Wipro’s Balasubramanian Ganesh, head of banking products and solutions group, has resigned, says report.Report said that the company has merged the division with its key banking, financial services and insurance (BFSI) business a week.The company also appointed TCS veteran Abid Ali Neemuchwala as group president and chief operating officer.Shaji Farooq, Wipro’s current BFSI head, will lead the combined entity.
“Balasubramanian Ganesh, who successfully set up and led Wipro’s Products and Solutions Group (PSG), has decided to pursue a career outside of Wipro,” a company spokesperson said. Ganesh, who was styled ‘chief executive’ of the products and solutions business, has joined one of Wipro’s banking customers as deputy global chief information officer, two people familiar with the developments said, requesting anonymity.
Wipro’s PSG, set up 1.5 years ago, will merge with the company’s BFSI strategic business unit, in keeping with evolving market demand and customer expectations, the spokesperson said in an e-mail. Farooq is expected to announce the new structure of the BFSI business shortly, the spokesperson said. Wipro also announced Ganesh’s resignation in an e-mail to employees on Monday.
Ganesh, who joined Bengaluru based Wipro in July 2013, was a senior vice-president reporting to CEO TK Kurien.He came from Lloyds Banking Group, where he was chief technology officer. Kurien hired him to bolster Wipro in an area where it had been relatively weak compared to peers.
Revenue from the BFSI businesses contributed about 25% to Wipro’s sales, compared with about 45% for Tata Consultancy Services and 35% for Infosys. The management changes come as IT services transform rapidly.