Tag: BFSI Movement

Mahindra Finance appoints Raul Rebello as new Chief Operating Officer, BFSI News, ET BFSI

Personal Finance

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Mahindra & Mahindra Financial Services Ltd, today announced the appointment of Raul Rebello as its new Chief Operating Officer (COO) with immediate effect. This is post the movement of Rajnish Agarwal to Mahindra Rural Housing Finance Ltd (MRHFL).

Raul Rebello, COO, Mahindra Finance said, “I am absolutely delighted to be part of the diversified Mahindra Group and Mahindra Finance in particular. The plans which we have discussed for the financial arm and its subsidiaries are challenging, yet exciting. I see significant potential in the combination of my core business expertise and MMFSL’s resident knowledge and people. ”

Raul is a career banker with nearly two decades of extensive work in the domain of Rural banking and Financial Inclusion. Prior to joining Mahindra Finance, he was associated with Axis Bank Limited as EVP & Head- Rural Lending & Financial Inclusion.

In his nearly two decades with Axis Bank, Raul led key businesses including Farmer Funding, Gold Loans, MSME lending, Commodity loans, Tractor & Farm Equipment lending, Agri-Value chain finance, Microfinance (Retail & Wholesale) and the Financial Inclusion department.

He also played a pivotal role in increasing the Banks distribution in Rural and Semi-Urban areas through light format Banking outlets, Micro-ATMs and Rural ecosystem partnerships.

Ramesh Iyer, Vice-Chairman & Managing Director, Mahindra Finance said, “It is our pleasure to welcome Raul to the leadership team of Mahindra Finance. As we work very deep into the rural market, the next 3-4 years could really be critical with a good rural bounce back. We are broad basing our management team to be able to handle all our new initiatives and make the rural market bigger for us”.



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Yes Bank appoints Atul Malik & Rekha Murthy as Non-Executive Directors, BFSI News, ET BFSI

Banking & Finance

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YES BANK has announced the appointment of Atul Malik and Rekha Murthy as Non-Executive Directors, effective from August 30, 2021. The decision comes pursuant to approval of the Board of Directors, based on the recommendation of the Nomination & Remuneration Committee of the Board.

Malik is a veteran banker with more than 30 years of widespread experience. He is presently serving as a Senior Advisor to TPG for their financial services portfolio. He represents TPG as the Chairman of UBC, one of the largest private sector banks in Sri Lanka.

Previously, Malik was a Senior Advisor to General Atlantic for their financial services portfolio. He has also served as the CEO of Maritime Bank, one of the largest private banks in Vietnam from 2012 to 2015.

Prashant Kumar, Managing Director & CEO, YES BANK, said, “We are pleased to welcome the two new Non-Executive Directors to the Board. Their global experience in driving significant business growth, exhaustive knowledge of the industry, and professional expertise in advising large international enterprises will be invaluable as we continue to strengthen and grow Yes Bank.”

Murthy possesses 30 years of extensive global experience in the Technology sector across India, Asia Pacific and the USA. She has held senior and country leadership roles at leading global companies such as IBM, Harvard Business School Publishing, Wyse Technology, SAP, PeopleSoft, Digital Equipment Corporation and Korn Ferry International, the statement added.

Currently, she is engaged with start-ups in an advisory role and as a mentor.

“Ms. Rekha Murthy’s extensive background in technological transformation and change management along with Mr. Atul Malik’s wide-ranging experience as a veteran banker are ideal for accelerating the organization’s transformation – by advancing innovation, developing strategic alliances and elevating customer experience,” added Kumar.



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HSBC Asia appoints former SBI Chairman Rajnish Kumar as an Independent Director, BFSI News, ET BFSI

Banking & Finance

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The Hongkong and Shanghai Banking Corporation Ltd (HSBC) on Monday announced the appointment of Rajnish Kumar as an Independent Non-Executive Director. Kumar will also be a member of The Hongkong and Shanghai Banking Corporation Limited‘s Audit Committee and Risk Committee of its Asian operations.

The Indian operation is a branch of this Asian entity. HSBC is also listed in the UK as a separate entity called HSBC Plc. Rajnish Kumar retired in October 2020 after a 40-year career at the SBI. His international tenure included stints at SBI’s UK and Canada operations.

“Rajnish‘s depth and breadth of experience across India‘s financial industry will be an invaluable addition to the Board of the Group‘s flagship Asian entity as HSBC directs its focus towards the region. The opportunities presented by its 1.4 billion population, 18 million non-resident Indians and 40,000 MNCs make India a key component of HSBC‘s growth strategy” said Peter Wong, Chairman of the Board, HSBC.

Rajnish Kumar was formerly Chairman of the State Bank of India (SBI), until he retired in October 2020 following a distinguished 40-year career with the SBI. In addition to his extensive background with regulatory authorities, investors and businesses in India, Kumar has strong experience of global business and financial markets from his work with the SBI in the UK and Canada. During his tenure as Chairman of the SBI, he also led the strengthening of the bank‘s digital banking platform.

He is also currently a director of India’s Lighthouse Communities Foundation, an independent director of Larsen & Toubro Infotech, a senior advisor of Baring Private Equity Asia Pte Ltd in Singapore and an advisor of Kotak Investment Advisors Ltd in Mumbai.



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Deepak Jain to take over as the new Chief Risk Officer of AU Small Finance Bank, BFSI News, ET BFSI

Banking & Finance

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In a regulatory filing of sunday, AU Small Finance Bank announced the appointment of Deepak Jain as the new Chief Risk Officer for a tenure of 3 years.The commencement of his duty will begin September 1, 2021. Jain will restore the position of Alok Gupta the ex chief risk officer who abdicated on personal grounds this year on july.

He has vast and diverse experience and knowledge across accounts, finance, operations, it, audit and risk management. Over the years, he has handled various responsibilities with ease, precision and has always focused on building the robust processes, systems, and control mechanisms for ensuring sustainable and balanced growth of the bankAU Small Finance Bank

Jain is a qualified chartered accountant, with an overall experience of 23 years including 12 years with the bank as CFO and COO. In may 2010 , AU Small Finance Bank Limited appointed Jain as CFO and later designated as COO in April 2020.

“He has vast and diverse experience and knowledge across accounts, finance, operations, it, audit and risk management. Over the years, he has handled various responsibilities with ease, precision and has always focused on building the robust processes, systems, and control mechanisms for ensuring sustainable and balanced growth of the bank,” said AU Small Finance Bank in a statement.

He governed various segments incorporating finance and accounts, taxation and corporate and securities laws; credit processes, operations and information technology; and collections and legal and Infrastructure.

He is also the chairman of some of the board-delegated committees (executive committees), and member of others.



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Bandhan Bank appoints Arvind Singla as Executive President and Head – Operations & Technology, BFSI News, ET BFSI

Banking & Finance

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Bandhan Bank has appointed Arvind Singla as Executive President and Head – Operations & Technology, Singla in his last role was associated with Citibank as Director & Head – Consumer Operations.

Bandhan Bank in a statement said, “Bandhan Bank has recently envisaged a five-year vision for itself where, IT transformation is a key strategic priority. Arvind, with his experience of leading customer operations, and transformation for a large bank, would be a key contributor in this journey.”

Arvind has 36 years of experience across financial institutions in transformations, banking operations, technology and customer service, he was associated wit Citibank for 19 years. At Bandhan Bank he will be based out of the bank’s headquarters in Kolkata and report to Chandra Shekhar Ghosh, MD & CEO.

Arvind holds a PGDM from IIM Bangalore and a Bachelor of Engineering degree in Electrical & Electronics from Birla Institute of Technology & Science, Pilani.

Chandra Shekhar Ghosh, Managing Director and CEO, Bandhan Bank, said, “I am pleased to welcome Arvind to the Bandhan Bank family. We have been adding established industry leaders to our core management team to prepare for the next phase of growth. Arvind’s extensive experience of having worked with one of the finest in the industry will give us an edge with respect to our own transformation agenda. I wish Arvind a successful and long stint at Bandhan Bank.”



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