Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. Dominique studied Business Administration at BCHE, Brunel University specialising in Economics and International Finance. For Bhandari, this is the second stint in Indian private equity space. In the Banking industry, Mintoo Bhandari has 83,692 colleagues in 4,890 companies located in 188 countries. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. During his career he has worked as a C++ developer / DBA and Sys Admin, so brings this experience to his current role. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. As we are in a hyper-growth environment in India, every company can look well-positioned. UK challenger Monument lands restricted banking licence Summary. Digital bank for 'mass affluent' set to launch later this year Vikash is involved in several philanthropic projects, including a previous Board membership of Spirit of 2012, a not-for-profit organisation set up to keep the spirit of the London 2012 Olympic Games alive. Investment Manager and Investor. Our lending and membership products are not included within the scope of this regulation; for more information, please see the Financial Services Register. Mintoo Bhandari - Founder of Monument Bank Limited - Monument | LinkedIn Find out more, 1 Poultry, He was also the Chair of the Risk Committee for Chetwood Financial and helped Equifax go through the FCA Authorisation process following changes in the UK consumer credit regulations. We had heard it from numerous industry participants and we also verified it from some of Welspuns customers that the company produces superior quality pipes. The project has drawn funding from City of London veterans including former Panmure Gordon chief executive Ian Axe and London property developer Chris Murray. 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. Mintoo Bhandari - VC DATALAB Mintoo Bhandari Founder & Managing Director. Apollo Global's Mintoo Bhandari takes on advisory role, to move to UK He led, developed and oversaw . Apollo India Private Equity II (Mauritius) Ltd. More recently, Anita has been focused on supporting digital start-up banks develop and execute their corporate strategy. Having created HSBC Premier in the UK over 20 years ago, Steve readily identifies with and understands our community well and he is obsessed with serving it in the right way. Prologue, partie 2 : les progrs accomplis dans la ralisation de l'ODD 6 She was on the Board of SEEDA with responsibility for Business and Tourism as well as being a founder member of the Kent Tourism Alliance, Chair of KM Radio, and one of the Trustees behind the building of the Turner Contemporary Art Gallery in Margate. A new digital-only bank backed by City of London veterans and targeting the UKs mass affluent is set to launch within months. Instead the mass affluent sit just above the DIY retail market and might need extra service and support to deal with their increasingly complex financial lives. 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.. Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. iOS Lead with over 10 years of experience in software development. Sav later moved on to Relationship roles at Bank of Scotland, Lloyds and Metro Bank. Information about a company that has been registered at this address is available to us Narindar K Bhandari, LLC. In our deal flow development, we tend to be very outbound-oriented and try to stay in active dialogue with promoters in these sectors. 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. In her spare time, she finds a good evening walk boosts her energy and enjoys balcony gardening. Americas +1 212 318 2000. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration hes personally experienced. For nearly three decades, Anita has played a crucial role in driving organisational performance at some of the UKs leading financial services institutions. Rand takes the reins from Mintoo Bhandari, current CEO and co-founder, who has led Monument from its inception to the achievement of full banking licence and commercial launch late last year.. Mintoo Bhandari - Senior Partner for Apollo Global Management, LLC Digital bank for 'mass affluent' set to launch later this year Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. 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. In his spare time, he is either watching sports or playing Golf. As an academic, Andrews working and non-working time tend to merge. But really, its just burning calories before dinner. And the one thing that India sorely needs to sustain its growth and become more competitive is improved infrastructure. And we are indeed fortunate Much of what Bhandari describes is unproven, and hes frank that the banks plans will certainly change and evolve as it comes to market. The action you just performed triggered the security solution. For a year or so before the investment, we were interacting actively interacting with BK Goenka. If hes not training for his next race he is probably talking about it. 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. And we would like to see a minimum of 1 per cent of that amount or roughly $150 million, deployed in every transaction. Niall was educated at Glenalmond College and at Gonville and Caius College, Cambridge. In India, most companies of any scale are already publicly traded. Digital bank for 'mass affluent' set to launch later this year But Bhandari is not worried. Conor is all about tailored lending solutions for you. Market swings in the USA directly impact the Indian markets and just like the USA, the velocity of transactions diminishes when there is volatility and downward pressure in the Indian markets. Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. He also has a passion for gardening, although thats not always clear looking at his garden. With a career stemming from hospitality (including hotels and serviced offices), she brings a lot of experience in providing excellent service to the team and our visitors. But, for now, the ambitious founder is outlining a retail digital banking model quite unlike whats come before. Mintoo Bhandari Active New York, NY Senior Partner for Apollo Global Management, LLC (212)515-3200 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. He is the Honorary Consul of the Republic of Mali in Singapore. To burn off the calories Ioannis run marathons. In her banking career, Fiona worked for Barclays, Daiwa Europe Bank, NatWest Capital Markets and most recently, Goldman Sachs. PDF Monument appoints Ian Rand as CEO 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. The bank takes its name from the Monument to the Great Fire of London in London, which is colloquially known as simply Monument. And if not, you will find him in the theatre with a glass of wine. London, Apollo never does hostile takeovers; we only do friendly deals. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. (212) 515-3200. Mintoo Bhandari - Senior Partner & Managing Director @ Apollo 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. Helene is also a Trustee on the EDHEC Business Schools foundation. In India, Apollo Is A Contrarian Investor: Mintoo Bhandari He is also the Chair at Which? Mintoo Bhandari. With 30 years in Financial Services, Steve has seen it all. Excerpts: What attracted you to invest in Welspun? It was absolutely brutal. Companies, with as little as a few million dollars in EBITDA, can go public. For his contributions to Society and to the business community, he was bestowed the PBM (Pingat Bakti Masyarakat The Public Service Medal) by the President of the Republic of Singapore in 2009. Learn more about Banking. Manta Bhandari. The Monument in central London is a commemoration of the end of the Great Fire of London and the beginning of the worlds first modern city. Ioannis began his career as a private banker at Coutts & Co. where he looked after high net worth individuals and families from the United Kingdom and abroad. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. Age : 57. Fiona has a varied portfolio of Non-Executive Director roles including Melton Building Society, Nexa Finance, and VisitEngland. Since both your investments are in listed companies, is Apollo Management more focused on PIPEs in India? Instead, the plan is to connect to a customers existing current account, whether with a high street bank or digital challenger, all via the wonders of open banking. 2 Beyonc - $3.5 million per show. Close to home, our portfolio companies may not deliver on their potential if the infrastructure does not improve. Monument has raised 10m in seed funding so far. Mintoo Bhandari is currently associated with Welspun Enterprises Limited appointed as Nominee Director and the paid-up capital Welspun Ente See More. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration he's personally experienced. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . In his spare time, he is on the PlayStation with his son or practicing Karate together. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. When it launches in the Summer of 2021, the bank will provide savings . In his own words: I can just keep going. He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. 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. Many of them have three, four, five, or six properties, and they almost become professional landlords on the side, says Bhandari. Enter Mintoo Bhandari, the founder and managing director of Monument, a newly-licenced and freshly-funded digital bank aimed at lending millions to the "mass affluent" at the touch of a button, all through their mobiles. He is helping to build a world class, plug-and-play banking platform at Monument. Do you think backing holding companies or a 2-3 promoter group company is a more interesting proposition for larger funds? Read more: RBS abandons Monzo-challenger B. He is currently working on how to improve human judgement in public and private life. Mintoo Bhandari | Director Profile | The Company Check Now, people are saying: actually I would really love that., Senior City Correspondent, Yahoo Finance UK, RBSs recent decision to shut its digital challenger bank Bo, Analysis-Japan's automakers have a made-in-China sales crisis, RPT-GLOBAL MARKETS-Stocks stuck, Aussie dlr surges after RBA surprise, Australian landlords push back on property valuation doomsday, Australia Signals More Tightening After Surprise Rate Hike, Most Japanese shares retreat on banking jitters ahead of Golden Week break. We think there will be significant benefits to companies if the market has a wide variety of options. The 25 per cent threshold seems much more rational. He was the CRO at HSBC for the retail bank in Europe and latterly for Latin America and held similar roles at Mark & Spencer Money, MBNA, and Standard Chartered Bank. He lives in London, England with his wife and two daughters. Sure, Lil Wayne is way behind Taylor Swift and Beyonc. 87) and the Harvard Business School (MBA 92). The colleagues of Mintoo Bhandari. 3 Bruno Mars - $2.9 million per show. There will always be rise and fall in transaction volumes in sync with enthusiasm level and capital availability in the markets. The difficult terrains and environments that these pipelines must traverse and the pressures they have to withstand create a very high technical bar that puts a premium on technical excellence. He was the Vice-Chairman of the Singapore Business Federation, and Council Member of ASEAN Chamber of Commerce and Industry. Sav started his career at the Bank of Cyprus as a Graduate Trainee where he learnt the fundamentals of good lending and customer first relationship management. Aion Capital raised $825 million in 2014 and has deployed the bulk of its corpus from this fund in India. She holds a degree in Science in Planning and Urban Design from the University of Naples Federico II. Click to reveal A risk expert through and through, Martin held senior roles at a variety of large institutions as well as some recent Fintechs. What do you think of the Indian PE market, compared to the Chinese markets? In the past Mr. Bhandari was Director & Global Head-Corporate . Prerna joined Monument's mobile team as an Android Developer focused on delivering innovative product features. Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. Prologo, parte 2: progressi verso l'Obiettivo di sviluppo sostenibile 6 In her spare time, Helene seeks new experiences and is an arts & art de vivre lover. 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 . FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS. He brings with him over 30 years of technology experience across a wide range of financial services organisations. It actually costs so much more to modernise your technology than build it from scratch, Khouri said. One of the most novel things about Monuments strategy is that the bank doesnt intend to offer its customers a bank card, or indeed a current account at all. In his spare time, hes watching football and hasnt missed a Wales game in 8 years. We believe that the blended entry price we were able to create at Welspun is very compelling and it compares very favourably to other private equity deals done in India over the last decade, he explains. In India, Mr. Bhandari was involved with several industrial, media and financial services opportunities, and also formed ARCION, an asset reconstruction company. Related Story. A strong advocate of a fairer financial services market, she sits on the Customer Advisory Board of Fairer Finance. Steve brings 30+ years of technology management experience to our Board. Bhandari had initially worked with the Indian government, especially the Ministry of Finance, as part of a Harvard group advising the government during the liberalisation. She is also the co-founder of a female charity network. He was previously a partner and Group Finance Director at Omni Partners and Amicus Finance, and interim CFO and COO at Cambridge & Counties Bank. Monument is targeting clients worth between 250,000 and 5m, putting it in competition against the likes of HSBC and Barclays. As a regulator (FSA and then PRA/FCA), he managed the Change in Control team and was responsible for approving several high-profile new bank entrants, after which he was hired to grow PwCs bank start-up team, making it a market leading practice. Today, Dababy's reported net worth is around $7 million. 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. And who said fintech is becoming boring? How did the transaction come about? Another thing we considered was that Welspun is very well known for its customer service. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. 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'. But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. This is unfortunate because there are many companies that should not be listed and that would make a greater contribution to the economy if they were operated as private companies. Iestyn also supports the worlds greatest rugby nation, which for those outside Wales, is Wales. Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. But an investment firm considering these markets has to develop a carefully tailored strategy for each market, as they are very different. He is the CEO and co-Founder of VAR Capital, a multi-family office focused on investment management and lending. First of all, Bhandari is keen to distinguish precisely who Monument Bank is talking about when it refers to the mass affluent. Apollo's Mintoo Bhandari to step back from India leadership 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. Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. But some regulatory changes are required to make this happen. Multiple digital-first, app-only banks have launched in the UK in recent years but most have targeted ordinary current account holders or businesses. But it isnt always easy, for organisational or other reasons, to pull the trigger when markets are choppy. In his spare time, Ioannis loves discovering new restaurants to visit with friends and will always try the latest food fad. I would say that PE investment, in general, is somewhat cyclical. Feike is a Dutchman who has lived and worked in the UK for 14 years. Mintoo Bhandari Chief Executive Officer Monument Bank Limited Bank CEO announces that Monument achieves full banking licence. Mintoo Bhandari - India Research Center Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey.
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