Wipro has promoted Shaji Farooq as the President and Chief Executive of the banking and financial services division and will be a part of the Global Executive Council (GEC).

GEC carries the mandate of providing thought leadership across the Group and is the driving force behind shaping its strategic priorities. In April, the company elevated four new executives to its GEC. These included Abid Ali Neemuchwala, Group President & Chief Operating Officer, along with Anand Padmanabhan — Chief Executive & President of the Energy & Utilities division, G K Prasanna – Chief Executive & President of Global Infrastructure Services business and Bhanumurthy B.M – who heads Business Application Services.

Wipro confirmed the development and in a statement said: “Shaji Farooq has been promoted as President and Chief Executive, BFSI effective from October. He has also been inducted into the Group Executive Council, a group of Wipro leaders to strategise the long-term vision for the corporation.”

Farooq is a former Infoscion and joined Wipro sometime in 2012. He will continue to report to TK Kurien, Chief Executive Officer and Member of the Board, the statement added.

The banking and financial services contributes 26.7 per cent to Wipro's revenues and is the top performing business within the $7.6-billion IT major. However, this vertical is facing some headwinds in areas such as insurance, which was alluded to in the second quarter results by CEO T K Kurien. He added that overall demand environment continues to be stable.

The GEC also includes Chairman Azim Premji, chief strategy officer Rishad Premji, Pratik Kumar, CEO, Wipro Infrastructure Engineering, Vineet Agrawal, CEO, Wipro Consumer Care and Lighting, Anurag Behar, chief sustainability officer, and Milan Rao, MD, Wipro GE Healthcare.

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