Page 11 - Insurance Times May 2019

LIC of India

News

Vipin Anand takes over as MD of LIC Kadiresan is zonal man-
Vipin Anand has taken charge as Managing Director of LIC ager of LIC
of India. Prior to this, he was in charge of LIC's Western Zone,
headquartered at Mumbai. During his service of more than K Kadiresan has been appointed
zonal manager of
35 years with the organisation, Anand has handled several
the LIC in South. He
assignments in various capacities and departments, includ- will oversee the op-
ing information technology, marketing, personnel and indus- erations of 13 divi-
trial relations, corporate communications, and international sional offices, 261
operations across different locations in India. He was instrumental in setting
branch offices and
up LIC's operations in Singapore and Bangladesh.
262 satellite offices
in Tamil Nadu and Kerala,
IDBI Bank, subsidiary of LIC is set to hire around 950 people Puducherry and Lakshadweep. Prior
IDBI Bank has called for applications for nearly 950 positions, many of them in to this posting, Kadiresan was an
specialised roles, after the bank was taken over by LIC. Apart from assistant Executive Director (Pension and
managers, specialist cadre officers, executives on contract Group Schemes) at LIC, Mumbai.
and chartered accountants, IDBI Bank is also looking for
executives to take up the roles of chief compliance officer, Mini Ipe is zonal manager
chief risk officer, treasury head, chief technology officer, of LIC
human resources head and data analytics head. Mini Ipe has taken
Among the vacancies advertised by the lender are those for positions of 515 charge as Zonal
assistant managers, 309 executives on a contractual basis, 120 specialist cadre Manager of Life In-
officers and 40 chartered accountants. Earlier this year, the bank had sought surance Corporation
applications for the posts of two deputy managing directors (DMDs), currently of India, South Cen-
held by KP Nair and GM Yadwadkar. It has also sought bids from consultants to tral Zone, here. She is the first
carry out an organisational restructuring and help tap synergies between the woman zonal manager (in-charge) of
the corporation. Prior to the present
lender and its new promoter.
assignment, she worked as Executive
The ongoing recruitment process is a part of the lender's move to shift away Director (International Operations) of
from its legacy of corporate-driven profile to a more retail-focused strategy. In LIC looking after the foreign opera-
one of the public notices seeking applications, IDBI Bank said, "The bank is tions of LIC’s subsidiaries, joint ven-
focusing on multi-fold retail business growth comprising diversified product mix tures and branches. She also worked
and third party products (TPDs), aimed at being a bank of the future. The in- as Director and CEO of LICHFL Finan-
crease in business and retail focus provides opportunity and generates a need cial Services Ltd. The South Central
to redesign and re-align the organisational strategies of the bank." Zone has Telangana, Andhra Pradesh
IDBI Bank has an aggregate balance sheet size of Rs 3.33 lakh crore and its total and Karnataka under its jurisdiction.
business stood at Rs 3.82 lakh crore as on December 31, 2018. The size of its She has rich and diverse experience
branch network was 1,894 on the same date. in LIC, according to a release.

The Insurance Times, May 2019 11