Piramal Enterprises hires Axis Bank exec to head consumer finance business

Ajay Piramal-led Piramal Enterprises Ltd has appointed the Axis Bank finance chief, Sridharan, as the CEO of its consumer finance business.
Sridharan will kick-start Piramal group's consumer finance operations from 2020.


Sridharan is an IIT-Delhi and IIM-Kolkata graduate. He has more than 20 years of experience in the domestic and international retail finance industry. He has worked nearly 10 years with Axis Bank. The bank stated on December 6th that he would leave the bank to pursue other career opportunities and that he would continue to serve as the chief financial officer during his notice period of three months.

 

During his tenure at Axis Bank, Sridharan led a fundraise of US$1.8 bn from investors, including Singapore sovereign wealth fund, GIC Pte Ltd. He joined Axis bank in 2010 as a senior vice president and rose to head its retail lending and payments portfolio. He has also worked with Capital One, British lender Standard Chartered, and India’s ICICI Bank, where he spent five years. Sridharan is highly experienced in building a large retail finance business and possesses a deep knowledge of technology and analytics.

Under its financial services, Piramal Enterprises operates non-bank lender, Piramal Capital and Housing Finance Ltd business, and the India Resurgence Fund. The fund is co-sponsored by Bain Capital Credit. Key management persons are very important in finance as they can make or break the business. With Sridharan, Piramal has found a good fit for its business.