Read more about Serum Institute s Adar Poonawalla appointed chairman of Magma Fincorp on Business Standard. Vijay Deshwal, currently with ICICI Bank as its business head, will take charge as CEO of Magma Fincorp in July
Adar Poonawalla takes charge as Magma Fincorp Chairman equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Synopsis
The lender has also appointed Abhay Bhutada as its managing director and Vijay Deshwal as chief executive officer. Deshwal, currently a business head at ICICI Bank, will assume charge at Magma from the first week of July. He will also be the Group CEO of Poonawalla Group’s financial services business.
Agencies
Magma on Monday also reported widening of net losses to Rs 626 crore in the March quarter compared with Rs 35 crore loss in the year ago period on account of aggressive provisioning to cover stressed assets.
Magma Fincorp has appointed Adar Poonawalla as its chairman as part of a management overhaul following the Poonawala-controlled Rising Sun Holdings acquiring a controlling stake in it.
Magma Fincorp also said that Vijay Deshwal, a seasoned banker with a track record of over two decades, will take charge as the company s CEO from the first week of July.
After Adar Poonawalla and his family, Cyrus Poonawalla Also Reached London - अदार के पिता सायरस पूनावाला भी पहुंचे लंदन, बोले- देश नहीं छोड़ा, गर्मी की छुट्टियां बिताने आया हूं indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.