HDFC Bank’s Arvind Kapil to Lead Poonawalla Fincorp as MD & CEO

According to an announcement released by the NBFC Poonawalla Fincorp, Arvind Kapil, the Head of Mortgage Portfolio of HDFC Bank, will join the company as Managing Director (MD) and Chief Executive Officer (CEO) for five years with effect from June 24, 2024. He is set to succeed Abhay Bhutada, the current MD and CEO of Poonawalla Fincorp, who has been leading the company since its acquisition in May 2021. Bhutada was promoted to the group level and will now oversee strategy, investments, and finance at the Cyrus Poonawalla Group. While assuming this new role, he will remain a Non-Executive Director on the Poonawalla Fincorp board of directors.

Arvind Kapil serves as HDFC Bank’s Group Head, overseeing the mortgage banking business with a book size of 7.5 lakh crore. He is responsible for managing the entire Home Loans portfolio, Loan Against Property (LAP), and HDFC Sales Private Limited. With an illustrious tenure spanning over 25 years, he has been a trailblazer in harnessing digital solutions to revolutionise the customer experience. He has introduced the industry-leading 10-second personal loan, as well as digital loans against securities, digital loans against mutual funds, and digital auto loans. His educational background includes an Advanced Management Programme from Harvard Business School; a Master’s Programme in Management of Global Enterprises jointly from IIM Bangalore, UCLA Anderson, SDA Bocconi, and City University; a Masters in Management Studies from Bharati Vidyapeeth Institute of Management Studies and Research; and a Bachelor of Engineering (B.E.) from K. J. Somaiya College of Engineering, Mumbai.