Bangalore: Sudip Banerjee, director on the advisory board of Azim Premji Investments, has quit the firm and will become the CEO of L&T Infotech Ltd, the IT arm of India’s largest engineering firm Larson and Toubro Ltd, a person familiar with the development said.

Banerjee had joined Azim Premji Investments, the private investment arm of Azim Premji, chairman of Wipro Ltd, in April. API, with a corpus of over $ 1 billion, has invested in over 40 firms.

Banerjee did not deny or confirm the move. “I am on vacation now, call me next week,” he said.

L&T Infotech spokesman Anand Aashay could not confirm the development immediately.

Banerjee, who joined Wipro in 1983, was the president of enterprise solutions at Wipro Technologies, the global IT services arm of the firm.

In an April restructuring, Suresh Vaswani, who headed the India and West Asia IT arm of Wipro, and Girish Paranjpe, president of Wipro Technologies Financial Solutions were elevated as co-chief executives.

This led to the exit of another key executive, P R Chandrasekar, who headed the American operations of Wipro till then. Chandrasekar became the CEO of Hexaware Technologies Ltd.