Premji's elder son shifted from fin to treasury

Rishad Premji, the elder son of Wipro chairman Azim Premji, has been shifted from the Financial Services Practice to the company's treasury and investor relations division as general manager.

An MBA from Harvard Business School, Rishad, 32, joined the company almost two years ago as a business manager in the Banking and Finance division, which was then headed by Girish Paranjpe, the present joint CEO of the company's IT business.

In his new role, Rishad will report to Rajendra K Shreemal, VP and corporate treasurer of Wipro. Confirming the development, a company spokesperson said: "Usually, role fitment is decided on the basis of education, previous years' experiences and the current expectations of the employee, which has happened in the case of Rishad Premji as well."

During his stint with GE Capital, Rishad was working in the treasury. Industry analysts say that Wipro is adhering to corporate standards, by treating the chairman's son at par with other employees.

"At this rate, he (Rishad) has to climb many ladders before he is elevated to a position of leading the company," said an industry analyst on condition of anonymity.