Edelweiss ARC appoints Mythili Balasubramanian as interim MD & CEO

Edelweiss ARC appoints Mythili Balasubramanian as interim MD & CEO

Edelweiss Asset Reconstruction Company (EARC) has appointed Mythili Balasubramanian as the Interim Managing Director and Chief Executive Officer, effective immediately, till September 30.

Balasubramanian is a part of EARC for almost 5 years and has over four decades of experience in banking, NPA resolution, and the Insolvency and Bankruptcy Code (IBC) processes.

The Board of Directors has constituted a Search Committee to oversee the identification and selection process for the next MD & CEO, the company said in a statement.

The Search Committee has appointed Korn Ferry, a globally renowned executive search firm, as its search partner to ensure a comprehensive and high-calibre selection process.

The statement further said that the company is committed to conducting a structured and transparent selection process and will keep stakeholders informed on the progress.

The Company is focused on strengthening its service-based income portfolio, including platform-driven deals, fee-based income, and proactively collaborating with banks and financial institutions
for the acquisition of stressed assets.

With its strong foundation, dynamic leadership, and commitment to innovation, the company is poised for sustained growth in the evolving distressed asset segment, the statement further read.