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MUMBAI : Non-bank lender Clix Capital on Thursday announced the appointment of Rakesh Kaul as its new chief executive officer with effect from 16 August.

As the chief executive officer (CEO), he will be responsible for all business verticals, reporting directly to the board, the lender said in a statement.

A 24-year veteran of the financial services sector, Kaul specializes in retail banking, wealth management, insurance and mortgages, and has held a wide variety of leadership positions in India, Malaysia and other countries in the Asia-Pacific region. He joins Clix Capital from RHB Malaysia, where he led the consumer banking business for the group covering Malaysia and Asean markets. Earlier, he was associated with Citigroup, holding several leadership roles across its consumer banking, corporate banking and capital markets divisions.

“Be it product development, sales and distribution, corporate strategy, business management and risk Management, his cross-functional exposure has been deep and diverse. He has tremendous experience in leading teams, managing businesses through change cycles, building scale and driving transformation," said Pramod Bhasin, chairman of Clix Capital.

Anil Chawla, founder of Clix Capital said, “I’m thrilled to have him in this role and look forward to collaborating and advancing our founding vision of bridging the credit gap among underserved and unserved cohorts, including MSMEs and new-to-credit consumers. He holds a deep understanding of retail and corporate banking along with stellar industry networking, all of which will be invaluable for the growth of our company."

According to Kaul, Clix will focus on deploying cutting-edge technologies and insightful innovations in driving lending models responsive to end-customer needs.

“While significantly boosting financial inclusion, Clix Capital remains poised for rapid market expansion," said Kaul.

Clix offers financing solutions across five business segments of corporate finance, equipment finance and leasing, SME finance, consumer finance, and housing finance. Clix has assets under management (AUM) of about 5,000 crore across over three million customers and a presence in over 15 cities.

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