Poonawalla Fincorp, a non-banking financial corporation (NBFC), named Arvind Kapil as its Managing Director (MD) and Chief Executive Officer (CEO).
Kapil is a Harvard Business School graduate who has finished an advanced management programme. He has also completed a master’s programme in Management of Global Enterprises at IIM Bengaluru, UCLA Anderson, SDA Bocconi, and City University. He earned a master’s degree in management studies from the Bharati Vidyapeeth Institute of Management Studies and Research, as well as a bachelor’s degree in engineering from KJ Somaiya College of Engineering in Mumbai.
Abhay Bhutada, the company’s current MD and CEO, has been promoted to a group-level post and will oversee strategy, investment, and finance for the Cyrus Poonawalla Group. He will be a non-executive director on Poonawalla Fincorp’s board.
“As we continue to develop new business verticals and move towards our long-term vision of being the best-in-class organization, we are pleased to share that Arvind Kapil would be joining us as MD and CEO, to spearhead this transformation to the next level of growth. Kapil manages a book of over 7 Lakh Crores INR at HDFC Bank and has successfully handled the largest merger in the industry. Kapil, an alumnus of Harvard Business School, Postgraduate in Management and Engineer, has been known in the industry as a paradigm pioneer for leading digital lending innovations and has been an integral part of the HDFC Bank’s growth journey for over 25 years,” Adar Poonawalla, Chairperson, Poonawalla Fincorp said.
Abhay Bhutada has been promoted to the Group level and will take on a more strategic and expanded position at Poonawalla Group, managing strategy, investment, and finance. “He shall continue to be as Non-Executive Director on the Board of Poonawalla Fincorp Ltd,” added the official.
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