Shaji Farooq, Infosys's financial services head in the U.S. has resigned and has joined rival business group Wipro.

Farooq had been with Infosys for more than a decade and was leading the consulting and system integration for the Americas. According to his profile at LinkedIn, a professional networking website, he was "SVP & Head, Financial Services Americas at Infosys Technologies."

Infosys has not commented on the development, while a Wipro official quoted by Business Line, a business and finance daily, confirmed the news and said that Farooq has joined Wipro as Senior Vice-President and will spearhead the newly created "advanced technology" service line and "go-to-market transformation" businesses of the company. He will be based in New York and will reporting to T.K. Kurien, CEO of Wipro's IT business.

Farooq was earlier the Senior Principal at Diamond Management & Technology Consultants before joining Infosys. He has joined the list of top executives including senior board member Mohandas Pai, BPO COO Ritesh Idnani and sales head Subhash Dhar, who have left the Indian IT major in the past one year.

Infosys, which once was the top IT player in India, has failed to meet its revenue guidance in the past few quarters.