He has been with the company for the past 38 years, will be succeeded by Rajiv Lochan
T E Narasimhan |
Last Updated at January 20, 2021 15:26 IST
T T Srinivasaraghavan, Managing Director of Sundaram Finance to step down in March. He is retiring from service after 38 years with the company, the last 18 years as Managing Director. Rajiv Lochan will succeed him.
Under Srinivasaraghavan’s near two-decade tenure as Managing Director, the company has grown its balance sheet from under Rs 800 crore to over Rs 30,000 crore today.
Over the past two decades, Srinivasaraghavan also led the diversification of the group from its traditional focus on medium and heavy commercial vehicles to a multi-product diversified financial services provider.
S Viji, Chairman, Sundaram Finance said “under his leadership the company has demonstrated its traditional focus on asset quality, and most importantly its adherence to “Sundaram Values” of prudence and customer focus. The company and its shareholders owe a debt of gratitude for his service.”
Srinivasaraghavan added “it has been a great privilege and honour to lead this outstanding group of people who make up Team Sundaram, over all these years. Our enduring commitment to the Sundaram Values will ensure that Sundaram Finance scales greater heights under the new leadership team”.
As a result of Srinivasaraghavan’s retirement, the company at its board meeting, announced the following changes to the management team on 1 April 2021.
Harsha Viji, Deputy Managing Director, will assume the office of Executive Vice Chairman, and take responsibility for the overall strategy and direction of Sundaram Finance Ltd., and other group companies in financial services
Rajiv Lochan, Director (Strategy) of the company, will assume the role of Managing Director of Sundaram Finance Ltd. Rajiv brings a rich experience of 25 years, in financial services, then as a partner in the consulting firm McKinsey & Company, and most recently, as Managing Director of Kasturi & Sons.
A.N. Raju, Director (Operations), will assume the role of Deputy Managing Director of Sundaram Finance Ltd.
Srinivasaraghavan will remain on the board and play a mentorship role.
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