JPMor­ganIn­di­aCEO Mor­paria to Han­dle Seven More Mar­kets

The Economic Times - - Companies - Saikat Das & Joel Re­bello

Mum­bai: JP Mor­gan has el­e­vated its In­dia chief ex­ec­u­tive of­fi­cer Kal­pana Mor­paria to a re­gional role, over­see­ing seven coun­tries in ad­di­tion to the three that are al­ready un­der her am­bit, two peo­ple fa­mil­iar with the mat­ter said. The new mar­kets will in­clude large South East Asian coun­tries such as In­done­sia, Sin­ga­pore and the Philip­pines in ad­di­tion to In­dia, Sri Lanka, Bangladesh, these peo­ple said. Coun­try of­fi­cers of the Philip­pines and Malaysia will re­port to her as she would drive the bank’s busi­nesses in these mar­kets com­pet­ing with global ri­vals Citibank and Deutsche Bank.

“She will now over­see the over­all firm-wide fran­chise in South Asia (Philip­pines, In­done­sia, Malaysia, Sin­ga­pore, Thai­land, Viet­nam, Pak­istan) across lines of busi­nesses,” one of the per­sons cited above said. “This is in ad­di­tion to her ex­ist­ing re­spon­si­bil­i­ties. All those coun­try heads will now re­port to her,” this per­son said. Mor­paria will con­tinue to be based in In­dia. JP Mor­gan did not re­spond to an email seek­ing com­ment.

Mor­paria, 66, took over as JP Mor­gan’s In­dia CEO in Au­gust 2008 af­ter over three decades at ICICI Bank where she rose to be­come the joint man­ag­ing di­rec­tor.

JP Mor­gan in In­dia is a cor­po­rate and­in­vest­ment­bank.Last­month,it sold its mu­tual fund busi­ness in In­dia t o E d e l we i s s A s s e t Man­age­ment, a unit of Edel­weiss Fi­nan­cial Ser­vices. Mor­paria also over­sees JP Mor­gan’s ser­vice groups in In­dia, in­clud­ing global re­search, tech­nol­o­gyan­d­op­er­a­tions.Sheisamem­ber of JP Mor­gan Asia Pa­cific Ex­ec­u­tive Com­mit­tee and serves as in­de­pen­dent di­rec­tor on the boards of many com­pa­nies, in­clud­ing Philip Mor­ris In­ter­na­tional, Dr Reddy’s Lab, ICICI Lom­bard Gen­eral In­sur­ance, ICICI Pru­den­tial Life In­sur­ance and Ben­nett, Cole­man & Com­pany.

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