Finance and investment services company, IIFL Finance ltd has named Nirmal Jain as its new Chief Executive Officer (CEO) as Sumit Bali has put down its papers to pursue other career opportunities.
Reportedly, his resignation has been acknowledged by the Board of Directors at the meeting called today and he will be relieved from the services with effect from June 30, 2020. The Board has placed its appreciation to Bali for the valuable contributions made by him during his stint and wishes him the luck for his future endeavors. Sumit had earlier worked with Kotak Mahindra Bank and alumni of the Indian Institute of Management, Ahmedabad and St.Stephens College.
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On the recommendation of the Board of Directors, Nirmal Jain, Executive Chairman, has been named as the CEO to supervise the management and affair of the Company.
Jain is associated with IIFL for over two decades. He is a Chartered Accountant and secured All India Second Rank, The Institute of Chartered Accountants of India. He also holds a PGDM from the Indian Institute of Management, Ahmedabad.