise, desks have been set up Japan, South Korea, Germany and the US to help foreign firms do the same.

KPMG was the last firm among the Big Four to set up its operations in India in 1993.
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Changes in Nicholas Piramal board
Mumbai: The 12-member board of directors of drug-maker Nicholas Piramal India Ltd (NPIL), has been recast. Urvi A. Piramal, a family member who has been on the board of NPIL since 1988 has stepped down. Her son Harsh A. Piramal, a non-working director of the company since June 2004, has also submitted his resignation as a member on the board of the company. In May last year, Ajay Piramal, chairman of NPIL, had resigned from two other family-run companies under Ms Piramal's management control.

The streamlining of businesses was to "clarify management accountability and responsibility," the official said.

The two companies Ajay Piramal resigned from last year are Peninsula Land Management Company (the merged entity of Morarjee Realities and Piramal Holdings), headed by Rajeev Piramal. The other company is Morarjee Mills, in the textiles business and run by Harsh Piramal.

The retail, real estate and textiles business would be under the Urvi Piramal-umbrella, while Ajay Piramal will run pharmaceuticals, glass and financial services segments.

Meanwhile, Ajay and Dr Swati Piramal's daughter, Nandini Piramal, has joined the company in New York, as a general manager in the strategic marketing and contract research and manufacturing space, a segment that is expected to drive NPIL's growth plans. G.P Goenka has resigned from the company. He has been on NPIL's board since 1986.

Vijay Shah, executive director with NPIL since 1997 has resigned from the board to assume responsibilities as managing director in Gujarat Glass Pvt Ltd — a member of Piramal Enterprises.

Keki Dadiseth, an additional director effective from December 2005 has been appointed as a director of NPIL at the company's recent Annual General Meeting.

Michael Jude Fernandes who was appointed additional director effective from January 19, 2006, has been re-appointed as director and in the whole-time employment of NPIL.
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Kumar Birla, Premji get place on RBI central board
Mumbai: Azim Premji, chairman of Wipro, and Kumar Mangalam Birla, head of the A V Birla group, have been nominated as members of the central board of the Reserve Bank of India (RBI) replacing Ratan Tata, chairman of Tata group and N R Narayana Murthy, chairman & chief mentor of Infosys Technologies who retired as directors of the central board of RBI. Both Tata and Narayana Murthy were members of the board since 2000.

The government, while reconstituting the RBI central board with effect from June 27, has re-nominated Y H Malegam, chartered accountant, H P Ranina, Supreme Court advocate and A S Ganguly, member of investment commission and knowledge commission and chairman of ICICI OneSource.
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