AZB hires Arundhati Bhattacharya, ex-SBI-chair, ex-top-25-world’s-most-powerful woman, as part-time senior consultant

Monday, 22 October 2018 By Legally India Law firms

AZB & Partners Mumbai will hire former State Bank of India (SBI) chairwoman Arundhati Bhattacharya as a senior consultant, we reliably understand.

AZB Mumbai managing partner Zia Mody did not respond to requests for comment since earlier today.

Bhattacharya was the first female chair of SBI and has had a long career since 1977 with a variety of SBI companies, working her way up the career ladder.

In 2016, she was amongst Forbes magazine’s 25 most powerful women in the world and has received a number of other accolades.

She had retired in October 2017.

Several days ago it had also been reported that she had also joined the board of Reliance Industries.

Bhattacharya joins the ranks of senior and retired public and private sector bankers who’ve joined law firms in similar roles.

AZB had hired RBI executive director G Padmanabhan in 2015, but it’s mostly been Amarchand Mumbai that’s been the frontrunner there.

Ex-SBI senior hand Pradeep Kumar Bagga joined Cyril Amarchand Mangaldas in 2015, Amarchand Mangaldas, as it then was, nabbed ex-Reserve Bank of India (RBI) governor Anand Sinha in 2014, and earlier this year, ex-SEBI chief UK Sinha had also joined CAM.

Editor’s note: Are there any others we’ve missed?

Photo by Biswarup Ganguly

partner hiresAZB & PartnersState Bank of India (SBI)Arundhati Bhattacharya

Comments

Ajeebi Associate 22 Oct 2018, 14:10
+26 -0
Very good. Now I can consult her on how to open SBI bank account!!
Babaa 22 Oct 2018, 15:21
+46 -0
Will she fill in time sheets and run to enter before 10.30 am or lose half a day salary. Hmmm.
Guest 22 Oct 2018, 16:24
+27 -1
Even more importantly, how long a lunch break will she take?
Is it ? 24 Oct 2018, 01:35
+5 -0
M Rishi Kumar wrote a novel called Mota Seth. Tthe author made subtle references to counsel & law firms in Bombay.

As per the novel, Zeenath Tody {owner of the law firm Chambers of Zeenath Tody which merged to form ZAB Partners} is rather fervid about timesheets.

One wonders what else is true ?
Guest5 22 Oct 2018, 18:00
+2 -1
2016 world’s top 25 most powerful woman! Who was last from India? Indira Gandhi?
TomthePissedOffRoofer 23 Oct 2018, 11:08
+5 -0
Indira Gandhi was a PM and to say the least did quite a few things! Not a fan. That said, how much power does a PSU bank chairman (even if its country's largest) wield? Above everything else, I can fathom how ex-RBI and ex-SEBI officials can be useful to a law firm's practice. What legal advise will you solicit from a banker?

Clearly, they're investing in marketing.
Wow ! 22 Oct 2018, 19:24
+1 -2
[quote]she was amongst Forbes magazine’s 25 most powerful women in the world [/quote]

That's cute,

[img]https://i.redd.it/nm60ie1o1n6x.jpg[/img]



I'm veally scared !
Chaiwala 23 Oct 2018, 06:06
+6 -0
....Chanda Kochhar had been 'most powerful woman' and 'best...this' and 'best... that' for a long time spending millions of dollars on such PR exercises!
Paddy 22 Oct 2018, 20:44
+3 -0
Looks like it's time for paddy to retire.
Huh 23 Oct 2018, 04:23
+8 -0
Any insight on how a senior consultant like this works? Are they there just for the power of their name? I can't see how she'd get the time to go through whole matters to provide accurate insight. Is this like hiring a lobbyist for powerful regulatory influence?
Huh2 23 Oct 2018, 08:12
+6 -0
Good question.

CAM also has a former SEBI chairman in some "consultative" capacity. I really do wonder, what exactly these guys do. My guess:
1. Definitely not involved in transactions
2. Might give macro-level/strategic guidance to mega-transactions
3. Might represent the firm at conferences/stakeholder summits
4. Might make introductions in an informal capacity with relevant divisions/senior officials at their old organisations/govt

Though these aren't directly transaction related, having people like this on your team is certainly an asset - as long as your careful to ensure that it doesn't look like you are keeping a revolving door to facilitate lobbying.
Well wisher 23 Oct 2018, 04:33
+3 -0
No more hazzles for SBI Loans for AZBites ... Yaay.

Jokes apart, good to see firms hiring senior members of the industry who can bring practical solutions to the table.
NLUJ 23 Oct 2018, 07:15
+8 -3
This shows lack of depth in Indian industries. Can you imagine Jamie Dimon to every join a law firm like say Skadden! These (Law firms) are too low an institution for esteemed people like UK Sinha etc to join.

The fact is industry do not need them or want them, the Government do not see there use anywhere. Under Indian circumstances, only options left are consulting or law firms. Consulting firms do not need them (because these people do not know how to operate computers much less work on MS Excel or Word). Left are the law firms!!!
@NLUJ 23 Oct 2018, 09:29
+4 -1
It would be very surprising if a person who has recently retired as chairman of one of India’s largest banks cannot operate a computer.
eh 24 Oct 2018, 08:55
+2 -0
I've seen equity partners who can't convert word to pdf, so it's not too big a stretch
Skadden 25 Oct 2018, 08:21
+1 -0
I am so glad that you used Skadden as an example - do read about Irving Saul Shapiro who was Chairman of Du Pont and then joined Skadden subsequently
Jealous Jalan 23 Oct 2018, 09:25
+3 -1
They are taken for their connections.
Magic Square 23 Oct 2018, 09:30
+3 -0
Oh how the mighty have fallen.
seeker 25 Oct 2018, 07:40
+0 -0
guess the whole age old adage of "early retirement" has just been a myth all this while.

While the millennials are worrying about retiring early at the ripe age of 35 in some cases, I shudder to think about this womans energy level.

She indeed is very powerful(pun intended).
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