Whole Time Director Nemkumar H. Appointed as MD of IIFL Securities

The Board of Directors of IIFL Securities Limited confirmed the appointment of Nemkumar H., Whole-Time Director of the Company, as the Managing Director and Key Managerial Personnel (KMP) for five years, with effect from May 15, 2024. Subject to requisite regulatory and shareholder’ approval. He replaced R. Venkataraman, whose tenure expires on May 14, 2024, and he has decided not to seek renewal of his term as Managing Director. Mr. Venkataraman shall continue as the Chairman and Non-Executive Director on the Board of the Company.

The Board reappointed Narendra Jain as a Whole-Time Director and KMP of the Company, subject to requisite regulatory and shareholders’ approval for a period of five years w.e.f. May 13, 2024.

Nemkumar H. is a rank-holder Chartered Accountant from the Institute of Chartered Accountants of India (ICAI). A founder member of IIFL’s Institutional Equities team, he joined IIFL in 2007 to scale up the Institutional Broking and Investment Banking business. Under his leadership, the institutional equity business has scaled up well, and IIFL Securities is now among the leading firms in the segment. Prior to joining IIFL, Nemkumar spent nearly 10 years at CLSA as an equity analyst covering the Asia Oil and Gas sectors and as Head of India Research and Head of India Office. He started his career at BPCL and worked there for 8 years in the corporate treasury and pricing departments.