ICICI Securities’ retail distribution head quits

New Delhi: ICICI Securities on Friday said Kedar Deshpande, head of retail distribution, has resigned from the brokerage firm to pursue alternate career opportunities.

The resignation will take effect from the close of business hours on April 12, 2024. "Kedar Deshpande, Head - Retail Distribution (within the category of senior management in the Company), vide letter dated March 28, 2024, has tendered his resignation from the services of the company," ICICI Securities said in a regulatory filing. In his letter to ICICI Securities Managing Director and CEO Vijay Chandok, Deshpande said: "I wish to resign from the company to pursue alternate career opportunities outside the ICICI Group". ICICI Securities is currently in the process of delisting itself from the stock exchanges. The brokerage firm would be merged with its promoter ICICI Bank after successful delisting. ICICI Bank currently holds a 74.77 per cent stake in ICICI

Securities.