Aditya Birla Finance Limited (ABFL), a leading NBFC and a part of the Aditya Birla Financial Services Group, has appointed Rakesh Singh as Chief Executive Officer. The move demonstrates the Group’s continued commitment to strengthening the leadership team in its key growth businesses.
Based in Mumbai, Rakesh will functionally report to Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group. He will be responsible for the day to day management of ABFL and for building scale so as to make ABFL a leader and role model in the sectors in which it operates. Rakesh will join ABFL in the 3rd week of July, 2011.
Commenting on the appointment, Ajay Srinivasan said, “The NBFC space presents attractive opportunities, backed by India’s strong economic growth and rising capital needs of businesses, especially SMEs. For the Group, Aditya Birla Finance Limited is a core area of growth and a number of strategic initiatives have been planned to significantly enhance its revenue streams. The appointment of Rakesh is a crucial step in that direction. Rakesh brings with him in-depth understanding of the business and we look forward to sharing the benefit of his experience. He will work closely with the Group and lead the team in scaling up our NBFC.”
Rakesh Singh joins Aditya Birla Finance Limited from Standard Chartered Bank where he spent 15 years, starting as Retail Head, Retail Assets (Mumbai and Kolkata) and moving on to become national Business Head for mortgages, his most recent assignment being General Manager SME banking. He was also part of the global leadership team of Standard Chartered Bank.
Aditya Birla Finance Limited is one of India’s leading NBFCs engaged in capital finance, corporate finance and project finance.
