IDFC has announced the names of board members as well as the management team for IDFC Bank, along with its brand identity. The nine-member board will be led by Rajiv Lall as executive vice-chairman and MD where as former Union home secretary Anil Baijal will be non-executive chairman on the board.
“We are fortunate to have an experienced and diverse team as part of the board and management. It provides strong reassurance about the quality of strategic and operational guidance available to IDFC Bank,” Lall said.
Other members of the board include former controller and auditor general Vinod Rai, Infosys chair professor for agriculture at ICRIER Ashok Gulati, former MD for operations at World Bank Gautam Kaji, former Goldman Sachs MD Ajay Sondhi, former Citibank India CFO Abhijit Sen, founder of Swadhar Microfinance Veena Mankar, and MD & CEO of IDFC Vikram Limaye.
The management team includes Ajay Mahajan as head of commercial & wholesale banking, Animesh Kumar as head of HR, Brand & Foundation, Avtar Monga as chief operating officer, Naval Bir Kumar as head of personal and business banking, Pavan Kaushal as chief risk officer, Rajeev Uberoi as general counsel and head of audit, controls and compliance, Ravi Shankar as head of Bharat Banking and Sunil Kakar as CFO.
IDFC received final approval from RBI in July, making it the second lender to enter the banking sector after more than a decade. Post-demerger, all lending businesses of IDFC will be demerged and transferred to IDFC Bank. IDFC Bank is set to commence operations with 23 branches, out of which 15 will be in MP and, by April 2016, it will have 60 branches across India.