 "Arvind Kapil, HDFC retail assets head")
Non-Banking Financial Company (NBFC) Poonawalla Fincorp on Monday announced the appointment of Arvind Kapil as Managing Director (MD) & Chief Executive Officer (CEO) of the company.
The current MD & CEO of the company, Abhay Bhutada, has been elevated to a group-level role and will be taking up a strategic position at the Cyrus Poonawalla Group, managing its strategy, investment, and finance. He will continue to serve as a non-executive director on the board of Poonawalla Fincorp.
In an exchange filing, Adar Poonawalla, chairman of Poonawalla Fincorp, said, "As we continue to develop new business verticals and move towards our long-term vision of being a best-in-class organisation, we are pleased to share that Mr Arvind Kapil will be joining us as MD and CEO to spearhead this transformation to the next level of growth."
Currently, Kapil is serving as the group head of mortgage banking business at HDFC Bank and manages a book of over Rs 7 trillion. He also handled the merger of HDFC and HDFC Bank.
Kapil is an alumnus of Harvard Business School and has completed an advanced management programme. He has also completed a master’s programme in Management of Global Enterprises jointly from IIM Bengaluru, UCLA Anderson, and SDA Bocconi and City University. He pursued a master's in Management Studies from Bharati Vidyapeeth Institute of Management Studies and Research and a Bachelor of Engineering (BE) from KJ Somaiya College of Engineering, Mumbai.
Under the leadership of Bhutada, the company has achieved a CRISIL AAA rating, superior profitability, and reached an Assets Under Management (AUM) of more than Rs 21,000 crore.
