Tata Capital names Rajiv Sabharwal as new CEO-MD

He will join the company in January 2018

Tata Capital on Thursday named Rajiv Sabharwal as its next CEO and MD who will take charge from April next year.

Sabharwal will join Tata Capital in January 2018 and would take over the position from current Managing Director & CEO Praveen P Kadle, Tata Capital said.

Kadle will assume other responsibilities in the Tata Group effective April 1, 2018.

"With India's financial sector growing at a rapid pace, we are confident that his extensive experience will be highly beneficial as we expand our footprint in this industry. His expertise and knowledge will help Tata Capital chart the next phase of growth in financial services," N Chandrasekaran, Chairman, Tata Sons said in a statement.

An IIT graduate from Delhi and postgraduate from IIM Lucknow, Sabharwal currently is a partner at True North Managers LLP, formerly India Value Fund Advisors.

He is a banking veteran of over 26 years experience and served as executive director on ICICI Bank's board before joining True North.

The Tata Group subsidiary caters to retail, corporate and institutional financial needs through consumer finance, advisory services, commercial finance, infrastructure finance, investment banking, private equity advisory and credit card.