JP Morgan ropes in Morparia as India CEO from ICICI

HONG KONG: J.P.Morgan Asia Pacific has announced the appointment of
Kalpana Morparia as Chief Executive Officer of the firm's Indian operations.
Ms Morparia joins J.P.Morgan from the senior management of the ICICI Group,
India's largest private sector financial services company.

Ms Morparia is vice chairman of the ICICI Group's insurance,
asset management and securities companies, and Chief Strategy and
Communications Officer. She joined the board of ICICI Bank in 2001 and held
the position of Joint Managing Director until last year, before assuming her
current role with the group.

During her 33 year career with ICICI, Ms Morparia played an
influential role in the firm's expansion. Her term at ICICI Group placed her
at the forefront of the transformational changes which have reshaped the
country's banking industry.

Mr Gaby Abdelnour, the Chairman and Chief Executive of
J.P.Morgan, Asia Pacific said he warmly welcomed the experience and knowledge
which Ms Morparia will bring to the role of CEO.

"Ms Morparia offers J.P.Morgan a tremendous opportunity to
accelerate the progress we've made in building our Indian franchise. Her
appointment is also further evidence of the importance which J.P. Morgan
places on India as a priority within the firm's global growth strategy, " he
said.

Ms Morparia said she was delighted to join J.P.Morgan, and to
have the opportunity to lead the firm's expansion in India.

"J.P. Morgan has established a strong and highly respected
franchise in India which will support plans to expand all three lines of
business-- Investment Banking, Asset Wealth

Management and Treasury and Securities Services." she said.

Ms Morparia's role will include membership of J.P.Morgan's
Asia Pacific Executive Committee and involvement in the development of
several global initiatives being led out of the firm's New York office.