Aarti Nihalani Appointed As COO Of Mahindra & Mahindra Financial Services; Padmaja Chunduru As Independent Director
Aarti Nihalani has been appointed as Chief Operating Officer and Senior Management Personnel (COO & SMP) of Mahindra & Mahindra Financial Services Limited, effective December 1, 2025.
Padmaja Chunduru has been appointed as Non-Executive Independent Director (Additional Director) of the company, effective November 10, 2025, subject to the approval of the shareholders to be obtained within three months from the date of appointment.
Nihalani is a Partner for Financial Services at Oliver Wyman, India, with 16 years of consulting experience across financial services and other industries. Since joining Oliver Wyman in 2009, she has led strategic transformation projects across major public and private sector banks, global banks, NBFCs, asset managers, and insurance and wealth management firms. She was honoured with the IIM Ahmedabad Young Alumni Achiever Award for Corporate Leadership in 2024 and has served as an advisor on SEBI committees. Nihalani holds a postgraduate diploma in management from IIM Ahmedabad and a bachelor’s in chemical engineering from the Institute of Chemical Technology (UDCT), Mumbai.
Chunduru is a senior financial services leader with over 37 years of experience in banking and capital markets across India and the USA. She has served as Chief Executive Officer and Managing Director (CEO & MD) of NSDL and Indian Bank and as Deputy MD of the State Bank of India (SBI), where she led digital banking and served as Country Head for SBI’s U.S. operations. She is an Independent Director on the Boards of Bajaj Life and General Insurance, Atul Ltd., Brigade Enterprises, CCIL, SBI Ventures, Sify Technologies, and Sify Infinit Spaces. A member of IRDAI’s Insurance Advisory Committee and IIM Bangalore’s CCGS Advisory Council, she has been recognised as one of the Most Powerful Women in Business by Fortune India and Business Today in 2022 and 2023.




