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Cognizant’s head of banking and financial services Debashis Chatterjee has decided to move on from the company.
“Debashis Chatterjee has decided to move on. His contribution to the growth and development of Cognizant and our BFS practice has been solid,” a company spokesperson said.
He was serving the IT services provider for over 14 years and was heading the banking and financial services for over seven years.
Mr Jaideep Poondir, Vice-President, BFS Practice, will take over charge from Mr Chatterjee.
“Cognizant has robust succession planning mechanisms and a Two-in-a-Box structure running across the company. We have already identified another Cognizant veteran to succeed Debashis Chatterjee,” the company’s spokesperson added.
Earlier during the year while announcing the fourth quarter results, Cognizant had said it would invest about Rs 2,274 crore in the India over the next four years.
Cognizant, which competes with Indian IT firms such as TCS, Infosys and Wipro, has spent over $500 million in building its infrastructure in India.
The Nasdaq-listed company had reported 43 per cent jump in net profit to $206.16 million for the fourth quarter ended December 2010 over the same period last year.
For the fourth quarter, revenues grew by 45.2 per cent to $1.31 billion over the same period last year.
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