Wipro Alter Unit To Make Banking Outsourcing Base

Wipro ,India’s third largest software exporter has undertaken wipro_Logoanother reorganize in its key Banking, Financial Services and Insurance (BFSI) business, by splitting it between two leaders ,one overseeing the US and other key markets and the other overseeing Europe and South Africa.

In an internal announcement on Friday, Wipro said Angan Arun Guha  currently global head of Citigroup business unit at the company will head North America, Australia, India, Middle East and emerging markets. Wipro has plucked out Shailendra Singh from the South Africa division to oversee the rest of the world. Citigroup is one the top customers for Wipro globally.

Both Guha and Singh will report to Shaji Farooq  a former Infosys veteran who joined Wipro in 2012 and currently heads the BFSI business. The new structure will be in place from April 1.

Restructuring in the BFSI business comes as the Bengaluru-based firm is desperately trying to catch up with rivals such as TCS, Infosys and Cognizant in the banking outsourcing sector, after lagging for years.

“Under this structure, while Angan Arun Guha, vice president will lead the vertical in North America, Australia, India, Middle East & Emerging Markets. Shailendra Singh, who heads Wipro’s operations in South Africa, will lead the BFSI vertical in Europe & South Africa. Both Angan and Shailendra will report to Shaji Farooq, chief executive and global head  BFSI, Wipro,” the company said in a statement.

Wipro generates just over a quarter of its overall revenues from the BFSI business, which pales in comparison to rivals such as TCS, US-based Cognizant and even cross-town rival Infosys, which has lagged industry growth rates over the last 4 years and lost its prized bellwether tag.

TCS generates about 45% of its overall revenues from its banking business, while Infosys generates about 35% from such clients. The latest reshuffle also comes after previous banking and financial services head Rajan Kohli moved to a new role to head Wipro’s digital business and after banking products head Balasubramanian Ganesh exited Wipro.

Filed in: Business, News

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