Poonawalla Fincorp strengthens top deck with six new appointments

While Rajendra Tathare is Chief Credit Officer, Rashmi Prasad is Head Analytics. Others include Mitul Budhbhatti, Manish Kumar, Surya V and Indiresh Phaltankar

Poonawalla Fincorp Ltd, (PFL) formerly Magma Fincorp, has revamped and strengthened its top team by making six new appointments in functions like credit, risk management and human resources.

Abhay Bhutada, Managing Director, Poonawalla Fincorp said the leadership team is getting strengthened to make the firm a professionally run company with a strong governance culture. “We want to rebuild the organization with a very solid footing”. Poonawalla group acquired Magma Fincorp in February 2021. It has already roped in Vijay Deshwal as chief executive of PFL. Vaccine maker Serum Institute is the flagship of Poonawalla group.

Rajendra Tathare has joined as Chief Credit Officer. He was last associated with Fullerton India as Head of Credit Underwriting and spent almost 15 years with them.

Rashmi Prasad joined as Head Analytics. Having experience of more than 16 years, he was last heading Analytics for Tata Capital and has previously been associated with players like Bajaj Finance and L&T Finance, PFL said in a statement.

Mitul Budhbhatti joined the company for Credit & Risk Monitoring from CARE Ratings. He worked with a rating agency for more than 15 years managing the BFSI ratings.

Manish Kumar comes on board as a Group Chief Human Resources Officer. Kumar worked earlier with RBS, IDFC and ICICI bank.

Surya V has been appointed as its Chief Strategy Officer. He has more than two decades of experience in BFSI segment and was last associated with ICICI Bank.

Indiresh Phaltankar will lead foray into the Loan against Property (LAP) business as Business Head for this product. Phaltankar, an ISB graduate with over two decades of experience, was previously associated with HSBC and Aditya Birla Finance.