Biocon President Marketing Rakesh Bamzai quits

Bangalore-based Biocon's President Marketing, Rakesh Bamzai has quit the company after 19 years of association.
Bamzai has decided to leave the organisation and accept a new leadership role, the company said in a statement.
Commenting on the development, Biocon Chairperson and Managing Director Kiran Mazumdar-Shaw said: "As part of the core management of the company, Rakesh was instrumental in creating Biocon's global footprint and building a team of capable individuals to take up higher challenges in the organisation."
Bamzai said he will continue to remain "engaged with Biocon in future. I am confident that the team that I leave behind will ensure Biocon's continued success."

Bamzai did not disclose the details of his next assignment.
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LIC Nomura launches Capital Protection Oriented Fund-Series II * LIC Nomura Mutual Fund has launched a new scheme 'Capital Protection Oriented Fund-Series II', which is a 34 month close ended scheme.
The new fund offer, which has opened for subscription from December 30, 2013, will close on January 13, 2014.
As per the fund house, the scheme will invest in 85 per cent in debt and 15 per cent in equity, a company release said.
"After receiving a good response from investors for the Capital Protection Oriented Fund Series I, we have launched CPOF Series II as it will help the investors to earn regular income over medium to long term," Director and Chief executive Officer, LIC Nomura Mutual Fund, Nilesh Sathe said.

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Suresh Patel takes charge of executive director of OBC * Suresh N Patel has taken charge of executive director of state-owned Oriental Bank of India (OBC).
Prior to this, Patel was general manager with Dena Bank looking after Gujarat, OBC said in a statement.
Started career Agriculture Officer with Dena Bank, Patel has over three decades of work experience.