Prena loves a good K-drama and is ready for an UNO cards challenge at any moment. One of the characteristics which attracted us to Welspun is that it operates at the intersection of two of our larger focus areas metals and oil & gas. However, it is not as easy as it might sound; its a big challenge and requires substantial effort. There will always be rise and fall in transaction volumes in sync with enthusiasm level and capital availability in the markets. Since both your investments are in listed companies, is Apollo Management more focused on PIPEs in India? Hes also worked at the world's largest university endowment (Harvard University) as an investor and served on the Boards of more than 20 companies across three continents. In India, we will focus on these sectors because we believe that we can add meaningful value to those and also because we believe that it makes sense here from the perspective of comparative advantage and the economics of the value chain. A risk expert through and through, Martin held senior roles at a variety of large institutions as well as some recent Fintechs. He needs to be focused on creating meaningful value and committed to continuous improvement. About Mintoo Bhandari. It actually costs so much more to modernise your technology than build it from scratch, Khouri said. Khouri compared big banks IT systems to a spaghetti of integration and said Monuments systems were more Lego-like, combining best in class cloud services. Investment Manager and Investor. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. More recently this has included Chief Architect and Strategy & Architecture Director roles at WorldRemit, a digital remittance FinTech, and Shawbrook Bank a specialist Lending & Savings provider. Fundamentally that slashes Monuments cost base, and positions the bank more as a high-touch property lender than a jack-of-all-trades current account provider. Prior to joining Monument, he was a Senior Director at Publicis Sapient, where he worked with several Tier 1 banks, start-ups, and numerous other organisations. Delivered Monday at midday. Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Chan School of Public Health. Bhandari has led deals in Avantha Holdings and the buyout of GE Capital Services and Planet cast Media services. Bhandari is a former managing director at US investment giant Apollo Global and is one of a number of high finance veterans associated with the project. Today, the company is well-positioned as one of the most cost-efficient, largest-scale, highest-quality players in the global oil & gas pipeline market. We are a UK bank built to meet the needs of a community which deserves attention and recognition. Laura holds a BA(Hons) in Public Relations from Bournemouth University. She is also the co-founder of a female charity network. But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. Aion Capital raised $825 million in 2014 and has deployed the bulk of its corpus from this fund in India. The ability to execute when others are unable or unwilling to do so is a distinguishing characteristic of Apollo and has been fundamental to the firms long-term success. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under FRN 849724. Mintoo Bhandari (pictured), the head of India for Apollo Global Management, is planning to scale back his involvement at the firm to focus on social impact investing. When it launches, Monument will go head-to-head with the likes of HSBC (HSBA.L) and Barclays (BARC.L), which have traditionally dominated the market. Download The Economic Times News App to get Daily Market Updates & Live Business News. We are also exploring and evaluating the credit markets in India. This byline is for a different person with the same name. We make better and faster decisions thanks to Anita. Bhandari said RBSs recent decision to shut its digital challenger bank Bo was a good example of how big banks lack the culture to build these things. In the Banking industry, Mintoo Bhandari has 83,692 colleagues in 4,890 companies located in 188 countries. Monument has been in development for 18 months and currently has 12 full-time staff. Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. As we are in a hyper-growth environment in India, every company can look well-positioned. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. For Bhandari, this is the second stint in Indian private equity space. What do you think of it? 27,324 executive movements have been recorded in the last 12 months. Monument therefore reflects our purpose as a new bank that will deliver strength, appreciation, and a visionary path forward. Property of Mosaic Media Ventures Pvt. 07 Feb 2018. in Electrical and Electronics Engineering and a MBA from IIT, Delhi. Prior to focusing his efforts on investing in India, Mr. Bhandari began his investing career at the Harvard Management Company (which manages the endowment of Harvard University) and was later a member of a Harvard affiliated team providing advice on privatization, enterprise restructuring and the sourcing of foreign direct investment in Russia and other emerging markets. The startup bank will target customers with a net worth of between 250,000 ($316,140) and 5m, a segment of the market its founders say is underserved. All the demands were on us as clients rather than on the bank., READ MORE: Starling Bank seeks 35m in new competition funding: 'We're a safe pair of hands'. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. Today, Dababy's reported net worth is around $7 million. Find out more, 1 Poultry, Information about a company that has been registered at this address is available to us Narindar K Bhandari, LLC. Ioannis holds a BA(Hons) in Economics from Durham University. 9 W 57 St, New York, NY 10019. With a very successful career over 35 years in banking, Niall brings a wealth of wisdom, knowledge and experience to Monument. Mr. Bhandari is also currently active in various charitable and social impact initiatives including serving as Strategic Advisor to Kailash Satyarthi (Awarded Nobel Peace Prize, 2014), and is the Chairman of the UK Kailash Satyarthi Childrens Foundation, co-founder of the Freedom Fellows Scholarship Program and former member of the Finance Committee and Council of Governors of UCL (University College London), one of the leading institutions of higher learning in the UK. It was absolutely brutal. We are fundamentally a value-oriented and often contrarian investor. Her experience spans international blue-chip companies in retail and consumer finance, and payments, including 16 years at Visa. In India, among other things, Mr. Bhandari established a strategic partnership with ICICI Bank, Indias largest non-government bank and designed a unique and pioneering fund strategy for investing in buyouts, special credits and distressed assets and led the fundraising of what became the largest PE fund in the country during the period of its launch in 2012. Generally, companies in India have very limited flexibility when it comes to designing their capital structures. We bring decades of experience working in leading financial institutions and professional services. 2 Beyonc - $3.5 million per show. And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. Nihar holds a MSc in Finance with Distinction from the University of Strathclyde and BSc in Finance from Pennsylvania State University. Mintoo graduated from MIT with a S.B. Helene is also a Trustee on the EDHEC Business Schools foundation. Your IP: He has published numerous articles and speaks frequently regarding banking, fintech, macro-economic, finance and investment topics. A key thread throughout Helenes career is growth and change supporting companies through both internal and external growth, but also coaching and mentoring entrepreneurs and professionals for personal growth and professional development. While its 22-month-old investment in Dish TV is currently at 2x, the investment in Welspun Corp has come at nearly 50 per cent premium per share. In her spare time, she finds a good evening walk boosts her energy and enjoys balcony gardening. Bhandari will also step back from his direct leadership role at Aion Capital Partners, a special situations-focused joint venture launched by Apollo and ICICI . He is helping to build a world class, plug-and-play banking platform at Monument. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. In his spare time, you might find him working on charitable initiatives or in the gym. People are saying: oh I dont know if I would do a million pound transaction on my phone. FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS Mintoo spent most of his career as an investor, building teams, and developing forward thinking institutions. As a Product Manager at Monument, Ioannis is intent on making financial institutions more than just places to store and access money. Steve holds a MA Economics from the University of Cambridge. The Economic Times, which reported the development earlier on Wednesday, said Bhandari would continue to engage with clients and attend board meetings in India though he will now be based in the UK. But that goes with Apollo's DNA, which is a value investor, making contrarian investments in high-grown markets like India, says Mintoo Bhandari, Apollo Management's Senior Partner and MD of its local affiliate AGM India Advisors. Related Story. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. In India, Mr. Bhandari was involved with several industrial, media and financial services opportunities, and also formed ARCION, an asset reconstruction company. Which is, you know, a very large sum, but this [mass affluent] community is the most creditworthy segment of the market., Bhandari says Monuments data-driven process of analysing and affirming credit quality will mean the bank has single basis point credit risk, which is almost unheard of.. He was previously a partner and Group Finance Director at Omni Partners and Amicus Finance, and interim CFO and COO at Cambridge & Counties Bank. A lifelong Liverpool fan (along with fellow Celt Iestyn) he is basking in glory (for now). Mintoo Bhandari is currently associated with Welspun Enterprises Limited appointed as Nominee Director and the paid-up capital Welspun Ente See More. He actually started his career in Tech and now hes adding the Fin. It is going to take a lot of capital, energy and effort, as well as the right regulatory environment, to build the much-needed infrastructure. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. When there is an attractive but complicated and challenging situation, we believe that Apollos investors can get compensated for that complexity as most private equity firms shy away from such situations and generally dont focus on the industries which pose such challenges. Hes interacted with almost all new UK entrants as either a regulator, advisor or investor. She joined us from London Executives Offices where she was a Deputy Manager. Historically, when you think about this group, you might think about premier banking, says Bhandari. Mintoo is a graduate of the Massachusetts Institute of Technology (Mech Eng, S.B. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. To burn off the calories Ioannis run marathons. Her positivity and energy is vital to our team and her desire to do a good job shines through. He is also Vice President for Law Society of Singapore, Member of Presidential Council for Religious Harmony and a Notary Public and Justice of the Peace. January 26 2023. Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. Fiona has a varied portfolio of Non-Executive Director roles including Melton Building Society, Nexa Finance, and VisitEngland. United Kingdom, Alternative Lending During A Downturn Report, Revolut and Atom Bank investor slashes fintech valuations, Female Invest: Meet the women taking on the gender finance gap, Gradual homeownership fintech Wayhome raises 8m Series A, Klarna positions itself as more than BNPL with suite of AI-powered tools, ClearBank appoints ex-PayPal and WorldPay exec as new CPO. He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. Before that, he worked with Harvard Management Company which manages the endowment of Harvard University. We see that come to life at work too). He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. EMEA +44 20 7330 7500. Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come, EAST PIPES INTEGRATED COMPANY FOR INDUSTRY. Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. Mintoo Bhandari, the India head of NYSE-listed alternative assets manager Apollo Global Management, is moving to a senior advisory role within the firm, a person familiar with the development told VCCircle. 87) and the Harvard Business School (MBA 92), AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. 3 Bruno Mars - $2.9 million per show. A new digital-only bank backed by City of London veterans and targeting the UKs mass affluent is set to launch within months. We believe that the blended entry price we were able to create at Welspun is very compelling and that it compares very favourably to other private equity deals done in India over the past decade. Founder of Monument Bank Ltd., Mintoo Bhandari presently is Managing Director at AGM India Advisors Pvt Ltd. Mr. Bhandari is also on the board of SOURCECORP, Inc., Apollo India Private Equity II (Mauritius) Ltd., Welspun Maxsteel Ltd. and Insight Solutions Ltd. They can raise equity and they can raise senior secured bank debt but there isnt much available in-between. He is a past Chairman of the Singapore Indian Chamber of Commerce and currently an Emeritus Chairman. In his spare time, he pretends to go (and like) boxing. Monument is targeting clients worth between 250,000 and 5m, putting it in competition against the likes of HSBC and Barclays. Potential clients include bankers, lawyers, property developers, and doctors. He left Apollo Global Management after nearly 12 years as a Senior Partner and Managing Director, working in New York, London and then successfully setting them up in India. Currently he is CIO at Bupa, and prior to that he was CIO and subsequently COO at The Co-operative Bank plc where he led a successful technology migration and was a key member of the Executive team which turned the bank around. Read more: RBS abandons Monzo-challenger B. Mintoo is currently living at 8228 Verbeck Driv, Manlius, NY 13104-9320. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration hes personally experienced. London, Prior to joining, he spent most of his career at McKinsey working with clients on strategy, revenue growth management and large digital transformations, specialising in consumer-centric organisations, and the use of data science. Sav later moved on to Relationship roles at Bank of Scotland, Lloyds and Metro Bank. He is the Honorary Consul of the Republic of Mali in Singapore. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. He has been the Chief Finance Officer of the on-line retail bank ING Direct UK and subsequently held Chief Risk Officer positions at Coventry Building Society, Tesco Bank, Kensington Mortgages and the start-up Revver bank. 5 The Rolling Stones - $2. We can democratise service thats available to the Ultra High Net Worth community and the way we can do that is because of the collapse in technology cost.. An entrepreneur and co-founder, Vikash brings a diverse range of knowledge and experience. We are also looking at different opportunities in real estate space, but are doing so in a very measured manner. People who expect their loyalty to be rewarded and seek the service they deserve. Works at Study (chess) Lives in Ludhiana, Punjab, India. In our deal flow development, we tend to be very outbound-oriented and try to stay in active dialogue with promoters in these sectors. We are grateful to Mintoo and everyone else involved in getting us to the stage of becoming a fully-licensed UK bank amidst a global pandemic and great economic uncertainty. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . Property of Mosaic Media Ventures Pvt. Mr. Bhandari was also previously a member of the private equity team, and later a manager of hedge fund capital, at the Harvard Management Company, which manages the endowment of Harvard University. Conor holds a BSc (Hons) and a postgraduate certificate in healthcare finance and is currently completing his studies at the University of Oxford in fintech.
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