UBS Girotra

UBS loses India CEO

UBS India CEO Manisha Girotra resigns at a time when the investment banking units at both UBS and rival firm, Credit Suisse, are being restructured.

Manisha Girotra, who was head of UBS in India, has resigned and the Swiss bank has appointed Aashish Kamat to replace her. The departure comes amid a downsizing at both UBS and Credit Suisse, which some sources say is focused on reducing investment banking.

Girotra was a UBS veteran who worked with the Swiss bank for more than a decade. She was head of UBS Securities in India until 2009, when the Swiss bank launched full-fledged banking operations in India, and thereafter became group CEO for India. Under her watch UBS has built an enviable position in investment banking in India and, specifically, is considered a force to reckon with...

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