Rajat Kohli resigns from HSBC
Mumbai: Resources mergers banker Rajat Kohli at HSBC is leaving the bank to help advise Arcelor Mittal on potential mergers and acquisitions.

Based in London Kohli was among bankers who advised Mittal on its purchase of Arcelor SA last year.
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Government to change selection model for bank heads
Kolkata: The government is likely to change the selection model for senior bank officers. It will for starters do away with the present practice of giving a big weightage to interviews while selecting public sector bank (PSB) chairmen. Critics of the existing selection process say the interview system, introduced in 2003, lacked fairness. The government now plans to broad-base the number of selection yardsticks and put separate weightages to parameters like the candidate's educational and professional qualifications or how he or she fared as an executive director. In the proposed system, interviews would only be a part of the process rather than a major criterion for selection.

The new system if it comes into place will minimise subjectivity in the selection procedure. According to government sources, the Prime Minister's Office has directed the ministry of finance to frame the guidelines.

However, it is still unclear as to what will happen to the candidates tipped to be elevated as CMDs from executive directors. The department of personnel and training is understood to have prescribed to go by seniority for the time being, at least until a comprehensive set of guidelines comes in place.
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