Manish Jaiswal joins as new MD, CEO of Magma Housing Finance, will also lead Magma SME Business

Manish Jaiswal, a BFSI Industry veteran joined as the MD and CEO - Magma Housing Finance Limited. Jaiswal replaces Sachin Khandelwal, who had stepped down to pursue interests outside the group. Jaiswal, in his new profile will also hold the additional charge of heading Magma's SME Business.

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 the Reserve Bank of India'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 the Indian banking system.

During his stint with CRISIL, 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 the implementation of Basel III and strengthening integrated risk management with leading Indian Ppivate 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.

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, Jaiswal has built and managed assets of more than 15000 crores of SME secured portfolio.

Jaiswal is an engineer from VNIT, Nagpur and has done his Fast Track General Management from IIM, Bangalore.

"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 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," said Sanjay Chamria, Vice Chairman and MD of Magma Fincorp Limited.

With the joining of Manish, Magma now has a full leadership team in place. Entire leadership of Magma, now operating from Mumbai, is fully committed to lead the transformational journey over the next three to five years.