MAS Financial Services Strengthens Senior Management Bandwidth

/ -- MAS Financial Services (MAS), a specialised retail financing services company headquartered in Ahmedabad, today announced that in a move to strengthen its senior management bandwidth, the Company has created certain new senior positions and has elevated some of the existing Key Management Personnel (KMPs). All the new appointments were approved by the board in its meeting held on November 6, 2019.

MAS Financial's current board member and Chief Operating Officer (COO), Mrs. Darshana Pandya is now elevated to a newly carved role of Chief Executive Officer (CEO) and member of the board. In her new role as the CEO, Mrs. Pandya will lead the organisation under the guidance of the board and will be responsible for MAS Financial's strategic growth initiatives. Mrs. Pandya has been with MAS Financial for the past 23 years.

 

The Company has elevated the current Vice President - Finance, Mr. Ankit Jain to the position of Chief Financial Officer (CFO). Mr. Jain will continue to lead the Company's debt and capital raising programs and will play a key role in value creation for stakeholders. Mr. Jain is with the Company since 2010.

Besides these appointments, MAS Financial has also elevated the current Head - Risk Monitoring, Mr. Nishant Jain to a new position of Chief Risk Officer; and the current Vice President - Retail Asset Channel, Mr. Dipak Dangar to a new role of Chief Operating Officer - Retail Asset Channel (COO - RAC).

This management team will support and work closely with Mr. Kamlesh Gandhi, Chairman & Managing Director and Mr. Mukesh Gandhi, Wholetime Director, along with other board members.

"With their rich experience and a long track record of working with MAS Financial Services, these promotions are well deserved and in-line with our endeavour of recognizing and promoting the personnel from the ranks and to have a succession roadmap by creating a strong senior level bandwidth. I congratulate them on their new roles and look forward to working with them to make MAS Financial Services one of the most efficient distributors of financial services and create value on a very large scale," said Mr. Kamlesh Gandhi, Chairman & Managing Director, MAS Financial Services Limited.

About MAS Financial Services Ltd.

MAS Financial Services Ltd. (MAS) has been engaged in specialised retail financing services for over two decades. MAS predominantly caters to the MSME sector through its strong distribution network of around 3500 centres and more than 120 regional NBFCs, which results in to not only a PAN India presence but also helps the Company to leverage on their demographic and niche expertise.

The Company's ultimate objective is of extending credit where it is due, accompanied by a very effective last mile delivery of credit.

MAS currently manages AUM of more than Rs.6000 crs. having registered a very steady and robust growth of more than 25% over a sustained period of two decades. It had the privilege of having marquee investors like FMO, DEG, ICICI venture and Sarva Capital before going to the IPO in October 2017, which was a stupendous success.

MAS due to its niche expertise, strong distribution network and a high capitalisation level, is poised for a sustained and a quality growth.

Brief Profile of New Appointees At MAS Financial Services Limited

Mrs. Darshana Pandya from Director & COO to Director & CEO:

Mrs. Darshana Pandya started her career with the Company in the year 1996 as a junior executive with Accounts Dept. Through her immaculate hard work and determination to excel, she was promoted to Chief Operating Officer ("COO") of the Company. Over the years, she gained varied experience in all the departments of the Company and on Board meeting held on 23rd September, 2016 she was appointed as Director of the Company. Her extremely focused, passionate and dedicated work has helped the Company to achieve very impressive growth. The Board of Directors at its meeting held on 6th November, 2019, appointed and promoted Mrs. Darshana Pandya as Chief Executive Officer of the Company.

Mr. Ankit Jain from Vice President - Finance to Chief Financial Officer ("CFO")

Mr. Ankit Jain is associated with the Company since last 9 years. He joined the Company as Asst. to Director Finance in the year 2010 and due to his constant hard work and dedication, he was promoted to Vice President - Finance in the year 2017. He is responsible for Syndication of Funds (Term Loans, Cash Credit, Securitization, Preference Shares, Debentures) for the Company through various sources such as Banks, Financial Institutions, Private equity players and development organizations. He played significant part in getting the Company listed with stock exchange and has been handling investor relationship for the Company. He also ensures compliance to various regulatory norms pertaining to RBI. Considering his experience and dedication, the Board of Directors at its meeting held on 6th November, 2019, appointed and promoted Mr. Ankit Jain as Chief Financial Officer of the Company.

CA Nishant Jain from Head - Risk & Monitoring to Chief Risk Officer ("CRO")

Mr. Nishant Jain has an overall experience of more than 8 years in Credit & Risk field. Mr. Jain had first joined MAS Financial in 2012 and worked with the Company till 2016 as Manager - Operations. He re-joined the Company in 2018 as Head - Risk & Monitoring. Owing to his proven abilities and his dedication towards all the given assignments, he is now being appointed and promoted as Chief Risk Officer of the Company, at the Board Meeting held on 6th November, 2019.

Mr. Dipak Dangar from Vice President - Retail Assets Channel to Chief Operating Officer - Retail Asset Channel ("COO-RAC")

Mr. Dipak Dangar is associated with the Company since last 11 years. He joined the Company as a Relationship Manager in the year 2008. Due to his hard work and dedication towards all the assignments given to him during his tenure, he was promoted and assigned various responsibilities which were performed successfully. His last designation was Vice President - Retail Assets Channel. He is appointed and promoted as Chief Operating Officer - Retail Asset Channel ("COO- RAC") of the Company, at the Board Meeting held on 6th November, 2019.