Kalpana Morparia quits ICICI to join JP Morgan

Kalpana Morparia quits ICICI to join JP Morgan

Mumbai: Kalpana Morparia, the high profile banking official who has been with ICICI Bank for 33 years, is now leaving the bank .

It is learnt that Morparia will join the international investment bank JP Morgan. ICICI Bank in a statement said that Morparia, Vice-Chair, Insurance, Securities and Asset Management and Chief Strategy and Communications Officer – ICICI Group, was leaving the group to pursue other opportunities.

Morparia joined erstwhile ICICI Ltd in 1975 and became a member of the Board of Directors in 2001.

She retired from the Board of Directors of ICICI Bank in 2007 as Joint Managing Director, following which she took charge of her current post in the group. She played a key role in ICICI Group’s capital raising exercise as well as the merger of ICICI Ltd with ICICI Bank in 2002.

As head of the Corporate Centre of ICICI Bank till 2007, she was responsible for a range of functions such as planning and strategy, financial reporting, risk management and human resources management. She was also the official spokesperson for ICICI Bank.

Since 2007, she has focused on guiding the Group’s insurance, asset management and securities businesses.

Morparia was quoted in a news agency report saying, “JP Morgan has established a strong and highly respected franchise in India which will support plans to expand all three lines of business - investment banking, asset wealth management and treasury and securities services.”

The agency report also quoted J P Morgan Chairman and Chief Executive, Asia Pacific, Gaby Abdelnour as saying, “Morparia offers J P Morgan a tremendous opportunity to accelerate the progress we have made in building our Indian franchise.”


Source: http://sify.com/