BackAnand Rathi Global Finance appoints Ashish Kohli as CEO of SME, retail
Ashish Kohli, who has been in the leadership position for the last eight years, comes with an overall experience of over 18 years in the lending business
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Anand Rathi Global Finance, the non-banking finance company of the Anand Rathi Group, has named Ashish Kohli as the chief executive officer and director for its new SME and retail division.
Kohli, who has been in the leadership position for the last eight years, comes with an overall experience of over 18 years in the lending business and has joined Anand Rathi Global Finance after a two-year stint at Indostar Capital Finance.
He had started his career with mortgage lender Housing Development Finance Corp. and has been instrumental in strategizing and building book for various NBFCs and banks including Bajaj Finance, Indiabulls Housing Finance and Citibank N.A since then.
“Given our focus on SME and retail, the induction of Ashish Kohli, with his extensive experience, will help us in building a differentiated business in this rapidly growing, yet competitive field," said Amit Rathi, managing director, Anand Rathi Group.
It plans to start with secured and un-secured lending and is actively building teams around this business. Once these two products stabilize, it will also venture into consumer finance which includes machinery finance, invoice discounting, line of credit, etc.
The company will initially focus on retail SME customers like traders, manufacturers, wholesalers and professionals to name few. Professionals such as doctor, CA and architects who want to expand the network and are looking for funds to buy commercial properties.
“We intend to focus primarily SME segment who need funds either to acquire property or for growth capital,"said Kohli.
The firm is aiming to have an asset under management (AUM) of around Rs700 crore by financial year 2017-18, and expand it to Rs3,000 crore next financial year and Rs5,000 crore over the next two-three years for the SME and retail lending division.
It plans to start with the 10 locations—Delhi, Mumbai, Chennai, Bengaluru, Kolkata, Jaipur, Surat, Ahmedabad, Hyderabad, Indore—and expand to 25 locations with 12-19 months from now.
“We intend to build strong portfolio and source customers from both the means which is channel partners and through fintech where we would be building algorithms to ensure right customer is on board. Thus it would not be only fintech model where many of new NBFC are entering but that would be just one source of acquisition," he added.
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