Au Financiers (India) Limited (“Au Financiers”) appoints Sharad Vishvanath as Group Head and Chief of Digital Banking, Analytics and HR
Au Financiers (India) Limited
Au Financiers (India) Limited (“Au Financiers”) appoints Sharad Vishvanath as Group Head and Chief of Digital Banking, Analytics and HR
Appointment to focus on strategically building a Digital & Analytics based franchise for launching the “Au Small Finance Bank”
Jaipur, 9th February 2017: Au Financiers, the only NBFC categorized as an asset finance company to obtain license for small finance bank, has appointed Mr. Sharad Vishvanath as Group Head and Chief of Digital Banking, Analytics and HR.
Mr. Sharad will join the company from April 2017 and will be based in Delhi. He will be responsible for setting and scaling up Digital, Analytics & HR backbone for our small finance bank business and delivering banking services through alternate digital channels across assets & liability products.
With an agenda for financial inclusion, RBI had recently carved out the new category of Small Finance Banks. Au Financiers had received license on December 20, 2016 from the RBI to set up a ‘small finance bank’ (“SFB”).
Sharing his perspective on the of financial industry in India and his decision to join Au Financiers, Mr. Sharad Vishvanath said, “I am very excited to be joining Au Financiers which has impressed me at many levels with its organizational passion, larger purpose to serve the underserved, enabling economic activity at the grass roots with its amazing execution focus and truly living the customer focus mantra of ‘if the customer needs it we will make it happen’. In the new digital age that we now live in, I firmly believe, customers don’t buy products, they buy experiences. Employing a holistic & synergistic approach to Digital banking, Analytics and HR will be critical to reimagining this experience and the way we deliver customer & employee value”.
Speaking on the occasion, Mr. Sanjay Agarwal, Managing director, Au Financiers, said, “We are extremely excited to welcome Sharad to Au Financiers. We are confident that in this new position, Sharad will help us shape the SFB as a prominent player in the financial industry that is in the midst of a massive digital and people shift.”
Profiles:
Mr. Sharad Vishvanath:
Sharad is an MBA from the Wharton School, USA and has an engineering degree from IIT Roorkee. With a global career spanning 20 years, Sharad has worked in multiple geographies across the globe including the US, Middle East & Asia Pac.
Prior to joining Au Financiers, Sharad was the Regional Managing Director, Asia Pacific, Middle East & Africa (AMEA) of the Strategic Advisory Practice for Aon, a global risk & consulting major, where he was responsible for driving the practice’s regional portfolio. Sharad has deep expertise in helping organizations through transformation journeys and is an industry expert in Banking & Financial Services.
Prior to Aon, Sharad worked in global banking majors Citibank & HSBC in their retail banking divisions.
About Au Financiers (India) Limited:
Au Financiers (India) limited is a prominent, retail focused non-banking finance company (“NBFC”) primarily serving low and middle income individuals and businesses that have limited or no access to formal banking and finance channels. We operate in three business lines: vehicle finance; micro, small and medium enterprises (“MSMEs”) loans; and small and medium enterprises (“SMEs”) loans. Our Company is categorized as a “Systemically Important, Non-Deposit Accepting Asset Finance Company” (NBFC-ND-AFC) by the Reserve Bank of India. We received a license from the RBI to set up a ‘small finance bank’ (“SFB”) on December 20, 2016 and we are the only NBFC categorized as an asset finance company to obtain such license. As of December 31, 2016, we conducted our operations through 300 branches spread across 10 states and one union territory in India, with significant presence in the states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh and employed 6,092 personnel serving 270,692 active loan accounts.
Disclaimer:
Au Financiers (India) Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the DRHP with the SEBI. The DRHP is available on the websites of SEBI, BSE, NSE atwww.sebi.gov.in, www.bseindia.com, www.nseindia.com, respectively, the BRLMs at www.icicisecurities.com, www.hdfcbank.com, www.motilaloswalgroup.com andhttp://www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the section titled “Risk Factors” on page 19 of the DRHP. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision.
This public announcement is for informational purposes only and is not an offer to buy any securities and does not constitute an offer to sell securities in any jurisdiction or in any circumstances in which such offer is unlawful. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws in the United States. Accordingly, the Equity Shares are only being offered and sold (i) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements of the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.
