Chennai-based non-banking finance company Sundaram Finance has announced the appointment of Rajiv Lochan as the new Managing Director, effective April 1, 2021. Lochan will succeed T T Srinivasaraghavan, who will retire on March 31, 2021, after completion of 38 years of service, including an 18-year tenure as Managing Director. However, he would remain on the board and play a mentorship role, the company said.
“It has been a great privilege and honour to lead this outstanding group of people who make up Team Sundaram, over all these years. Our enduring commitment to the Sundaram Values will ensure that Sundaram Finance scales greater heights under the new leadership team,” reminisced Srinivasaraghavan.
Sharing his thoughts, S Viji, Chairman, Sundaram Finance, said, “Under his leadership the company has demonstrated its traditional focus on asset quality and, most importantly, its adherence to ‘Sundaram Values’ of prudence and customer focus. The company and its shareholders owe a debt of gratitude for his service.”
Taking over the reins from Srinivasaraghavan is Rajiv Lochan, who presently holds the position of Director of Strategy. Lochan has 25 years of experience in financial services. He served as a Partner in the consulting firm McKinsey & Company, and most recently, as Managing Director of Kasturi & Sons.
Commenting on the new role, Lochan said, “The strength of Sundaram Finance lies in its blend of tradition and service with cutting edge management processes and technology. This gives us a strong platform to grow in the years to come, and I look forward to the challenge and responsibility of leading ‘Team Sundaram’ to greater heights.”
In a recent board meeting, the company introduced a couple of leadership changes, effective April 1, 2021. Deputy Managing Director, Harsha Viji, will assume the office of Executive Vice Chairman. In his new role, Viji will take responsibility for the overall strategy and direction of Sundaram Finance Ltd., and other group companies in financial services. Additionally, the current Director - Operations, A N Raju, will assume the role of Deputy Managing Director.
With a shuffling of leadership for the new financial year, how the new leaders chart the growth trajectory for the organization, is to look forward to.