India Infoline Finance ropes in Sumit Bali as CEO and Executive Director
After working with Kotak Mahindra for more than 12 years, Sumit Bali will now head India lnfoline Finance as its CEO and Executive Director.
“Sumit, with his vast and varied experience in lending across multiple asset classes, will drive our NBFC to the next level of growth,” said R. Venkataraman, MD IIFL Holdings.
Sumit’s appointment will be effective from the 25th of June, as per a regulatory filing shared by IIFL. Before Sumit, Rajashree Nambiar was heading the business at IIFL. In February 2018, Rajashree left IIFL to join Fullerton as MD and CEO.
Before joining India Infoline, Sumit was leading the Kotak Mahindra's lending businesses including home loans, LAP, secured working capital for small businesses, business loans, credit cards, loans against shares and salaried personal loan business. As the Senior Executive Vice President he was managing an overall book size of over Rs. 54,000 crores. He has taken this responsibility four years back in April, 2014. Prior to this he served as the CEO of Kotak Mahindra Prime Limited from October 2005 to April 2014.
His vast leadership experience in Kotak will come in handy for his new role at IIFL, as he takes on the responsibility of driving the NBFC towards growth.
Sumit is an alumnus of IIM Ahmedabad where he has done his MBA from and he also holds a graduation degree Maths from St Stephen’s College, Delhi University.