Financial consultancy firm Pricewaterhouse Coopers today said it has appointed Gautam Banerjee as the chairman of PwC India.

Banerjee, a partner with PwC Singapore for the last 20 years and also the executive chairman there for the last six years, has been appointed in place of Ramesh Rajan who stepped down as chairman at the end of last week.

He has resigned from his post on the PwC India Advisory Board but would function on his role at PwC Singapore. "It is envisaged he will spend the majority of his time in India for the foreseeable future," the firm said.

Banerjee joined PwC Singapore in April 1982 after qualifying as a chartered accountant in London and was admitted to the partnership on July 1, 1989.

Since the Satyam situation came to light, Price Waterhouse India audit firms have taken significant steps to restore confidence in their work including the appointment of a new assurance leader.

The appointment of a new risk and quality leader, the appointment of new management at its Hyderabad office and are making a significant investment in training and taking other steps to further enhance audit quality," the firm said in statement.