AZB & Partners Mumbai will hire former State Bank of India (SBI) chairwoman Arundhati Bhattacharya as a senior consultant, we reliably understand.
AZB Mumbai managing partner Zia Mody did not respond to requests for comment since earlier today.
Bhattacharya was the first female chair of SBI and has had a long career since 1977 with a variety of SBI companies, working her way up the career ladder.
In 2016, she was amongst Forbes magazine’s 25 most powerful women in the world and has received a number of other accolades.
She had retired in October 2017.
Several days ago it had also been reported that she had also joined the board of Reliance Industries.
Bhattacharya joins the ranks of senior and retired public and private sector bankers who’ve joined law firms in similar roles.
AZB had hired RBI executive director G Padmanabhan in 2015, but it’s mostly been Amarchand Mumbai that’s been the frontrunner there.
Ex-SBI senior hand Pradeep Kumar Bagga joined Cyril Amarchand Mangaldas in 2015, Amarchand Mangaldas, as it then was, nabbed ex-Reserve Bank of India (RBI) governor Anand Sinha in 2014, and earlier this year, ex-SEBI chief UK Sinha had also joined CAM.
Editor’s note: Are there any others we’ve missed?
Photo by Biswarup Ganguly
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As per the novel, Zeenath Tody {owner of the law firm Chambers of Zeenath Tody which merged to form ZAB Partners} is rather fervid about timesheets.
One wonders what else is true ?
Clearly, they're investing in marketing.
I'm veally scared !
CAM also has a former SEBI chairman in some "consultative" capacity. I really do wonder, what exactly these guys do. My guess:
1. Definitely not involved in transactions
2. Might give macro-level/strategic guidance to mega-transactions
3. Might represent the firm at conferences/stakeholder summits
4. Might make introductions in an informal capacity with relevant divisions/senior officials at their old organisations/govt
Though these aren't directly transaction related, having people like this on your team is certainly an asset - as long as your careful to ensure that it doesn't look like you are keeping a revolving door to facilitate lobbying.
Jokes apart, good to see firms hiring senior members of the industry who can bring practical solutions to the table.
The fact is industry do not need them or want them, the Government do not see there use anywhere. Under Indian circumstances, only options left are consulting or law firms. Consulting firms do not need them (because these people do not know how to operate computers much less work on MS Excel or Word). Left are the law firms!!!
While the millennials are worrying about retiring early at the ripe age of 35 in some cases, I shudder to think about this womans energy level.
She indeed is very powerful(pun intended).
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