NEW DELHI: A new leadership for Ernst & Young in India was decided at a meeting of the firm's partners. The impending retirement of chairman and country managing partner (CMP) Kashi Memani will retire next year.

The partners unanimously elected Jairaj Purandare as the firm's chairman and Rajiv Memani as the new country managing partner and CEO. Both these new positions take effect from 1 April 2004.

An official release informs that prior to the integration of Arthur Andersen and Ernst & Young in May 2001 Purandare was the national tax head for Andersen. Rajiv currently leads Ernst & Young India's corporate finance practice. Ernst & Young Global's COO Paul Ostling added, "With its immense intellectual talent and the emergence of Indian enterprise at the global level, we see tremendous potential for our Indian practice.

" The global executive board of Ernst & Young offers its complete support to the firm in India. We are confident that the new leadership will sustain and further grow the firm's number one position in the country."

Memani added, "The direction of Ernst & Young Global, support of our clients and the commitment of our people, has today made us the number one professional services firm. The partners in our new leadership have demonstrated their capabilities having successfully managed and led our different service lines over the years. With the economy on a growth track, I am certain that the new team will infuse energy and youthful vigour to help maintain our lead in the marketplace."

Ernst & Young offers assurance and advisory business services, tax advisory, corporate finance and transaction services.