The move comes at a time when the infrastructure finance company is planning an entry in the banking sector. It is one of the 26 companies that have applied for a new banking licence.
"He has joined Srei as Group CEO this week," said a person aware of Harding's appointment. While Harding was not immediately available for comments, his Linkedin profile now describes him as the group CEO – liability and treasury management and chief economist at Srei Infrastructure Finance.
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On August 21, 2013 Lakshmi Vilas Bank had announced appointment of Harding as its executive director and chief business officer.
Prior to joining the private sector lender, Harding was executive vice president of ALCO (asset-liability committee), economic and market research at IndusInd Bank. He was overlooking the bank's overseas treasury division (foreign exchange and money market operations), international division and investment banking division.
He started his banking career with State Bank of India (SBI) in 1981 and has held assignments as executive director in Centurion Bank. Harding has experience in treasury, commodity trading, derivatives, international trade and corporate banking and has handled overseas assignments in Dubai, London and New York.
The move surprised a few but industry observers believe Harding's latest appointment is triggered by Srei's ambitions to set up a bank. "He has vast experience in the field of treasury and corporate banking and will probably steer Srei's banking foray," said a banker.