IT services major Infosys is splitting its four larger industry verticals into 15 smaller units to make the company more agile and sharpen client focus, reports ET. The objective is to give its presidents more time to build CXO-level relationships and strategy to improve sales, than be bogged down by internal operational matters.
The restructured Infosys will have 15 smaller industry units, each with $500-$700 million in revenue. The units will have a separate head, and profit & loss (P&L) responsibilities.
The Bengaluru-based company’s four large verticals are banking & financial services and insurance (BFSI) with $3 billion in revenue; retail & life sciences with $2.3 billion; manufacturing & hi-tech with $2.2 billion; and energy & utilities, communications and services, with $1.9 billion.
ET reports that BFSI, which counts Deutsche Bank and Goldman Sachs among its key accounts, will now have four industry heads — Jasmeet Singh, VP and regional head for financial services in the US (excluding West Coast); Ajay Vij and Kannan Amaresh, both VPs & regional heads of financial services in Europe; and Andrew Groth, VP of Australia and New Zealand, who will also lead financial services and insurance for the rest of the world. All four will report to president and financial services head Mohit Joshi.
Healthcare and life sciences will be a separate unit, and will be headed by former Wipro veteran Sangita Singh, who is joining Infosys on Monday. She too will report to Joshi. “The industry heads will be responsible for strategy for sales, P&L and increasing customer footprint. This will ensure greater client focus through the industry heads while allowing the presidents to focus on enterprise strategy,” wrote COO U B Pravin Rao in an email to all business unit heads.
