Pune: Non-banking financial company Poonawalla Fincorp has appointed Arvind Kapil as its Chief Executive Officer. Kapil was a senior executive of HDFC Bank. He is currently the group head of mortgage banking business at the bank, and also oversees home loans, loans against property (LAP), and sales business inherited from the merger with Housing Development Finance Corp (HDFC) last year.
Poonawalla Fincorp, in a press release said, “As we continue to develop new business verticals and the next level of growth, it is pleased to share that Arvind Kapil will be joining them as MD and CEO. Kapil manages a book of over ₹7 lakh crore at HDFC Bank.”. The exact date for Kapil’s assumption of the CEO role was not disclosed.
Their current CEO, Abhay Bhutada, has been promoted to a higher role within the Cyrus Poonawalla Group. He will retain his position as a non-executive director on the board of Poonawalla Fincorp, Chairman Adar Poonawalla confirmed.
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