No sooner had Indian bank ICICI launched its UK operations than it got cracking on its US launch. UK legal head Priti Shetty is working with the ICICI management to recruit a seven-strong legal team based on the ground in New York.
Shetty, who was parachuted into London from the bank's Mumbai headquarters, explained that a New York office is crucial if the bank wants to continue its international growth.
"There are a lot of plans for the bank as a whole and we need to be sure that there are proper legal capabilities available," Shetty explained.
With the aid of Margaret Tahyar at Davis Polk & Wardwell the licence has been finalised and the bank is all set for launch in the States at the end of this month. Recruitment for the legal team is well underway, with Shetty turning her attention to the US as well as fulfilling her duties to the London legal team.