UBS AG's head of operations (India), Manisha Girotra has resigned from the bank to pursue her own business venture. The lender has named Aashish Kamat as the new head of its India business.

Girotra confirmed the development. "Yes, here till March," she said in a text response. Girotra joined UBS in 1998,

and was instrumental in several mercurial deals, including Vodafone's acquisition of Hutchison Essar and Hindalco's acquisition of Novellis.

In the recent past UBS had witnessed several high-level exits. A Rajagopal, head of UBS equity market (India), left to join Standard Chartered Bank, Ganeshan Murugaiyan, head (investment banking), resigned to join BNP Paribas.

Image: Manisha Girotra. | Photograph: Reuters