New executive VP for Edelweiss's distressed assets business

EAAA is the alternative investments arm of Edelweiss Capital and Antony will head its distressed assets business.

Antony has over 38-years of experience in project financing and distress asset management including monitoring and recovery.

"At Edelweiss, we look at distressed assets as major busniess opportunity. We are very happy that a professional with the experience and knowledge of Siby Antony has decided to head the business," Edelweiss Capital's Chairman and Managing Director, Rashesh Shah, said in a statement issued here.

Prior to joining Edelweiss, Antony was the Executive Director at IDBI Bank looking after the Stressed Assets Stabilisation Fund of the GoI.

During his tenure, he was responsible for resolving over 400 out of 600 distress cases totaling Rs 3,000-crore in little over two years, the statement said.