THE old order has changed completely in the life insurance industry. After Deepak Satwalekar of HDFC Standard Life and Shikha Sharma of ICICI Prudential stepped down, markets are agog with anticipation on who will be the next thought leaders. SBI Life's MD US Roy's term ends in July, although an extension is not ruled out. Kamesh Goyal, MD, Bajaj Allianz Life, though just 42, is among the veterans who has been around since the company's inception. Grapevine has it that he may move to an international position with Allianz. Gaurang Shah, MD of Kotak Life, was planning to return to the parent bank, but may stay back, given the current economic turmoil. Following these imminent changes at the top, P Nandagopal — who is set to join Bank of Baroda-Legal and General JV — and Rajesh Relan of Metlife are the only ones left from the old school.
PERFECT TIMING
IN HER career with ICICI Bank, Chanda Kochhar has built up a reputation for time management. On her first day, she gave back-to-back interviews to various mediapersons, including those from regional newspapers and television channels. Yet, she found a way to address all employees about her priorities. Instead of a general e-mail, the bank arranged for a direct-tohome broadcast using the services of a DTH company, and a special programme containing her address was aired to employees across the country.
VIRTUE OUT OF NECESSITY
RBI'S decision to introduce interest calculation on daily balances in savings bank accounts had come as a pleasant surprise in its Monetary Policy. The earlier norm of calculating interest rates on the minimum balance maintained between the 10th and last day of every month had been in vogue for 69 years. But, a letter to ET claims that there was compulsion behind this munificence. A financial consultant from Indore, Mahesh Natani, says that RBI's move was preceded by a public interest litigation (PIL) filed by him along with a friend Ajit Jain. He claims RBI took up the matter after show cause notices were issued to it and the ministry of finance by the Madhya Pradesh High Court.
TOGETHER FOR KEEPS
ALTHOUGH IDBI's chairman Yogesh Agarwal has been on a hiring spree, recruiting executives from his erstwhile employer State Bank of India, he is not keen on letting his own senior executives go. Recently, at an offshore meeting of senior executives, the chairman made it very clear that he plans to retain both his DMDs—Jitendra Balakrishnan (or JB as he is popularly known) and OV Bundellu — as consultants when they retire. While JB is due to retire this month, Bundellu has about year to go. However, it is not clear whether JB will stay, considering that he has other offers on hand.
PASSING THE BATON
FOLLOWING the transfers of EDs Bhargav Das Gupta and NS Kannan from ICICI Prudential Life, their responsibilities have been redistributed among the insurer's senior management. Most of the responsibilities of Mr Kannan, who has moved to ICICI Bank as CFO, have been taken over by Puneet Nanda, chief investment officer. In ICICI Lombard General Insurance also there is no move to immediately appoint an ED in place of Vishaka Mulye, who has moved to ICICI Venture.
NEW MAN IN
ONE of the top two vacant slots at National Housing Bank is set to be occupied by Prabal Sen, currently chief GM at Reserve Bank of India. Sen is set to take over from RV Verma as executive director who retired recently. Meanwhile, NHB is looking for a new chairman in place of S Sridhar, chairman of Central Bank of India.
http://ways2trade.blogspot.com
Free SMS Calls on India Stock Market
DisasterAwareness | Health | Commodities
Chat: 
Google Talk: ways2invest 
Y! messenger: wilint
Google Talk: ways2invest Y! messenger: wilintContact Me: 
So, try now
Posts
No comments:
Post a Comment