IIFL Finance announces Additions to the Board and Enhancement in Senior Management Team

Bengaluru, March 14, 2024: IIFL Finance Ltd., a leading non-banking financial company, today announced significant enhancements to its Board of Directors and senior management team.

Appointment of Directors to the Board:

Mr. Mr. Bijou Kurien, Additional (Independent) Director

Mr. Kurien is a well-respected consumer leader with over 40 years of experience in building brands, businesses and creating organizations. He has been associated with marquee brands in the fast-moving consumer products, consumer durables and retail industry in India. He has also created India’s largest exclusive brand retail chains. He joined Reliance Industries as the President & CEO of their ambitious Retail venture — Reliance Retail. Currently, he is a member of the Strategic Advisory Board of Premji Invest. He is also serving as an Independent Director on the Board of several listed and unlisted companies.

Mr. Kurien has been associated with the India Retail Forum & Retailers Association of India and has significantly contributed to its development. In addition, he is the Mentor of the FICCI National Retail Committee, member of the Advisory Council of the RAI and Governing boards of various academic institutions.

Mr. Nihar Niranjan Jambusaria, Additional (Independent) Director

Mr. Nihar Niranjan Jambusaria is a Member of the Institute of Chartered Accountants of India (ICAI). His illustrious career includes serving as the President and Vice President of the ICAI for the year 2021-22 and 2020-21, respectively. Mr. Jambusaria has been a senior partner at N. N. Jambusaria & Co., Chartered Accountants, since 1984.

His consultancy services extend to the renowned Reliance group and various other organizations in the private and public sectors. He specializes in Direct Tax, International Tax, Mergers & Acquisitions, FEMA, and Business Restructuring. Previously, Mr. Jambusaria held the position of Senior Vice President at Reliance Industries Ltd. from 2011 to 2020. Mr. Jambusaria has served as a Member of the Government Accounting Standards Advisory Board (GASAB) and the Audit Advisory Board of the Comptroller and Auditor General (CAG).

Strengthening the Senior Management team:

Mr. Shivalingam A. Pillai, Chief Compliance Officer

A veteran in Financial Management, Regulatory Compliance, and Corporate Governance. Mr. Pillai will be the Chief Compliance Officer (CCO) of the Company and will lead the Compliance function of the Company including Regulatory Compliance. Mr. Pillai has over 25 years of distinguished experience with esteemed organizations such as Slefin India Financial Services Pvt. Ltd., HDFC Sales Pvt. LTD, and M&M Financial Services.

Mr. Abhiram Bhattacharjee, Chief Operating Officer

With extensive experience in Banking and Financial services, Mr. Bhattacharjee will oversee various functions which form an important part of the Operational Strategy for the company. Mr. Bhattacharjee, currently the Chief of Staff (COS), will now be designated as the Chief Operating Officer (COO). He has over 29 years of experience in Investment Banking, Financial Advisory, and Commercial Banking. He has worked with distinguished companies like Kotak group, Morgan Stanley, Ernst & Young, and ICICI Securities.

Commenting on the addition to the Board of Directors and enhancement to the senior management team, Founder of IIFL Group and Managing Director of IIFL Finance, Mr. Nirmal Jain said, “The addition of illustrious names to the Board and strategic enhancements to the senior management team underscores IIFL Finance’s ongoing focus to strengthen the Company’s Compliance, Operations, and Business practices. By investing in top talent, IIFL Finance not only reinforces its commitment to its customers and stakeholders but also solidifies its foundation for future innovation and growth.”

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