Shantanu Mitra will re-join Temasek-backed Fullerton India Credit Company Limited (Fullerton India), as its chief executive and managing director from April 2. Earlier, he was MD and CEO of the company in 2017. Rajashree Nambiar stepped down as MD & CEO in January 2021 after a three-year stint to pursue outside interests.
Fullerton, in a statement, said Mitra has over 20 years experience at Standard Chartered and Citibank, where he had stints in India, Singapore and Thailand. His role in Standard Chartered was Senior Regional Risk Officer, India, Middle East & Africa, based in Mumbai. His previous experience with Fullerton included a stint from 2010 to 2017, initially as the head of consumer risk for the parent company Fullerton Financial Holdings and subsequently a very successful tenure as CEO & MD.
In January 2021, the company also announced changes in senior leadership positions. Its chief risk officer Pavan Kaushal was appointed chief operating officer and chief financial officer (CFO) Pankaj Malik was also to work as the head of strategy execution, the company said.
Kaushal and Malik will be part of an interim executive committee and report to the board. Sunil Kaw has been appointed interim chief risk officer.
The overall strategy and direction for the companies remain unchanged and will continue to be reviewed by the respective Boards from time to time, Fullerton had said.
Fullerton India is wholly owned by Fullerton Financial Holdings, which in turn is a wholly owned subsidiary of Singapore-based Temasek. The finance company Product offerings include secured products which comprise primarily of mortgages/loans against property, and commercial vehicle loans. The unsecured product offerings comprise of personal loans and rural group loans. The company operates through 648 branches.