J.P.Morgan Asia Pacific today announced the appointment of Kalpana Morparia as Chief Executive Officer of the firm's Indian operations.
Ms Morparia joins J.P.Morgan from the senior management of the ICICI Group, India's largest private sector financial services company.
Ms Morparia is vice chairman of the ICICI Group's insurance, asset management and securities companies, and Chief Strategy and Communications Officer. She joined the board of ICICI Bank in 2001 and held the position of Joint Managing Director until last year, before assuming her current role with the group.
During her 33 year career with ICICI, Ms Morparia played an influential role in the firm's expansion. Her term at ICICI Group placed her at the forefront of the transformational changes which have reshaped the country's banking industry.
Mr Gaby Abdelnour, the Chairman and Chief Executive of J.P.Morgan, Asia Pacific said he warmly welcomed the experience and knowledge which Ms Morparia will bring to the role of CEO.
"Ms Morparia offers J.P.Morgan a tremendous opportunity to accelerate the progress we've made in building our Indian franchise. Her appointment is also further evidence of the importance which J.P. Morgan places on India as a priority within the firm's global growth strategy," he said.
Ms Morparia said she was delighted to join J.P.Morgan, and to have the opportunity to lead the firm's expansion in India.
"J.P. 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." she said.
Ms Morparia's role will include membership of J.P.Morgan's Asia Pacific Executive Committee and involvement in the development of several global initiatives being led out of the firm's New York office.