JPMorgan South & Southeast Asia CEO to retire

The Chairman and CEO of South & Southeast Asia for JPMorgan, Kalpana Morparia is reportedly planning on stepping down from her role in Q1 2021.

Morparia first joined the firm in 2008, and in addition to her regional roles acts as the Senior Country Officer for JPMorgan in India, based in Mumbai. Speaking of the offer to join the firm, Morparia said: “Out of the blue, I received this offer from JPMorgan. This was again one of the great turns of fate that I joined a great organisation like JPMorgan. Despite all the negative clouds you see today in the country, I believe in the great growth story of India. JPMorgan is extremely focused on serving its clients in India,” shared in an article by Business Today.

Prior to joining the American firm, she was affiliated with ICICI Bank, an Indian multinational banking and financial services company, for over three decades.

She first joined ICICI in 1975, beginning in the bank’s legal department, as she pursued a Law degree following her science-focused studies. In 1991, Morparia travelled to the USA to study capital markets at Davis Polk & Wardwell. Subsequently, she enacted the listing of ICICI Bank in 1999 on the New York Stock Exchange and is credited with the 2002 merger of ICICI Bank and ICICI.

Morparia will be succeeded by Madhav Kalyan as Senior Country Officer for JPMorgan India, who currently serves as Managing Director and CEO for the India operation, entering the role in Q4 2009, according to his LinkedIn.

Leo Puri is reportedly going to be appointed as Chairman of South & Southeast Asia, joining JPMorgan in Q1 2021, and Murli Maiya will take up the reins as CEO. Both will report to JPMorgan’s CEO for Asia Pacific, Filippo Gori, according to an article by ET Now News.

In a statement, JPMorgan said: “Kalpana Morparia, Chairman, South and Southeast Asia, informed the firm of her desire to retire. She has agreed to stay with the firm until Q1 2021, and help lead the firm’s efforts in South and Southeast Asia as we and our clients adapt to the new economic and work environment.”

“Leo is a very senior and experienced finance professional who will bring a wealth of industry knowledge and depth of relationships. He will be dedicated to covering our critical external stakeholders, including key clients, regulators and industry bodies,” the company statement continued.