Saurabh Agrawal to succeed Ishaat Hussain in Tata insurance JVs

There is also a possibility of divesting some companies that are not on the group's priority list

Saurabh Agrawal, group chief financial officer (CFO) at Tata Sons, is set to become the chairman of Tata AIA Life Insurance and Tata AIG General Insurance, replacing group veteran Ishaat Hussain who retires next week after turning 70.

Agrawal, a seasoned investment banker, is one of the key hires of Tata Sons Chairman N Chandrasekaran, popularly known as Chandra, since he took over the reins of the $104-billion Tata group in February.

“Agrawal will be taking over the leadership roles in finance companies of the group,” said a Tata group insider familiar with the plans.

As group CFO, Agrawal has