Piramal Enterprises Limited (PEL) has announced the appointment of Rupen Jhaveri as its Group President, with primary focus on financial services. Jhaveri joins PEL from global investment firm KKR, where he was a managing director at its India private equity team. Prior to joining KKR, he was with Goldman Sachs & Co in its Principal Investment Area (PIA) and Warburg Pincus in Mumbai.

In this newly-created role, Jhaveri will be responsible for business development, strategy, mergers and acquisition, capital allocation and corporate finance. The appointment is effective January 24, 2022, the company said in a statement.

His appointment follows the company's announcement in October of demerging its financial services and pharmaceuticals operations, with the aim to simplify PEL's corporate structure and unlock value. Post the demerger, PEL will become one of the largest diversified NBFCs with capabilities in affordable home lending, small business lending, construction finance and digital embedded finance, the company said.