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The Managing Director and Chairperson of UBS India, Manisha Girotra has resigned on Wednesday. Switzerland’s biggest bank UBS AG named Aashish Kamat as Chief Executive Officer and said he would take over with immediate effect.

The memo told, “Manisha Girotra has informed us of her decision to retire from UBS at the end of the year to focus on developing the next phase of her career.”

Aashish Kamat joined the bank in June 2001 as chairman, financial institutional coverage for its business in Asia Pacific. He is likely to relocate to Mumbai over the next few months. Prior to UBS, he had been working with J P Morgan Chase as the chief financial officer in Asia.

42 years old Manisha Girotra joined the bank in 1998 and she will help in the transition before formally retiring in December. According to the people close to the development, Manisha is to retire from UBS to focus on the next phase of her career. She was involved with various big cross-border deals like UK-based Vodafone’s acquisition of a stake in Indian GSM operator Hutchison Essar, United Spirits’ buyout of Whyte & Mackay and Hindalco’s deal to acquire Novelis.

The bank had sent a mail to its employees naming Aashish Kamat as the new CEO.

UBS India names Kamat as new CEO
Originally published on: All India Today

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