The Xander Group Inc. has appointed three new Directors to the board of Xander Finance Limited (“XFL”), its Mumbai headquartered, Reserve Bank of India licensed, Indian Non-Bank Finance Company (NBFC). Rajesh Jogi, Tariq Chinoy, and Varun Gopinath have joined the newly recast board as part of the company’s plan to ramp up its pursuit of emerging opportunities in the financial services sector in India. Mr. Rohan Sikri, Senior Partner at The Xander Group, will continue as Chairperson of the NBFCs board.
Jogi is a risk management professional with more than three decades of experience in corporate, institutional, retail and private banking sectors, having
The new board appointments are a part of the revamp of the NBFCs’ Indian management team. The exercise commenced last year at the request of the Xander Partnership, which remains the company’s largest, and controlling, shareholder. As part of development, Amar Merani, CEO at the NBFC till the end of FY 2021 has moved on to pursue other interests on the expiry of his five-year contract.
Speaking on the appointments, Sid Yog, Founder of The Xander Group Inc. said from London: “At heart we remain an entrepreneurial group and every platform we sponsor should always reflect that. Adding depth and breadth to the XFL board is a key first step in ensuring our well capitalized Indian NBFC remains nimble in its pursuit of new opportunities, while retaining the robustness in governance we expect from any Xander venture.”
“Even though the Indian financial services opportunity is large, for ventures to scale local management needs to demonstrate entrepreneurial hunger and alignment of interest with shareholders. We hope the newly recast board will provide both strategic guidance on key matters, and bring a renewed sense of entrepreneurial urgency to XFL, as it starts its second decade of operations,” he added.