Bangalore, July 5: The UB group has rewarded two key finance officials ? Harish Bhat and P.A. Murali ? for their roles in acquisitions and restructuring strategies.

Bhat has been appointed as executive vice-president (group finance) for the UB group, while Murali, executive vice-president (finance) of United Breweries Ltd, will take over as the chief financial officer of the United Spirits operations comprising McDowell & Co Ltd, Herbertsons Ltd, Triumph Distillers and Vintners Ltd and Shaw Wallace and Company Ltd.

Bhat, who was earlier the executive vice-president of the spirits division, will lead corporate finance activities, including promoter funding, equity and debt raising (other than working capital), mergers and acquisitions and reorganisation.

“His skills will now be used on a wider platform to address the long-term structural funding needs of the group,” Ravi Nedungadi, president and CFO of the UB group, said.

Bhat played an important role in the takeover of Shaw Wallace and Company and the funding arrangements leading to the acquisition.

Nedungadi said, “Murali played an important role in restructuring the breweries business by de-merging it from the holding company, United Breweries (Holdings) Ltd.”