Financial services firm Religare Enterprises has said its Group CEO Shachindra Nath has resigned from the post.
His resignation will be effective from close of business hours on June 3, 2016, Religare Enterprises informed BSE.
"Shachindra Nath, Group CEO of the Company has decided to move on in his career and accordingly has resigned from the company," Religare Enterprises said in a BSE filing.
Religare Enterprises offers financial services through its underlying subsidiaries and operating entities, includes Loans to Small and Medium Enterprises (SME)'s, Capital Markets, Wealth Management, Health insurance and Asset Management.
All key functions at REL as well as CEOs of the
underlying operating businesses will report in to Nalin. Mr. Maninder Singh was associated with Ranbaxy Laboratories Limited for 28 years where he rose to become Global Financial Controller. He has handled several critical global roles and assignments and has successfully managed Treasury, Insurance & Risk Management, Business & Trade Finance, Indirect Taxes, Payroll & Trust services, Financial & Management Accounting, Merger & Acquisitions and Investor Relations functions. In his role at Religare he will report in to Nalin Nayyar.
Commenting on the new appointments, Mr. Malvinder Mohan Singh, Non-Executive Chairman, Religare Enterprises Limited said, "On behalf of the board I welcome both Nalin and Maninder to their respective leadership roles. The new revised structure approved by the Board is aimed at streamlining the organization, designed to allow Religare to achieve its objectives of following a focused growth-oriented strategy, robust governance and collaborative engagement."
About Religare Enterprises Limited:
Religare Enterprises Limited (REL) is the holding company for one of India's leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance, capital markets and wealth management. REL is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.
As a group, Religare caters to almost every segment of the market from mass retail to affluent, HNIs, UHNIs, mid-size corporates, SMEs to large corporates and institutions. With over 7000 employees, the group has a presence across more than 1450 locations pan India. For details visit http://www.Religare.Com
Media Contact:
Subhrangshu Neogi
Director - Group Marketing & Brand
Religare Enterprises Limited
Subhrangshu.Neogi@religare.
