Sud will lead the group's financial services businesses and will also be on the board of Airtel Payments Bank.
Bharti Enterprises has appointed former Max Life Insurance CEO Rajesh Sud as Managing Director for the financial services business. Sud will report to Sunil Bharti Mittal, founder and Chairman, Bharti Enterprises.
Sud takes over from Soumen Ghosh, who helped the insurance businesses reach double-digit premium growth. In his new role, Sud will lead the group's financial services businesses (Bharti AXA General Insurance and Bharti AXA Life Insurance) and will also be on the Board of Airtel Payments Bank.
Bharti AXA Life posted a 24.63 percent year-on-year (YoY) in its new business premium in FY19 at Rs 910.67 crore. Bharti AXA General Insurance collected premium of Rs 2,258.87 crore, up 28.81 percent YoY.
In addition, he will guide the group's current and future interests in the financial services businesses.
Prior to joining Bharti, Rajesh Sud was the Executive Vice Chairman and Managing Director at Max Life Insurance. He brings over 25 years of experience in the Indian banking and life insurance industry. Sud had resigned from Max Life in September 2018.
In the past Rajesh also worked as the Managing Director & CEO of Esanda Finance India, a subsidiary company of ANZ Grindlays Bank and was the Head of Asset Finance at ANZ Grindlays Bank. He had started his career at Bank of America and was a key member of the team that created a very successful consumer banking franchise in India.He was also an integral part of the team that transited that business to ABN Amro Bank, upon its sale in 1999.A postgraduate in marketing and finance from Faculty of Management Studies, Delhi University, Sud completed the Advanced Management Programme from Wharton Business School, University of Pennsylvania, Philadelphia, USA.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.