Former UTI CEO Leo Puri to take charge of JP Morgan India | Kalpana Morparia will retire after 12 years

Former CEO of UTI, Leo Puri will take over as chairman of foreign investment bank JP Morgan India. Kalpana Morparia, a well-known banker, will retire in the first quarter of 2021. Morparia commended the bank for the last 12 years. This change has come when the Supreme Court has ordered the attachment of JP Morgan's property in the Amrapali Group case. The bank has given information in its internal memo that Leopuri will take charge of the bank. However, Kalpana Morparia will continue in office till then. JPMorgan has said that Kalpana Morparia, chairman of South and South East Asia, appealed to retire from the company. She will remain in the bank until the first quarter of 2021. She will also continue to help the bank in South and Southeast Asia. The reason is that the company and customers are trying to balance with the new economic and work environment.

Kalpana Morparia worked at ICICI Bank for 33 years before joining JPMorgan. During his tenure, ICICI Bank CEO was KV Kamath and the bank was established as a retail bank in term lending companies. Madhav Kalyan, acting as CEO of JP Morgan Indian Business, will be appointed as Senior Country Officer from 2021. For this, the necessary approval of the regulator will be obtained. He will report to Murali Maiya and Murali Maiya will become the CEO of South and South East Asia. Kalpana Morparia is currently 70 years old. She became the CEO of JP Morgan in 2008. In 2016 she reached the regional role. Prior to this, she worked in several roles in ICICI Group. He joined ICICI Bank in 1975. In 2001 she was elected to the board. In 2007, she retired from the board as Joint Managing Director.