IDFC, an integrated infrastructure finance player, has appointed Arun Raste as senior director & head–corporate communications
IDFC, an integrated infrastructure finance player, has appointed Arun Raste as senior director & head-corporate communications.
Mr Raste brings with him about 20 years of experience across diverse sectors.
Prior to joining IDFC he was with Kotak where he was instrumental in driving successfully the Communication and CSR function for the group. Mr Raste will head the brand and communications function for the IDFC group.
Mr Raste has also worked in ACC and NABARD.
IDFC is a leading knowledge-driven financial services company in India and plays a central role in advancing infrastructure development in the country.
The company provides a full range of financing solutions to its clients. Established in 1997 as a private sector enterprise by a consortium of public and private investors, the Company listed its Equity Shares in India pursuant to an initial public offering in August 2005.
Mukesh Ambani will stand for election at the 2011 Bank of America annual meeting of shareholders
The Bank of America Corporation board of directors have appointed Mukesh Ambani, chairman and managing director of India-based Reliance Industries Ltd, as a director. Mr Ambani will stand for election at the 2011 Bank of America annual meeting of shareholders.
"Bank of America's shareholders will benefit from the global perspective Mr Ambani brings to our board," said Charles O Holliday, Jr, Bank of America chairman. "He has demonstrated expertise in risk management and strategic planning across a diverse range of businesses, including energy, information and communications technology, and retail networks."
"I am delighted to join the board of Bank of America," said Mr Ambani. "It is a privilege and a great honour for me, as the first non-American citizen to join the board of one of the world's largest financial institutions. I look forward to contributing to the growth and progress of Bank of America."
Mr Ambani, 53, has headed Reliance Industries, India's largest private business enterprise with $44.6 billion in annual revenues and over $70 billion in market capitalization, since 2002.
"Mr Ambani has a reputation for strategic vision and operational excellence," said Brian T Moynihan, Bank of America chief executive officer. "The management team looks forward to benefiting from his judgment and experience."
Mizuho, the second-largest financial services company in Japan, has blocked its customers from accessing cash. The bank did not immediately give a reason for the outage, according to this report.