15th June 2015: IDFC Ltd., India’s leading Infrastructure Finance Company, today announced the appointment of Ajay Mahajan as their Head Commercial and Wholesale Banking in the bank structure to be launched later this year. In this role Mr Mahajan will oversee coverage of SME, Mid Cap and Large Corporates, Financial Institutions, Government Business and Transaction Banking, Treasury and Markets and Investment Banking.
Mr Mahajan has over 23 years of experience in the banking industry across the spectrum of domestic and foreign banks in India. He started his career with Bank of America in 1990, where he last served as Managing Director and Country Treasurer responsible for all financial markets, balance sheet management and capital markets businesses. After 14 years with Bank of America, he joined the founding team of Yes Bank, serving as Group President of Financial Markets, Institutions and Investment Management. In 2008, Mr. Mahajan joined UBS to build their banking franchise in India when they got licensed by RBI to commence banking operations in India. He has a Master’s in Business Administration from Faculty of Management Studies and has B.E. (Hons) in Electrical and Electronics engineering from BITS Pilani and CFA from the CFA Institute, USA.
Mr. Mahajan has been heading the Financial Markets Group at IDFC.
About IDFC Ltd.
IDFC was established in 1997 as a private sector enterprise by a consortium of public and private investors. Its expertise in the infrastructure sector and strong relationships with government and infrastructure sponsors provides it with a platform for facilitating private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulation are evolving.
The mission is to be the financier and advisor of choice for infrastructure projects in India. IDFC is focused on enhancing shareholder value through pursuing strategies that enhance its profitability, return on assets and return on equity.
IDFC has been granted an in principle approval by Reserve Bank to begin banking operations.