MC Insider: A CEO race, conglomerate shake-ups and a capital shift

That many private banks are due for leadership changes over the next year or two is no secret. But what’s happening at one large private bank has particularly caught the street’s attention lately.
Some say that if you read between the lines, the stock’s recent behaviour hints that a change of guard may be around the corner.

Who would it be is the question. There are two strong candidates. One contender already occupies a sprawling corner office. The other may not have that massive office yet, but does share the same address as the current leader. Results of this close contest should be known by the end of the year. Either way, this contest is one transition the street is watching very closely.

This homegrown conglomerate recently announced its entry into the insurance sector through an equal joint venture with a Canadian partner. But many are wondering whether this move is just the opening act of a bigger shake-up.

Its lending arm, which saw a leadership change a few years ago, still hasn’t quite won over investors, and the promised targets seem to be drifting out of reach. Now, a veteran from the banking sector who quietly exited his previous institution after more than 30 years has joined the group.
In fact, we hear walls were torn down to create a new office for him within the financial services vertical. Is that a sign of change once again?

For years, this bank was known to have two head offices, with its earlier chief dividing his time between the country's capital and its financial capital.

Naturally, two power centres emerged. But with a Bombay boy at the helm now, the two-head-office model seems to be quietly winding down. This is causing tension in the Delhi office, especially among the bigwigs known to be the old-timers holding critical decision-making powers.
It now looks like the bank’s real HQ is finally shifting to India's financial capital. Mumbai meri jaan, indeed!