Ashok Vemuri CEO, IGate

IGate has great market opportunity right now because of the Company’s ability to deliver excellent solutions across numerous vertical markets....

Ashok Vemuri, a person very simple to look at is the new CEO of IGate from September 2013. A person who is a diehard fan of Jamie Dimon, the CEO of JP Morgan Chase and Nandan Nilekani, calls them as the true icons and tries to act as they do. Known to be an excellent communicator, Mr. Vermuri possesses skills in interfacing with clients, cultivating relations with them for securing repeat business and ensuring quality delivery of services to clients.

Mr. Vemuri believes that a manager plays a very important role to groom the juniors and in becoming redundant and believes that this is how the competent amongst them can be taken over. Ask him about Infosys, he is all praises for the Senior Management for the promotion of meritocracy and for encouraging new ideas and innovation. He is a keen analyst with admirable skills in market forecasting and formulating strategies to make use of business opportunities.

Ashok Vemuri mentioned that he gets immense satisfaction to head the team which managed turbulence in the banking sector the previous year. A person, who is an ardent fan of Carnatic Classical Music, says he gets completely immersed while listening to M.S. Subbalakshmi on his IPod. 

He is blessed with a consistently upbeat and enthusiastic attitude, he is recognized to be an enterprising leader who has mentored people with an equal desire to perform and win.

Early Days and Education

Ashok Vemuri is known to be a very hard working person from his childhood. He has born in the year 1969. He has completed his Graduation with Honours with Physics from the St. Stephens College from Delhi. Mr. Vemuri has later completed his Post Graduate Diploma in Marketing Management from the Indian Institute of Management, Ahmadabad.

Prior to joining the prestigious Infosys, he had established Financial and Insurances business for close to nine years and later made it one of the largest business units within Infosys. Later when he joined Infosys in the year 1999, he was responsible for the company’s largest region which had $4.7 billion as revenues and he was responsible to supervise all facets of the business, which ranged from Strategic direction to maintenance and improvement of the operational efficiency.

The Spark

Ashok Vemuri is the Chief Executive Officer at IGate Global from September 2013. He has also served as the President of IGate from September 16th 2013. Earlier to IGate he was the Global Head of Manufacturing and Engineering Services with Infosys, and he served in this position from April 2012 to September 12th 2013. He also served as the Head for its American Operations till September 2012. He also served in various positions with Infosys like the Global Head of Financial Services and Insurance business, Global Head of Banking, capital Markets as well as Strategic Global Sourcing. He also worked as the Senior Vice President with Infosys.

Mr.Vemuri joined Infosys in the year 1999, and he headed its operations across Canada along with Eastern North American Region. He was also associated with the Investment Banking sector and has worked with Bank of America and Deutsche Bank. He has also served on the Board of Infosys Consulting as well as Infosys Technologies from June 11 of 2011 till September 12th of 2013. Ashok Vemuri also serves on the Board of Visitors of the Fuqua School of Management at the University of Duke.

His Journey with IGate

The world’s leading outsourcing firm, IGate, has appointed Ashok Vemuri as its new CEO effective from 16th of September 2013. He has taken the place of the earlier CEO Phaneesh Murthyin, who left IGate in the month of May, 2013. As listed by Times of India, Mr. Vemuri is said to receive a compensation of about $3 million along with the Stock Options as well as the performance linked bonuses. Vemuri who is known to be much disciplined and extremely good at managing complex political environment is known to have moved up to the position of CEO with Infosys in just 12 years.

It was stated by Ashok Vemuri that IGate which has over $700 million in debts has entered into a credit agreement for a loan facility of about $360 million with the DBS Bank and the ING Bank and this move will certainly help the US based IGate save $105 million worth of interest for about five years. The firm is also spending time over finding and also grooming the right leaders under the supervision of their new CEO, Ashok Vemuri.

Family
Ashok Vemuri was born in the year 1968. He is presently known to be living in Bridgewater, New Jersey. He also stayed at Bridgewater earlier from the year 2001 to 2005. He shows up in Bangalore during the time of quarterly results of the firm.

Professional Affiliations

IGATE Global Solutions Ltd. Infosys Ltd. Indian Institute of Management, Ahmadabad St. Stephens College Infosys Technologies (China) Company Limited Infosys Public Services Inc

Awards and Accolades

Mr. Vemuri has been elected to the Forum of Young Global Leaders, in the year 2009 by the World Economic Forum. Ashok Vemuri has also been invited to be a speaker at various conferences which are held by the American Bankers Association. He has also been invited to speak at symposiums by the Asia Society and Waters. He was also quoted as a practitioner and observer of Global Sourcing by many leading publications like the New York Times, Wall Street and the International Herald Tribune. Ashok Vemuri was selected in the year 2008 by Business Today as a member in the league of Extraordinary Managers. He was also listed as one of the top 25 hottest and Young executives of India by Business Today in the same year. Ashok Vemuri has always been respected as an astute business leader by the media and is often sought by one and all to analyze the state of countries banking industry.

Quotes Technology is the core part of any company today. We are going to convert healthcare into a specific vertical and invest in that. We believe that’s a huge opportunity. We don’t want to get into situations where we’re signing long-tenure deals in order to boost our order bookings, which will not necessarily reflect in our quarterly earnings. So we will be fairly cautious about the kind of deals that we sign. We expect modest sequential growth in the fourth quarter, especially when compared to our third quarter We have to be on site as we need to be closer to the client. These are transactions where our being near shore is critical to their progress I think it’ll be a little difficult to put a date on when we will return to (industry leading) growth. We’re also focused on creating a stronger consulting business—a combination of all of that and some of the recent deals we’ve signed, and our pipeline, should bring us back to where we want to be in hopefully three-four quarters.. iGATE has great market opportunity right now because of the success of its Business Outcomes-based model and the Company’s ability to deliver excellent solutions across numerous vertical markets.. I'm very excited about assuming the roles of President and CEO and look forward to working with the Board of Directors and the management team to deliver on iGATE’s growth strategy, leveraging the Company’s unique offerings.. We are developing a new organisational structure where the leaders will have responsibility and accountability towards the clients, shareholders and employees.. The people, who left, left for a whole host of combination of issues not just one. We will prioritise according to the business needs and leaders will have to adjust to it.. Our biggest markets are North American and the Western European markets, where we have enough legs to derive significant returns. There are certain markets where we had a half-hearted effort. We will not scale those, and there will be no initiative to seek more business.. We will ramp-up our recruitment. It will be fairly substantial..