In 2024, the Indian Finance sector witnessed quite the disruption in notable top-management portfolios across some of the biggest names in the business including Bajaj Housing Finance, ICICI Securities, PhonePe, and HDFC Life.
Now let’s look into some of these portfolio changes:
Sayantani Dutta becomes the CHRO of Bajaj Housing Finance
Sayantani Dutta has been made the Chief Human Resources Officer (CHRO) by Bajaj Housing Finance. Speaking of his illustrious career, Dutta has twenty years of expertise in several HR-related fields, wherein, she has worked as HR - Wholesale Bank & Treasury at Kotak Mahindra Bank before joining Bajaj Housing Finance. Additionally, she has held positions with Idea Cellular, Walmart, GE Capital, Vodafone, and Vodafone Idea. From Xavier Institute of Management (XIM), in Bhubaneswar, Dutta received his MBA in HR.
T K Srirang, Group CHRO of ICICI Bank has Made the Joint MD by ICICI Securities
Currently, Srirang is employed with ICICI Bank holding important portfolios which includes Head of Infrastructure Management Services Group, Group Chief Human Resources Officer, and Human Resources function Head. Adding to this, he is also given the charge of the ICICI group firms' human resources department. T K Srirang has been appointed as a joint managing director by ICICI Securities. The said appointment will take effect from 1st of May which will last for five years.
Lookin back at the history, Srirang joined ICICI Bank in 2001 and has since played a significant role in establishing and growing the retail, SME, wholesale, international, and digital banking franchises. If we consider a reliable statement, he has served as a valued advisor to the Executive Board of every company in the group throughout his overarching 23 years with the ICICI Group. Srirang has been an important member of the ICICI Foundation for Inclusive Growth's Governing Council as well. Furthermore, he is also a member of the International Institute of Information Technology, Bangalore Governing Body.
Deepak Parekh Left his Chair as Chairman and Non-executive Director of HDFC Life
After his illustrious career, Deepak Parekh has resigned from his position as Chairman and Non-Executive Director. Keki M. Mistry has filled in this void and taken over this post as the board's new Chairman. This change came into effect at the end of business hours on April 18, 2024.
Keki M. Mistry has been unanimously appointed to the position of chairman of the board, effective immediately. This is pending approval from the Insurance Regulatory and Development Authority. Speaking of the expertise that he brings to the table, Mistry, is a chartered accountant (CA) and fellow member of the Institute of Chartered Accountants of India.. He was also the Vice-chairman and CEO at Housing Development Finance Corporation (HDFC) Limited.
"Mistry joined the board of HDFC Bank Limited as a non-executive director following the merger of HDFC Bank and HDFC Limited.Additionally, Mistry retired from HDFC Limited."Furthermore, he is a director on the boards of several other reputable companies," the company said.
Furthermore, the company appointed Venkatraman Srinivasan as an independent director. "Venkatraman Srinivasan has been appointed as an additional-independent director by the board, with effect from April 18, 2024, for a term of five consecutive years, subject to the approval of the shareholders in the company's ensuing annual general meeting," according to the filing. The company also said that after serving two consecutive terms of five years each, V K Viswanathan and Prasad Chandran will resign from their positions as independent directors on April 24, 2024.
BharatPe has named Nalin Negi as its new CEO
After CEO Suhail Sameer stepped down from the post, BharatPe’s interim CEO and CFO Nalin Negi was made the full-time chief executive officer. Negi was given charge of interim CEO in January 2023.
"We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO. His extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company," stated BharatPe, Chairman of the board, Rajnish Kumar.
With over 28 years of unrivaled experience in building and scaling businesses in the fintech and banking domains, Negi joined BharatPe in the year 2022 to drive fintech’s growth trajectory further.
"I am excited and honored to take on this new role at BharatPe. Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products,” stated Nalin Negi.
