MUMBAI:
JP Morgan
South and Southeast Asia chairman
Kalpana Morparia
, the only woman to head a large
bank
for over a decade, will step down at the end of the current fiscal. Her position will be split into two with
Leo Puri
taking charge as chairman of South and Southeast Asia, and Madhav Kalyan being elevated to senior country officer position.
JP Morgan said in a note that Morparia (71) has informed JP Morgan of her desire to retire. “She has agreed to stay with the firm until Q12021, and help lead the firm’s efforts in South and Southeast Asia as we and our clients adapt to the new economic and work environment. Kalpana will also oversee the smooth transition of her India, and South and Southeast Asia responsibilities”.
Morparia, who took charge amid the global financial crisis in September 2008, was in her earlier stint one of the veteran leaders at ICICI Bank who helped transition the organisation from a development financial institution into a new generation private bank. During her stint in JP Morgan India, she enjoyed the confidence of Jamie Dimon, who himself is among the longest-serving chiefs of a major American bank.
JP Morgan also announced the appointment of Murli Maiya as the CEO for South and Southeast Asia in Q12021. He will report to Filippo Gori, CEO, Asia-Pacific. Murli will lead the strategic development of JP Morgan’s South and Southeast Asia franchise.
Puri, who headed
UTI
AMC until March 2019, has been on the board of several companies. Before his stint at UTI, he was MD at Warburg Pincus and before that a senior partner at McKinsey & Co. Kalyan, who is currently CEO and country head for JP Morgan Chase Bank, will become a senior country officer for JP Morgan in India in Q12021, subject to necessary regulatory approvals, reporting to Maiya.
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