Managing Director Manisha Girotra quits UBS
Manisha Girotra, the chairperson and managing director of the Indian unit of Swiss banking giant UBS AG is quitting the bank at a time when the banking behemoth is struggling with the impact of US subprime crisis and a recently unearthed multi-billion dollar trading fraud. Ashish Kamat will replace Girotra who may be headed for an entrepreneurial role in the private wealth management or private equity industry.
An alumnus of Delhi School of Economics, she started her career with ANZ Grindlays in London and later worked with Barclays. She figured in some of the early privatization deals, including government's strategic disinvestment of petrochemicals firm IPCL and its subsequent merger with Reliance Industries. Girotra was also involved with Vodafone's acquisition of Hutchison Essar, United Spirits' buyout of Whyte & Mackay and Hindalco's deal to acquire Novellis.
Source: The Times of India