Morgan Stanley's Vikram Gandhi
promoted
Mumbai: Vikram Gandhi,
president of Morgan Stanley Dean Witter India, and country head for all Morgan Stanley
interests in India, has been promoted to chief operating officer of the company's global e-commerce
steering committee. Mr Gandhi will be based in New York and will work with the
company's senior management to formulate strategies to develop its internet-related
businesses and help existing businesses take advantage of the new technology. Mr Gandhi has been vice-chairman in JM
Morgan Stanley Securities and JM Morgan Stanley, two joint ventures in India. Consequent
to his moving out, Mihir Doshi, chief executive officer of JM Morgan Stanley Securities,
has been nominated vice-chairman of this company. Naina Lal Kidwai, previously executive
director of JM Morgan Stanley, will become vice-chairman of the company. Raju Panjwani,
chief financial officer of JM Morgan Stanley group, will be the new chief operating
officer of Morgan Stanley Dean Witter's Indian operations.
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Shaw Wallace MD quits
Mumbai: Ravi K. Jain, managing director of Shaw Wallace and Co, is
understood to have submitted his resignation. He is also learnt to have expressed his
desire to step down from the boards of other group companies.
Mr Jain is credited with turning around Shaw Wallace,
which is now doing well except for debts of Rs 250 crore. His action seems to have stemmed
from differences of opinion with M.K. Chhabria, chairman of the group.
Shaw Wallace has been in the news recently after Vijay
Mallya's UB group made a hostile bid to acquire three of its popular liquor brands --
Royal Challenge, Haywards and Director's Special.
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