JPMorganIndiaCEO Morparia to Handle Seven More Markets
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.