Indian billionaire Ajay Piramal-led Piramal Enterprise has named Jairam Sridharan as the managing director of its newly acquired entity Dewan Housing Finance Corporation Ltd. (DHFL), CNBC-TV 18 reported on Friday, October 8.
This news comes just weeks after the Piramal had successfully completed DHFL’s acquisition on September 29 for a total consideration of Rs. 34,350. As part of the acquisition, DHFL was to merge with Piramal Capital and Housing Finance Ltd. with Piramal Enterprise having 100 per cent ownership of the merged entity.
Currently, Jairam Sridharan is the chief executive officer of Piramal Retail Finance, including the housing finance arm of the Piramal Group. With a career spanning over two decades, he has held a diverse range of domestic and international retail finance roles.
Prior to his position at Piramal Group, he had been in charge of a range of roles at Axis Bank. As the President, Retail Lending & Payments at Axis Bank, he was engaged with propelling growth in the retail lending and payments businesses comprising retail lending products such as home and personal loans, cards business (credit, debit & prepaid) and the agriculture & rural lending business. In his five-year tenure, Axis Bank emerged as one of the top five retail lending institutions in the country.
Before being part of Axis Bank, he was associated with USA-based consumer bank Capital One finance as the Head – ‘New to Credit’ Card Acquisitions in their US Cards Business.
At the origin of his career with ICICI Bank, where he served as Head of the bank’s Business Intelligence Unit, he has been credited with having a crucial role in their initial venture into the retail lending businesses.