Moneycontrol Bureau
Shares of Wipro gained more than 2 percent intraday Monday after the country's third largest IT exporter reshuffled its top management team at BFSI unit.
This unit will be split between two leaders. Angan Arun Guha, who is currently the head of Citigroup business unit at Wipro, will head North America, Australia, India, Middle East and Emerging Markets while Shailendra Singh, who currently heads South Africa division, will oversee the rest of the world. This will be effective April 1, 2015.
This was another round of reshuffling after the appointment of former TCS BPO head, Abid Ali Neemuchwala, as Wipro's COO.
Confirming the development, Wipro Enterprises told CNBC-TV18, "Wipro will align its banking and financial services unit along geographical lines, effective April 1, to better serve the needs of its global client footprint and further improve competitiveness. Both Angan and Shailendra will report to Shaji Farooq, Chief Executive and Global Head – BFSI, Wipro.”
"Under this structure, while Angan Arun Guha, vice president will lead the vertical in North America, Australia, India, Middle East & Emerging Markets, Shailendra Singh, who heads Wipro’s operations in South Africa, will lead the BFSI vertical in Europe & South Africa," the company said. This reshuffle came at a time when the BFSI head, Rajan Kohli, was moved to a new role as the head of Wipro’ digital world. It may be noted that Wipro’s BFSI business is only a quarter of its overall revenue.
The company had recently elevated two executives who head services lines - Bhanumurthy BM and GK Prasanna as presidents of Wipro and they will report to Neemuchwala. The company hopes that this move will help it get back to industry beating growth numbers.
At 09:49 hours IST, the scrip of Wipro was quoting at Rs 619, up Rs 7, or 1.14 percent on the BSE.
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