Ajay Kumar Pandey to head GIFT City

MUMBAI: Global financial services hub Gujarat International Finance Tec-City ( GIFT City) has appointed Ajay Kumar Pandey as its new Managing Director and Group CEO.

Pandey will take over the charge from August 1, the company said in a statement.

He has three decades of global and domestic experience in the field of telecommunications and has worked in senior management positions in Tata Telecommunications, Tata Teleservices and Neotel.

Pandey will replace the current head of GIFT, Ramakant Jha, who has been associated with the project since November 2009. Jha will move to Mumbai as CEO of IL&FS's Smart City initiative.

India's first International Financial Services Centre (IFSC), GIFT City in Gujarat became operational in April.

The IFSC developed in the lines of those in Dubai and Singapore will have country's top bourses BSE and NSE setting up international exchanges there.