BENGALURU/CHENNAI: “Earlier this year, I took on the challenge to lead the combined banking, financial services and insurance business unit for the Americas and proud to say that I’m leaving this unit in a better place and in the hands of three great leaders, two of them who were a part of my leadership team for over a decade and the third leader is my personal reference to Cognizant,” she mentioned in a LinkedIn farewell submit.
TOI has learnt that Cognizant BFSI portfolio is split between three leaders – Nageswar Cherukupalli, former Infosys SVP and head of monetary companies and insurance coverage, will lead banking and capital markets, Ajay Pandita, VP, and strategic enterprise unit chief will take cost of playing cards, funds, and lending enterprise, and Sarat Varanasi, insurance coverage enterprise unit chief at Cognizant, will take over its insurance coverage enterprise, sources informed TOI. An e mail despatched to Cognizant did not elicit a response until the time of going to the press.
Cognizant’s BFSI sector has seen a churn on the prime within the final two years leaving a management vacuum to create stickiness inside the enterprise unit. Daniel Cohen, who led the monetary companies section, stop within the latter half of 2021.Craig Stanley changed Cohen because the enterprise unit chief for BFS (banking and finance companies) for North America. There was a churn within the supply group too. Krishnan Iyer, SVP and world supply for banking monetary companies and insurance coverage companies, has stop too.
BFSI accounts for 31% of Cognizant’s income, and healthcare 29%. Cognizant’s monetary companies’ revenues declined 5% within the June quarter and it has been on the decline for some quarters. Cognizant’s progress in monetary companies has slowed down as a consequence of challenges in among the accounts, particularly in North America, decrease visibility into discretionary spending, slower ramp-ups and elongated decision-making cycles has impacted its progress charge. TOI had reported that in Cognizant’s 25-year listed historical past, its healthcare vertical will doubtless beat the BFSI vertical within the September quarter. This places the highlight on how its BFSI enterprise has been put to a stress check a lot in order that Cognizant’s healthcare enterprise is all set to outshine it.
Its outgoing CFO Jan Siegmund in a current earnings name mentioned, “We’re going to continue to see the pressure in financial services performing below our own hopes…And there’s some strength as you saw in the quarter and our strength on a relative basis in healthcare. And that reflects the strong market position that we have with our clients in healthcare.”
TOI has learnt that Cognizant BFSI portfolio is split between three leaders – Nageswar Cherukupalli, former Infosys SVP and head of monetary companies and insurance coverage, will lead banking and capital markets, Ajay Pandita, VP, and strategic enterprise unit chief will take cost of playing cards, funds, and lending enterprise, and Sarat Varanasi, insurance coverage enterprise unit chief at Cognizant, will take over its insurance coverage enterprise, sources informed TOI. An e mail despatched to Cognizant did not elicit a response until the time of going to the press.
Cognizant’s BFSI sector has seen a churn on the prime within the final two years leaving a management vacuum to create stickiness inside the enterprise unit. Daniel Cohen, who led the monetary companies section, stop within the latter half of 2021.Craig Stanley changed Cohen because the enterprise unit chief for BFS (banking and finance companies) for North America. There was a churn within the supply group too. Krishnan Iyer, SVP and world supply for banking monetary companies and insurance coverage companies, has stop too.
BFSI accounts for 31% of Cognizant’s income, and healthcare 29%. Cognizant’s monetary companies’ revenues declined 5% within the June quarter and it has been on the decline for some quarters. Cognizant’s progress in monetary companies has slowed down as a consequence of challenges in among the accounts, particularly in North America, decrease visibility into discretionary spending, slower ramp-ups and elongated decision-making cycles has impacted its progress charge. TOI had reported that in Cognizant’s 25-year listed historical past, its healthcare vertical will doubtless beat the BFSI vertical within the September quarter. This places the highlight on how its BFSI enterprise has been put to a stress check a lot in order that Cognizant’s healthcare enterprise is all set to outshine it.
Its outgoing CFO Jan Siegmund in a current earnings name mentioned, “We’re going to continue to see the pressure in financial services performing below our own hopes…And there’s some strength as you saw in the quarter and our strength on a relative basis in healthcare. And that reflects the strong market position that we have with our clients in healthcare.”
