News makers:
27 Aug 2001
30 Aug 2001
Zydus consolidates presence on German Remedies board
AhmedabadZydus Cadila Healthcare has re-constituted the board of German Remedies Ltd, where it acquired a 27.72 per cent stake, earlier.
Zydus Cadila chairman Ramanbhai B Patel has been appointed chairman of GRL and other directors are: H K Bilpodiwala (former GRL chairman), Pankaj R Patel (Zydus MD), Ganesh Nayak (Zydus executive director), Mukesh Patel (a director in Cadila Healthcare), K Leimkuehler, Prof. C Ruger and H Dhanrajgir.
While Bilpodiwala, Leimkuehler, Ruger and Dhanrajgir have been retained in the GRL board of directors, those dropped are M G Sheth, H N Shethna, T H Anik, S C Asha and S R Balasekar.
29 Aug 2001
Chadha wants to replicate HDFC Banks performance at IDBI Bank
New Delhi - IDBI Bank is reported to be going in for large scale hiring of personnel at top management levels, to the tune of 500 people by the end of the year.
Gunit Chadha, IDBI Bank's new MD and CEO says he wants to achieve at IDBI what Aditya Puri achieved at HDFC Bank. The Bank's hiring binge is an attempt to create a pan-India organisation with a retail presence in 100 cities by March 2002. This will increase the bank's retail presence by nearly 140 per cent: IDBI Bank now operates in 42 cities in India.
Chadha hopes that by putting in place a talented team, investors will be impressed enough to pump in capital required for expansion.
A core team of about 10 people drawn from organisations like Citibank, ANZ Grindlays, AIG, SBI, Deutsche Bank, HSBC Bank and ICICI is already in place.
Vinit Kohli, earlier with HSBC, has joined as CFO; Ajay Bimbhet, earlier head, liabilities and marketing at ANZ Grindlays, has joined IDBI Bank as head, retail bank; Sushil Kak, earlier head, corporate relation management (global banking), Deutsche Bank, has joined as head, corporate bank; Janak Desai, earlier with ABN-Amro and Standard Chartered Bank, joins as treasurer; Prakash Jaodekar, earlier at SBI has come in as head, risk management; Pradeep Patil, earlier at Union Bank of India, has joined as head, audit; S Kumar, earlier, head, distributions and e-channels, UAE with Standard Chartered, has joined as head, operations, retail and corporate banking; Ulhas Deshpande, earlier HR head for AIG's life and non-life business has joined as head, HR; Neeraj B Bhai, earlier chief information officer at SSKI Investor Services, has joined as chief technology officer.
Pradeep Patil, earlier at Union Bank of India, has joined as head, audit; S Kumar, earlier, head, distributions and e-channels, UAE with Standard Chartered, has joined as head, operations, retail and corporate banking; Ulhas Deshpande, earlier HR head for AIGs life and non-life business has joined as head, HR; Neeraj B Bhai, earlier chief information officer at SSKI Investor Services, has joined as chief technology officer.
Thats not all, Chadha wants to add at least another 300 people to his team.
IDBI will also be visiting the countrys premier B-schools in the coming placement season for its recruitment requirements.
The new team will try to ramp up the performance of IDBI Bank, which lags behind many private bank peers on parameters like profitability and interest spread.
