Future Capital today announced the appointment of Apul Nayyar as the CEO of the Retail Financial Services. Apul comes with over 15 years of experience in Retail Banking, earlier with Citigroup, Merrill Lynch and later with India Infoline. He also comes with rich experience in Corporate finance, Treasury and Wholesale Financing businesses.
In this current role Apul will report to V Vaidyanathan, Vice Chairman and Managing Director of Future Capital Holdings. “We are delighted to have Apul Nayyar on board. The consumer lending business is worth Rs. 3 trillion annually, and this is a big opportunity. The company has high capital adequacy of 30% (March 2010), and we will leverage to create shareholder value. Apul’s rich experience and excellent track record in the market will be highly useful in rolling out the full range of retail products.”
In his last role as Executive Director of India Infoline Investment Services Ltd he drove the Retail & Wholesale Lending businesses for the company, apart from holding directorship in several key group companies. In his stint of 9 years with Citigroup, apart from managing businesses, he also held positions of CFO (Financial Controller) and Chief Treasurer of Consumer Finance.
Apul is a commerce graduate from Delhi University, a qualified Chartered Accountant & is a keen sports enthusiast.
About Future Capital Holdings
Future Capital Holdings (FCH) is an integrated provider of financial services present in Retail financial services, Corporate lending, Trade Finance, advisory services. As of March 2010, the company had a Networth of Rs. 7420 million with consolidated profits of Rs. 593 million. Future Capital recently appointed a new Vice Chairman and Managing Director, and the company has subsequently been exploring new opportunities in Retail and Wholesale businesses.