Kalpana Morparia, who has been integral to the evolution of the ICICI from a development finance institution to being India's second largest bank, has resigned. She will now be joining JP Morgan, financial services giant, as the chief executive officer (CEO) for its India operations.

During the three decades that she served the ICICI, Morparia came to be known as one of the prominent faces of the bank and a trouble shooter. A formal statement was issued by the JP Morgan in this regard. Gaby Abdelnour, the JP Morgan chairman and chief executive of JP Morgan Asia Pacific, said welcomed Kalpana Morparia into the family in the statement.

The 'appointment of Kalpana Morparia as chief executive officer for Indian operations offers JP Morgan a tremendous opportunity to accelerate the progress we have made in building our Indian franchise,' Abdelnour  stated. The former ICICI employee too expressed her happiness over joining the new company.