The reorganisation, effective today, is in line with the recommendations of McKinsey & Co, the global management consultancy. It will enable ICICI to offer clients one-stop service by synergising the group's banking (ICICI Bank), hire purchase (I-Credit) and investment banking operations (I-Sec) with the parent company's core activity of long-term financing.

The three focus areas are being organised as divisions, each headed by a general manager. To take care of top clients, a division called the "major client group" has been formed. The second level of corporate clients will be looked after by "the growth client group". The third division is the "personal financial products group". Says deputy managing director Lalitha Gupte: "The restructuring is taking place to synergisegroup operations and provide a whole array of products to our valued clients."

While the major client group will be headed by S Mukherji, senior general manager, the other two will be headed by MJ Subbiah, general manager, and Shikha Sharma, general manager. All of them will be reporting to Lalitha Gupte, who in turn will be reporting to CEO and managing director KV Kamath.

The major clients group will taking care of the top 100 corporate clients of the company. This group itself will be divided into three - a client coverage division headed by Chanda Kochchar, deputy general manager, an infrastructure and consulting division headed by Anando Mukherji, deputy general manager, and an oil and gas division headed by R Kannan, deputy general manager.

The top 100 clients will be serviced by 10-12 dedicated client bankers who will be based in Mumbai and other key locations like Delhi, Chennai and Calcutta. The client-bankers will cross-sell all products of ICICI, ICICI Bank and I-Sec.

ICICI will provide the"growth clients group" its online and transaction delivery system, including web banking, once the infotech infrastructure is put into place. "All companies that will show enough promise for growth will be kept under this group," Gupte told The Financial Express. I-Bank will try and tap the potential of these companies through its array of products.

This group will be serviced through ICICI's zonal offices situated at Mumbai, Delhi, Baroda, Pune, Bangalore, Coimbatore, Hyderabad and Calcutta. The products of the oil and gas, infrastructural and consulting group and the structured products division will be delivered across the spectrum, Gupte said. The third division is the personal financial products division.

This is the first time a financial institution will be offering retail products under its own brandname. This division will be responsible for all the retail products of ICICI like auto loans and the credit-card busin-ess. This group will be working very closely with I-Credit, theMadras-based subsidiary of ICICI which specialises in hire purchase and leasing. "We will enter the card business shortly and are looking for a partner," Gupte said.

Divisions like treasury and risk management, headed by Kalpana Morparia and Sanjiv Kerkar, have been left untouched and they will continue to operate as before even after the reorganisation.