Mahindra & Mahindra Financial Services Limited (Mahindra Finance) announced that the appointment of Mr. Ramganesh Iyer as Chief Operating Officer (COO) has been withdrawn by mutual agreement. This development was communicated via a regulatory filing to the stock exchanges on April 10, 2025.
The company had initially informed the exchanges on March 24, 2025, about Iyer’s proposed appointment to the senior executive role. However, both parties have now decided not to proceed with the appointment. The filing did not specify any reasons behind the mutual decision, and there has been no update regarding a new candidate for the position.
Ramganesh Iyer (Ram) brings over two decades of experience in the financial services sector, having worked across management consulting and entrepreneurship. During his 12 years in consulting, he served as a Partner at Bain & Company, where he led multiple high-impact projects in financial services for Indian and global clients, including fintech firms. His portfolio included strategy development, customer-centric transformation initiatives, data & analytics work, and M&A due diligence.
Prior to his consulting career, Iyer co-founded and scaled two wealth-tech startups — Fisdom and PARK Financial Advisors. He is also a thought leader in the domain, having authored several reports and articles on personal finance, lending, and the evolution of fintech in India.
Mahindra Finance noted that the disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There are currently no changes to other leadership roles within the company.
