Kalpana Morparia leaves ICICI Bank, joins JP Morgan
Kalpana Morparia has resigned from ICICI Bank after putting in 33 years of service with the bank. She now joins JP Morgan and will head their operations in India.
From the time she started off with the bank’s legal department in 1975, to becoming Joint MD, she was often the public face of the company and was part of the power group along with KV Kamath, Chanda Kochhar, Lalita Gupte and Nachiket Mor.
There has been speculation for some time over who will ultimately take over from Kamath and this latest move from Morparia means that Chanda Kochhar now has a clear field.
Morparia had earlier proposed floating a separate holding company which would allow the bank to move it’s shareholding in it’s AMC and insurance business into a separate company. However, that plan fell through after objections from the banking regulator, possibly hastening her slide as well.
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