Russell Parera, former CEO of KPMG India, has joined Price Waterhouse, one of the PW India Network Firms. Based out of Mumbai, Russell will lead client service and head the assurance markets and industries initiative in the PW India Network Firms.
Deepak Kapoor, Chairman PwC network of entities in India said, “Russell’s diverse experience will complement our network of audit firms in India to deliver the high quality of services to the clients.”
With 25 years experience across a cross section of industries, Russell’s core industry focus has been the financial services sector, the company said.
The move comes after a slew of top level management changes at KPMG in India in October 2012, when Parera, who worked in KPMG for over six years, was replaced as CEO by Richard Rekhy.
Rekhy, who was then Head of Advisory, KPMG India, has been with KPMG in India for more than 10 years and has held many leadership positions in the firm.
Recently, Vikram Hosangady was appointed as the head of private equity advisory practice at KMPG India, succeeding Vikram Utamsingh. Hosangady will also continue to head the transaction services practice, where he has worked on more than 150 India-based and overseas transactions.
VCCircle had first reported that KPMG’s head of transactions and restructuring Vikram Utamsingh had quit. Utamsingh also led KPMG India’s Private Equity Industry Group, which counts Blackstone, Advent, Warburg Pincus and Bain Capital among its clients.
According to media reports, Sunny Banerjea, the head of KPMG India’s management consulting division and Sangeeta Singh, head of human resources, have been replaced as well.
(Edited by Prem Udayabhanu)