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MUMBAI: Mahindra Rural Housing Finance, a subsidiary of Mahindra and Mahindra Financial Services Ltd, on Tuesday said it has appointed Shantanu Rege as the managing director and chief executive officer.

Rege will succeed Rajnish Agarwal, who stepped down from the role on 30 September. Rege joined as an executive assistant to the group chairman, Anand Mahindra, in 2012. Post this, he moved to the rural housing business in 2016 as the chief operating officer and has played a pivotal role in driving growth opportunities within the rural housing business and spearheaded the setting up of the affordable housing business, a statement said.

Ramesh Iyer, vice-chairman and managing director, Mahindra Finance said, “We are excited to have Shantanu Rege spearhead our Mahindra Rural Housing Finance business and we will look forward to capitalizing his expertise and leadership to explore newer and attractive growth opportunities."

Rege said in a statement that the rural and affordable housing businesses have tremendous potential for growth. “Over the next few years, we hope to transform the company into a leading housing finance franchise which addresses the housing needs of a cross-section of customers through innovative solutions and partnerships," he said.

Rege has an MBA from Harvard Business School and has previously worked with McKinsey & Co and Blackstone in Mumbai prior to joining Mahindra Group.

Mahindra Rural Housing Finance, the statement said, has seen commendable achievements on all fronts: digital transformation, institutionalising robust organisational and people processes and constantly pushing the envelope when it comes to exploring new products and geographies.

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