Poonawalla Fincorp has announced the appointment of Arvind Kapil as its Chief Executive Officer (CEO). Kapil, a seasoned executive from HDFC Bank, has served as the group head of the mortgage banking business at HDFC Bank. In addition, he has overseen operations related to home loans, loans against property (LAP), and sales business resulting from the recent merger with Housing Development Finance Corp (HDFC).
Poonawalla Fincorp shared in a press release, ‘As we continue to forge ahead with new business verticals and aim for the next phase of growth, we are pleased to welcome Arvind Kapil as the Managing Director and CEO. Kapil has successfully managed a substantial book of over ₹7 lakh crore at HDFC Bank.’
The exact date of Kapil’s assumption of the CEO role was not disclosed in the announcement.
This appointment comes as the current CEO, Abhay Bhutada, transitions to a higher role within the Cyrus Poonawalla Group. While stepping down as CEO of Poonawalla Fincorp, Bhutada will retain a significant position within the organization, serving as a non-executive director on the board. Chairman Adar Poonawalla confirmed Bhutada’s continued involvement in guiding the company’s strategic direction.
