Non Banking finance company IndoStar Capital Finance appoints Deep Jaggi as CEO
- ByTejika Bajaj | January 10, 2022
The non-banking finance company IndoStar Capital Finance has recently announced the appointment of Deep Jaggi as its new CEO as the current CEO R Sridhar has decided to step down from his post. Deep Jaggi has therefore been promoted from his initial position of a CBO (Chief Business Officer) to the CEO (Chief Executive Officer) of the firm.
While Sridhar has stepped down from his position, he will still continue to serve as the company’s Vice Chairman until the end of his five-year term. Sridhar’s contribution to the business has been pivotal during the company’s transformation from a corporate lender to a retail focused financier.
“With this change, we are paving the way for a seamless leadership transition. We thank Sridhar for his contribution and believe IndoStar will benefit tremendously from Deep’s extensive retail lending experience. We wish Deep and Sridhar the very best,” said Bobby Parikh, Chairman of IndoStar.
As the CBO, Jaggi was responsible for looking after the retail development tranche and collections of the business. Further, he played an integral role in expanding the presence of the company across various states in India. Prior to this, he worked with HDFC Bank’s HDB Financial Services arm and Apollo Tyres.
Expressing his views on the appointment of a new CEO, the Vice Chairman of Indostar, Sridhar said, “Deep has not only been an effective Chief Business Officer, but has also proven himself to be a successful leader. He is the perfect choice to lead IndoStar through its next phase of growth and scale-up. I wish him all the best in the new role.”
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