ICICI Bank legal HQ, BKCICICI Bank legal HQ, BKCExclusive: ICICI Bank general counsel Pramod Rao is due to leave the bank by April end to enter private practice, according to sources close to the company. He will be succeeded by ICICI Ventures head of legal and compliance Sanker Parameswaran.

Sources close to Rao told Legally India that he was planning to go into legal private practice at an existing firm, or start up a new law firm by himself or with others.

Rao declined to comment when contacted at the time of going to press.

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Pramod Rao: Going private?Pramod Rao: Going private?Once Rao leaves at the end of April, Parameswaran is understood to take over leadership of India’s largest in-house legal team of more than 400 lawyers within ICICI Bank, excluding subsidiaries or sister companies.

Parameswaran was formerly vice-president legal at the Indian Hotels Company, and in-house at Amway India and other companies.

Rao started as ICICI Bank general counsel around 2005, when the in-house team was around 120 lawyers in size. He had graduated from NLSIU Bangalore in 1996 from where he joined ICICI Limited after a short stint at Mulla & Mulla.

It is understood that Rao had formally announced his departure within the bank on Wednesday evening (22 February).

An ICICI spokesperson was unavailable for comment at the time of going to press.

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1
 
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Recommend! +2 Objection! -0 1 2012-02-24 16:33
Wonder if he is going to replace Bhojani at AMSS..
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Recommend! +1 Objection! -0 a 2012-02-24 16:51
quite possible and if not replace, will add up at AMSS.


Quoting 1:
Wonder if he is going to replace Bhojani at AMSS..
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Recommend! +1 Objection! -0 Hmmm...just wait n watch 2012-02-24 17:11
Must've got a real good package from AMSS else he had no reason to quit ICICI which would've elevated him to DMD soon enough.

And, clearly, inorganic growth is the only way for AMSS to acheive the 100-100-1000-1000 aim. Stay tuned for more to come... AMSS will try and 'buy' every major talent in the industry!!!
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Recommend! +0 Objection! -0 b 2012-02-24 17:05
Rao cannot fill in the shoes of Bhojani !
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Recommend! +0 Objection! -0 1 2012-02-24 17:24
May be true...but he can surely ensure that the AMSS still continues to bill ICICI..also do not forget CSS is a very good banking lawyer himself
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Recommend! +0 Objection! -0 Delhi lawyer 2012-02-24 17:53
Where it is written he is joining AMSS ?
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Recommend! +0 Objection! -0 In House Counsel 2012-02-24 18:00
Or he may just join his friends either at Trilegal or KCo.
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Recommend! +1 Objection! -0 Anonymous 2012-02-24 20:22
Why would a top notch lawyer likepramod join anything less than Amss . It's perfect for him. Especially given the long history of Amss and icici. Anything else would be a huge let down. He is also a good manager and that can be useful for Cyril who is getting very stretched with so many things. Wonder what they will do with their no poach pact though. High time they scrapped it once and for all. Lot of people in icici would want to join Amss but have to go go to azb etc because of this stupid pact. Amss is a much better firm than azb . Far more professional despite all the noise about family etc ! PRAMOD would be a fabulous fit for Amss and vice versa.
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Recommend! +0 Objection! -0 curious 2012-02-25 04:25
why is amss a much better firm than azb?
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4
 
Recommend! +5 Objection! -0 Anonymous 2012-02-25 07:24  interesting
To 3.1 ..... Because Amss is a real firm with institutional structures. Azb is only zia .It runs on her moods. It's not a proper firm . It will not exist in a meaningful way without her. ... Everyone knows that in the market.
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Recommend! +2 Objection! -0 In House Counsel 2012-02-27 10:47
Someone as senior in the ICICI hierarchy like Pramod, to the extent that he was considered for elevation to the board, won't move to a place where he has no say in the running. Although there is a lot of speculation that he may start his own firm, its likely that Luthra (which has recent track record in poaching ICICI lawyers), Khaitan (NLS connections and lacking a punchy name in banking) and Trilegal (NLS and A&O connections, solid banking background) are more likely destinations.
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Recommend! +0 Objection! -0 Anonymous 2012-02-28 22:14
He will start his own firm! Inside news boss ! Even if he joins a big firm he won't stay there, too much of a maverick!
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Recommend! +0 Objection! -0 Anon 2012-03-01 16:23
Quoting Anonymous:
He will start his own firm! Inside news boss ! Even if he joins a big firm he won't stay there, too much of a maverick!


i think he will start his own law firm..
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Recommend! +1 Objection! -0 In House Counsel 2012-03-02 17:52
Yes, because nothing shouts "maverick" quite as working for a small, niche organisation like ICICI.
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Recommend! +0 Objection! -0 LPQ 2012-03-05 02:38
Small firm or big firm, Pramod will need to drastically change himself if he wants to succeed. His ICICI style won't cut much ice in the market.
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