IDFC appoints new chief risk officer

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IDFC appoints new chief risk officer

Indian infrastructure lender IDFC Ltd has appointed Pavan Pal Kaushal as its chief risk officer, the company said on Friday.

IDFC was recently granted a commercial banking licence. The company will start its banking operations in October 2015. Kaushal, with over 30 years of experience in the financial services sector, is expected to bring in the banking expertise.

Before joining IDFC, he was heading the Financial Services Risk Practice in Ernst & Young. He has also served as chief risk officer for ANZ Banking Group Ltd in India.

According to sources, after getting the banking license, Rajiv Lall, executive chairman of IDFC had said the company plans to hire at least 10-15 more people at the senior management level.

Rajiv Lall, executive chairman, IDFC said:

"Pavan brings with him an in-depth understanding of the unique organizational challenges and the risk management framework. He has managed large teams across geographies from diversified work cultures and has been instrumental in setting up risk and credit policy functions in the banks he has worked for."

Avtar Monga, formerly with Bank of America-Merill Lynch, will head operations and technology. Ajay Mahajan, formerly with Yes Bank Ltd, will be leading the markets and institutional banking team.

IDFC is an integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. The company also offers asset management services through IDFC Mutual Fund.

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