Ajay Banga is the new COO of MasterCard
MasterCard has announced the appointment of Ajay Banga as their new president and chief operating officer.
Banga was previously the chief executive officer of Citigroup Inc.’s Asia Pacific unit.
He would now join MasterCard on August 31.
He would be directly reporting to Robert Selander who is leaving the [...]

Citi India might announce job cuts
Wall Street Journal has reported that the Indian division of Citi could soon announce a major job cut initiative.
CitiFinancial India could cut as many as 1000 jobs in their operations in the country.
Citi India representative had this to say on the reports in the media: “We have said before [...]

GE Capital to reorganize to cut costs

US based GE has announced that they would launch a reorganizing process at their GE Capital division.
The aim is to cut costs and save $2 billion next year.
GE said that the newly structured company would be ready by the start of next year.
The economic slowdown is hurting everyone apparently [...]

Citigroup to cut more than 52,000 jobs
Citigroup has announced a major job cut in their operations. The company is going to cut more than 52,000 jobs in the coming months.
The financial institution is aiming to reduce expenses by 20 per cent in 2009.
The company added that they are aiming to reduce the total head count [...]

K.V. Kamath: ICICI Bank is healthy and fine
Rumors in the market suggested that ICICI Bank was going to take a massive hit from the ongoing global credit turmoil.
Denying these rumors, ICICI Bank CEO K.V. Kamath has come out with a statement saying: “I just want to reiterate ICICI Bank is an extremely healthy institution. We [...]

ICICI Bank set to open a branch in New York
ICICI Bank has announced that they are all set to open a branch in New York.
The bank said in a statement: “We already have got approval from the US regulator; it will come up in few weeks.”
This new branch would deal in wholesale banking business, including [...]

McDonald’s to offer Reliance Money branded services

Reliance Money has announced that they are now collaborating with the fast food chain McDonald’s to offer their services through their counters throughout the country.
McDonald’s in India would now provide Reliance Money services like free trading account, gold coin retailing, mobile financial portal, Reliance money express, etc.
They would now [...]