Poonawalla Fincorp has not disclosed the date of Kapil’s appointment to the position of CEO.
On Monday, Poonawalla Fincorp, a non-banking financial organization based in Pune, announced the appointment of Arvind Kapil, a senior executive at HDFC Bank, as its CEO.
As the group head of the bank’s mortgage banking division, Kapil currently oversees the sales division of the former Housing Development Finance Corp. (HDFC), which merged with the bank last year, as well as home loans and loans against property (LAP).
“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 company said in a press release.
Poonawalla Fincorp has not disclosed the date of Kapil’s appointment to the position of CEO.
According to the corporation, Abhay Bhutada, the current CEO of the Cyrus Poonawalla Group, has been promoted to the group level for a more strategic and significant position. He will remain a non-executive director on the Poonawalla Fincorp board, according to a statement from chairman Adar Poonawalla.
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