Current Affairs PDF

JP Morgan’s Kalpana Morparia to retire & Leo Puri to take over

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

JPMorgan’s Kalpana Morparia set to retire, Leo Puri to take overOn May 27, 2020 Leo Puri, the former Managing Director(MD) and Chief Executive Officer(CEO) of UTI Mutual Fund, will take charge as the chairman of JP Morgan, South and Southeast Asia after Kalpana Morparia(70 years old) retirement in 2021. She will stay in the company till Q1 of 2021. Leo Puri will report to Filippo Gori, CEO, Asia-Pacific.

Top level changes

  • Murli Maiya who has 26 years of experience at JPMorgan, will become the new CEO for South and SouthEast Asia in the 1st quarter of 2021 & will report to CEO, Asia-Pacific. Recently, he was the co-head of Investment Banking Coverage for the Asia-Pacific region.
  • Madhav Kalyan, CEO of JPMorgan Chase, India, will become senior country officer for India from Q1 2021, subject to necessary regulatory approvals and will report to Maiya.

About Kalpana Morparia

Kalpana Morparia is the latest among the senior-most women bankers to step down from their positions in the banking industry. She marks the completion of 45-years in the financial services industry

Journey in ICICI

i.Morparia, a lawyer from the Government Law College, Mumbai spent her career of over 30years with Industrial Credit and Investment Corporation of India (ICICI). She joined ICICI in 1975 & was elevated to its board of directors in 2001.

ii.She retired from the board of the Bank in 2007 as its Joint Managing Director. She has over 30 years of experience in ICICI. She also serves as an independent director on the boards of several Indian companies.

iii.She was Vice-Chair, Insurance, Securities and Asset Management and Chief Strategy and Communications Officer in the bank

Career in JP Morgan– She was appointed as CEO, JP Morgan India in 2008 and, in 2016, was elevated to a regional role.

About Leo Puri

i.Puri had joined the asset management company (AMC) in 2013 from Warburg Pincus India, where he was the managing director. He stepped down from the AMC in 2018

ii.Puri’s previous roles include senior partner and co-head of Asia Financial Services at McKinsey & Company and managing director for Warburg Pincus, India, where he was responsible for building the firm’s franchise in the country.