Poonawalla group has appointed Vijay Deshwal as its Group Chief Executive Officer (CEO). It had also acquired Magma Fincorp. Vijay Deshwal has over six years of experience. Deshwal would lead the lending, housing finance business and its insurance business, said the company. He will operate out of the Pune office.
In his experience, Vijay Deshwal has worked in numerous financial institutions including NBFCs. He took the responsibility of conceptualizing and driving liability strategy for the Corporate Ecosystem in the bank.
Before joining hands with the Poonawalla group, Vijay was associated with ICICI Bank. He was Business Head responsible for the fast-growing services sector business which comprises of new age businesses that laid emphasis on technology and digital intervention.
Vijay had a postgraduate degree from Indian Institute of Management Ahmedabad (IIMA).
Abhay Bhutada, Managing Director, Magma Fincorp expressed his warm welcome to Vijay. “We are pleased to have Vijay Deshwal in our team. His extensive knowledge and rich experience across the various facets of banking and financial services will drive the transformation and charter a new phase of growth under the Poonawalla brand,” he said.
Deshwal also shared his happiness and gratitude to come on board with the group. “It’s a privilege to join the group and I look forward to working together with the teams towards creating a service-oriented institution for its customers and delivering value to the shareholders,” he said.
