Mr. SM Datta and Mr. V.Raghunathan step quit SBI Cap
Mumbai: Mr. SM Datta has stepped down from the board of SBI Capital Markets, the merchant banking firm promoted by State Bank of India. Mr. Datta, who was formerly chairman of the Hindustan Lever Ltd., has given his resignation last week. Along with Mr. Datta, Mr. V Raghunathan, professor, IIM (Ahmedabad) has also put in his papers.

Mr. Raghunathan is stepping down as he is joining Vysya Bank as president and there could be conflict of interests. Mr. Datta is already in the boards of several companies and has chosen to step down from SBI Caps, as according to the new norms in the Companies Act, a non-executive director cannot be on the board of more than 15 companies.
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Mr. Deepak Roy to head UDV's Asia operations
Mumbai: Mr. Deepak Roy, managing director, United Distillers and Vintners’ Indian operations has been chosen as head of South Asian and Russian operations of the international liquor major.
Mr. Roy will be heading the largest geographical division of UDV, the no-1 spirit manufacturer in the world with a volume of 100 million cases and a profit of 1.2 billion pound sterling.
Mr. Abhijit Sanyal, who has been appointed the new Chief Operating Officer in charge of the Indian operations. Prior to this appointment, Mr. Sanyal was vice president, marketing, International Best Foods. Mr. Sanyal has served for over five years at Bausch & Lomb.
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Mr. K. Balasubramaniam is new Vysya Bank MD
Mumbai: Mr. K Balasubramaniam has been inducted as the new managing director of Vysya Bank. Mr.Balasubramaniam was formerly the country manager of American Express Bank.
The bank has also appointed V Raghunathan, head of finance and accounting faculty at the Indian Institute of Management, Ahmedabad, as the president.
The new appointments come in the wake of Reserve Bank of India norms requiring directors of banks to have professional experience in the banking sector. The top management revamp is also part of the business strategy adopted last year by Vysya Bank to create six strategic business units to manage the bank’s entire business. These are retail banking, rural banking, corporate banking, commercial banking (trade finance), retailing financial products and treasury operations. All these SBUs are independent profit centres.
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