MAS Financial Services Strengthens Senior Management Bandwidth

/ -- MAS Financial Services (MAS), a specialised retail financing services company headquartered in Ahmedabad, today announced that in a move to strengthen its senior management bandwidth, the Company has created certain new senior positions and has elevated some of the existing Key Management Personnel (KMPs). All the new appointments were approved by the board in its meeting held on November 6, 2019.

MAS Financial's current board member and Chief Operating Officer (COO), Mrs. Darshana Pandya is now elevated to a newly carved role of Chief Executive Officer (CEO) and member of the board. In her new role as the CEO, Mrs. Pandya will lead the organisation under the guidance of the board and will be responsible for MAS Financial's strategic growth initiatives. Mrs. Pandya has been with MAS Financial for the past 23 years.

The Company has elevated the current Vice President - Finance, Mr. Ankit Jain to the position of Chief Financial Officer (CFO). Mr. Jain will continue to lead the Company's debt and capital raising programs and will play a key role in value creation for stakeholders. Mr. Jain is with the Company since 2010.

Besides these appointments, MAS Financial has also elevated the current Head - Risk Monitoring, Mr. Nishant Jain to a new position of Chief Risk Officer; and the current Vice President - Retail Asset Channel, Mr. Dipak Dangar to a new role of Chief Operating Officer - Retail Asset Channel (COO - RAC).

This management team will support and work closely with Mr. Kamlesh Gandhi, Chairman & Managing Director and Mr. Mukesh Gandhi, Wholetime Director, along with other board members.

"With their rich experience and a long track record of working with MAS Financial Services, these promotions are well deserved and in-line with our endeavour of recognizing and promoting the personnel from the ranks and to have a succession roadmap by creating a strong senior level bandwidth. I congratulate them on their new roles and look forward to working with them to make MAS Financial Services one of the most efficient distributors of financial services and create value on a very large scale," said Mr. Kamlesh Gandhi, Chairman & Managing Director, MAS Financial Services Limited.

About MAS Financial Services Ltd.

MAS Financial Services Ltd. (MAS) has been engaged in specialised retail financing services for over two decades. MAS predominantly caters to the MSME sector through its strong distribution network of around 3500 centres and more than 120 regional NBFCs, which results in to not only a PAN India presence but also helps the Company to leverage on their demographic and niche expertise.

The Company's ultimate objective is of extending credit where it is due, accompanied by a very effective last mile delivery of credit.

MAS currently manages AUM of more than Rs.6000 crs. having registered a very steady and robust growth of more than 25% over a sustained period of two decades. It had the privilege of having marquee investors like FMO, DEG, ICICI venture and Sarva Capital before going to the IPO in October 2017, which was a stupendous success.

MAS due to its niche expertise, strong distribution network and a high capitalisation level, is poised for a sustained and a quality growth.

Brief Profile of New Appointees At MAS Financial Services Limited
Mrs. Darshana Pandya from Director & COO to Director & CEO:
Mr. Ankit Jain from Vice President - Finance to Chief Financial Officer ("CFO")
CA Nishant Jain from Head - Risk & Monitoring to Chief Risk Officer ("CRO")
Mr. Dipak Dangar from Vice President - Retail Assets Channel to Chief Operating Officer - Retail Asset Channel ("COO-RAC")