FCH has also promoted Rakesh Makkar, the chief executive officer (CEO) of Future Money, FCH's consumer credit wing, as joint managing director of FCFS. Kaul and Makkar are expected to drive the business of FCFS.
With Kaul at the helm of FCFS, FCH is expected to hasten the launch of its online financial services format. The online broking segment is growing rapidly in the country and is dominated by big players such as ICICI Direct, Indiabulls, Sharekhan and Reliance Money.
According to a report titled
