JPMorgan's Kalpana Morparia Set to Retire, Leo Puri to Take Over
Kalpana Morparia, chairman, South and Southeast Asia, JPMorgan, has announced her desire to retire from the American bank, after more than a decade at the helm.
She will stay on with the bank till the end of the first quarter of fiscal year 2021 and oversee her succession.
Leo Puri, who was the managing director and chief executive of UTI Mutual Fund, will take charge as the new chairman of South and Southeast Asia of JPMorgan.
Puri had joined the struggling asset management company (AMC) in 2013 from Warburg Pincus India, where he was the managing director.
Puri stepped down from the AMC in 2018 after domestic investors State Bank of India (SBI), Life Insurance Corp. of India, Punjab National Bank and Bank of Baroda, locked horns with the single largest investor, the US's T Rowe Price.
Zomato Elevates CEO of Food Delivery biz Mohit Gupta as Co-Founder
Online food delivery platform Zomato has elevated the CEO of its food delivery business, Mohit Gupta, to the position of co-founder.
The Ant Financial-backed firm now has four active co-founders: Deepinder Goyal, Gunjan Patidar, Gaurav Gupta and Mohit Gupta.
Pankaj Chaddah, who set up Zomato in 2008 with Goyal, quit the company after a ten-year stint. In 2019, he set up healthtech platform Mindhouse.
Renowned Urdu writer and Padma Shri winner Mujtaba Hussain passed away in Hyderabad after suffering cardiac arrest.
Born on 15 July 1936, Mujtaba Hussain was known for his humorous writings and columns in Urdu newspapers and books.
Some of his notable works include his autobiographical satire titled Apne Yaad Mein, and his other writings like Urdu ke sheher urdu ke log, Behar hall, Safar lakht lakht and Mera Column.
He was awarded the Padma Shri in 2007.
Brazil's Marcos Troyjo is NDB's New President
Marcos Prado Troyjo, former deputy economy minister of Brazil will replace KV Kamath as the president of the New Development Bank's (NDB), a multilateral financial institution set up to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies.
The board of governors also appointed Anil Kishora, an Indian, as vice president of the NDB. Kishora, a banker, has 38 years of experience at India's largest bank, State Bank of India (SBI).
Before joining the NDB, he worked as the deputy managing director and chief risk officer of the state-run SBI.
Hong Kong's "King of Gambling", Stanley Ho Passed Away at 98
Stanley Ho, one of the richest men in Asia, the head of Sociedade de Jogos de Macau(SJM) holdings and famously known as the Casino kingpin of Gambling Capital Macau passed away at the age of 98 at the Kong Sanatorium and Hospital.
He was born in 1921 in Hong Kong.
He was a member of the advisory body to the legislative the Chinese People's Political Consultative Conference (CPPCC).
He was a member of the advisory body to the legislative the Chinese People's Political Consultative Conference (CPPCC).
May 27, 2020
Renowned Vocalist Shyamala Bhave Passes Away at 76
Noted Classical musician Shyamala G. Bhave, who was well versed in both the Hindustani and Carnatic styles passed away at the age of 79 in Bengaluru, Karnataka.
She was born on March 14, 1941, in Bengaluru, Karnataka.
She was honoured with the title of 'Ubhayagaana Vidushi' (expert in both styles) by Sir M Visvesvaraya, the 19th Diwan of Mysore.
May 26, 2020
Indian-Origin Physician Appointed to New York's Commission on Economic Recovery
Pulitzer winning Indian-American physician, Siddhartha Mukherjee has been appointed as a member of New York's commission that will focus on jumpstarting the state's economy, which has been badly hit by the coronavirus pandemic.
Another Indian-origin higher education leader, Satish Tripathi has also been named as a member of the commission by New York Governor Andrew Cuomo.
The New York Governor made the announcement on May 24, 2020. He stated that New York's Blue-Ribbon Commission will focus on improving telehealth and broadband access using new and innovative technologies.
May 25, 2020
World Bank Names Carmen Reinhart as Chief Economist and Vice President
The World Bank named former Bear Stearns executive Carmen Reinhart as its new vice president and chief economist, tapping an expert on financial crises who also serves on the advisory board of the New York Federal Reserve.
Reinhart, a professor at Harvard University, published a book entitled "This Time is Different: Eight Centuries of Financial Folly," together with economist Kenneth Rogoff of Harvard University in 2009.
Jahnabi Phookan Appointed as National President of FICCI FLO
Jahnabi Phookan has been appointed as National President of FICCI Ladies Organization (FLO), the oldest women-led and -focused business chamber of Southeast Asia and the women's wing of the apex chamber Federation of Indian Chambers of Commerce and Industry (FICCI).
She took over from outgoing National President Harjinder Kaur Talwar at the 36th FLO Annual Session - Rising Above Covid Challenges in the presence of Lok Sabha Speaker Om Birla.
FICCI FLO represents over 8000 women entrepreneurs and professionals across 17 chapters nationally and works aggressively towards promoting economic empowerment and equal opportunities for women.