MUMBAI: Former chief of Citi India,
Pramit Jhaveri
, is likely to join the board of one of the key
Tata Trusts
that holds significant stake in
Tata Sons, the holding company for Tata Group. Jhaveri is expected to strengthen the board from a professional standpoint. Jhaveri, who headed Citi India for most of the last decade, has had a long-standing relation with the Tata Group. Prior to his taking charge of the bank’s India operation, he headed investment banking operations and supported the Tatas in most of the acquisition deals.
Besides being close to
Ratan Tata, Jhaveri has also worked with N Chandrasekaran during his days at Tata Consultancy Services (TCS). TCS had in 2008 acquired Citigroup Global Services. The Tata Group has been working on strengthening Tata Trusts after the recent tussle with former chairman Cyrus Mistry, who had fallen out with board members including Ratan Tata.
The Tata Trusts include the two key bodies Sir Ratan Tata Trust and Sir Dorabji Tata Trust. Both of them have allied trusts. Those allied to Sir Ratan Tata Trust are Navajbai Ratan Tata Trust, Tata Education and Development Trust, Bai Hirabai J N Tata Navsari Charitable Institution and Sarvajanik Seva Trust.
The Dorabji Tata Allied Trusts include the Lady Tata Memorial Trust, JRD Tata Trust, Jamsetji Tata Trust, Tata Social Welfare Trust, Tata Education Trust, the RD Tata Trust and the JRD & Thelma J Tata Trust.
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