Mr. Manish Jaiswal joins as new MD & CEO of Magma Housing Finance
by Shrutee K/DNS
Mumbai, 3rd July 2017: Mr.
Manish Jaiswal, a BFSI Industry veteran has joined as the MD & CEO – Magma
Housing Finance Limited. Mr. Jaiswal replaces Mr. Sachin Khandelwal who had
stepped down to pursue interests outside the group. Mr. Jaiswal in his new profile
will also hold the additional charge of heading Magma’s SME Business.
Mr.
Jaiswal has over 25 years of rich corporate experience and joined Magma after a
very successful stint with CRISIL where he was spearheading the businesses of
Risk Advisory, Research and SME Ratings. He was a member of RBI's Usha Thorat
committee on Revitalisation of Distressed Assets which introduced the concept
of Special Mention Accounts (SMA), Joint Lenders Forum (JLF), Corrective Action
Planning (CAP) and Central Repository of Information on Large Credits (CRILC)
in Indian Banking system. During his stint with CRISIL, Mr Jaiswal also
pioneered and built from scratch the Early Warning System, which is under
implementation with some of the largest public and private banks in India. He
has led Risk Advisory to most domestic banks and has been involved in
implementation of Basel III and strengthening Integrated Risk Management with
leading Indian Private as well Public sector banks and has been an eminent
member of SEBI committee of Corporate Bonds and Securitization Advisory
Committee (CoBoSAC) and advised EPFO, PFRDA.
Mr.
Jaiswal in his prior stints is credited with setting up and building SME
businesses from inception or turning them around for almost a decade and a
half. He held key positions in the companies such as Dhanlaxmi Bank, Fullerton,
Citigroup and Eicher motors. During his career span, Mr. Jaiswal has built and
managed assets of more than 15000 crores of SME secured portfolio.
Mr.
Jaiswal is an engineer from VNIT, Nagpur and has done his Fast Track General
Management from IIM, Bangalore.
Commenting on the development, Mr. Sanjay Chamria, Vice Chairman &
MD of Magma Fincorp Limited said, “In the past one year, Magma has inducted senior experienced industry
personnel to head their businesses which have been part of our broad talent
management strategy designed to strengthen top management and foster
organizational success. I welcome Mr. Manish Jaiswal in Magma family and wish
him the best in his new role to lead our Mortgages and SME businesses. I am
confident that with his rich experience, hands on expertise and under his able
leadership and guidance, Magma will scale newer heights.
With joining of Manish we now have full leadership team in place.
Entire leadership of Magma, now operating from Mumbai, is fully committed to
lead the transformational journey over next 3 to 5 years.”
About Magma: Magma
Fincorp Limited (“Magma”) is a non-deposit taking non-banking finance company
(NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance
Company. The Company, having started operations over two decades back, is
listed on the Bombay Stock Exchange Limited and the National Stock Exchange in
India.
Magma
provides a bouquet of financial products including financing of Utility
Vehicles & Cars, Commercial Vehicles, Construction Equipment, Used
Commercial Vehicles, Tractors and SME Loans. It also operates in Affordable
Housing Finance and General Insurance segments. Magma has a dedicated base of
around 5 Lac active customers. The company operates through 284 branches in 25
states / UT and employs around 9000 people.
For more
information please log in to www.magma.co.in
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