Former bureaucrat KP Krishnan is new chairman of Shriram Capital board

New Delhi: Shriram Capital Ltd (SCL), the holding company for financial services and insurance entities of the Shriram Group, on Monday said it has appointed K.P. Krishnan, retired skills and entrepreneurship secretary, as the new chairman on the board of the company.

Krishnan, a career bureaucrat, has almost three and half decades of experience as an IAS officer and has served in several positions in the government. An FPM (PhD) in economics from IIM Bangalore, Krishnan has studied Economics from St. Stephen's College, and Law from the Campus Law Centre in Delhi University.

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“We are very confident that his leadership will have a significant impact on the growth and direction of our businesses,” R. Thyagarajan, founder of Shriram Group said in a statement.

“His versatile experience across sectors and deep understanding of the financial services sector will provide a major thrust in the vision and growth of the Shriram Group,” said D. V. Ravi, managing director of SCL.

Before retiring as the skills secretary in 2019, Krishnan had served as special and additional secretary with the department of land resources, additional secretary and at the department of economic affairs in the Ministry of Finance, and also in the Prime Minister’s Economic Advisory Council (2010-2012). Besides, he had worked with Karnataka government in several positions and as executive director at World Bank Group in Washington DC.

Currently, Krishnan is serving as an Investor Education and Protection Fund chair professor in regulatory economics, at the National Council for Applied Economic Research (NCAER).

“I look forward to engaging with the leadership team of the Group and making a difference with the implementation of appropriate strategies that will enable the Group to grow and establish newer milestones,” Krishnan said on his appointment.

SCL is the overarching holding company for financial services and insurance entities of Shriram Group. The group has a sizable presence in commercial vehicle financing, retail financing, chit fund, equipment financing, housing finance, life insurance, general insurance, stockbroking, distribution of financial products, and wealth advisory services.

Shriram Capital and its operating entities have an overall customer base in excess of 12 million, around 77,000 employees across 3,850 offices with assets under management worth over ₹1.5 trillion, the company said in its statement.