Wipro goes up 2% After Reshuffle of Top Management in BFSI Unit

Published Date : Mar 30, 2015

The share price of Wipro rose over 2% in intraday on Monday after the third biggest IT exporter in India reorganized its key management team at BFSI unit.

This unit will be divided among two leaders. Mr. Angan Arun Guha, who, at present, is the head of the Citigroup business unit at Wipro, will lead Australia, North America, Middle East, India, and other emerging markets while Mr. Shailendra Singh, who leads the South Africa division, will supervise the rest of the world. This will be effective from April 1, 2015. 

This was the second round of reshuffling after the appointing the previous TCS BPO head, Mr. Abid Ali Neemuchwala, as the COO at Wipro. 

Validating the development, the Wipro Enterprises stated in an interview with CNBC-TV18, that Wipro will line up its banking and financial services facility along regional lines, which will be effective from April 1, to serve the requirements of its global client footprint in a better way and further enhance the competitiveness. Both Mr. Angan and Mr. Shailendra will report to Mr. Shaji Farooq, the Chief Executive and the Global Head of BFSI unit of Wipro.

The company stated that under this structure, whilst Mr. Angan Arun Guha, the vice president will head the vertical in Australia, North America, Middle East, India, and Emerging Markets, Mr. Shailendra Singh, who leads the operations of Wipro in South Africa, will lead the BFSI vertical in South Africa and Europe.

This reshuffle happened at the time when the BFSI head, Mr. Rajan Kohli, was transferred to a new unit in a new role as the head of the digital world of Wipro. It is to be noted that the BFSI business of Wipro is only a quarter of its entire revenue.