Tag: CFO movement

Cryptocurrency exchange ZebPay appoints Tarun Jain as CFO, BFSI News, ET BFSI

Personal Finance

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Crypto asset exchange company ZebPay has appointed Tarun Jain as its group chief financial officer (CFO). He will be responsible for shaping the strategic and long-term financial direction of the company.

Previously, Jain served as the CFO for Lithium Urban Technologies. He has also worked with companies like Zoomcar, Herman Miller, and Warner Bros. At ZebPay he is expected to work closely with the leadership team to drive the company’s financial and development strategy

Jain said in the company release, “I’m looking forward to supporting the development of ZebPay’s business and its suite of industry-first products for crypto investors in India. ZebPay is on a path to becoming the foremost crypto player in India and I’m glad to be leading the financial and strategic direction.”

Jain possesses expertise in financial management, investor relations, fundraising, strategic planning, commercial negotiation, and risk management. . Along with business planning, he will also be responsible for the company’s budgeting, forecasting, and leading strategic business negotiations.



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IDBI replaces CFO over RBI’s CA diktat, BFSI News, ET BFSI

Banking & Finance

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Mumbai: IDBI Bank on Thursday said that it has appointed executive director P Sitaram as chief financial officer (CFO) and key managerial personnel of the bank. The appointment follows the RBI’s direction to ensure adherence to the minimum qualification criteria for the position of CFO. Sitaram is a qualified chartered accountant and has over 15 years of experience in handling finance and accounts and taxation matters in IDBI Bank.

The RBI’s directive to banks to appoint qualified CAs as CFO is compelling banks to cast a wider net in their search for candidates. Besides the academic qualification, RBI requires the CFO to have 15 years of experience in overseeing financial operations such as accounting and taxation and most of it in a bank or financial institution.

SBI had appointed former EY partner Charanjit Surinder Singh Attra as CFO in September last year after advertising for the position. The bank had offered an annual cost to the company of Rs 75 lakh to Rs 1 crore which was almost thrice of what the chairman earned at that time.

The RBI too hired laterally for the CFO position. The central bank had appointed Sudha Balakrishnan a CA and former director with National Securities Depositories Limited (NSDL) as its CFO in 2018.

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Federal Bank names new CFO as Khajuria moves into ESG role, BFSI News, ET BFSI

Banking & Finance

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Private lender Federal Bank on Monday, in a regulatory filing, announced that its current CFO and Executive Director Ashutosh Khajuria will move to “establish ESG journey”, and named Group President Venkatraman Venkateswaran as the new CFO. The appointment of the new CFO is effective May 18, 2021.

Post the transition, Khajuria will also be responsible for treasury, credit & collections, and strategic initiatives of the bank, the lender said.

The new CFO Venkatraman Venkateswaran is a chartered accountant qualified with graduate degrees in Law and Economics with more than three decades of professional expertise in banking and compliance. He is also equipped with an Executive MBA from Indian Institute of Management, the bio shared in the filing said.

Previously, Venkateswaran handled senior positions and was responsible for financial management, reporting and financial control in large corporations like Indian Rayon & Industries (Aditya Birla Group), the Singapore based Kewalram Chanrai Group and as CFO with Invensys India Pvt Ltd.

Following the news, shares of the Federal Bank were trading at Rs 82.15 apiece on the BSE, up 3 per cent from the previous close.



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