Wednesday, April 4, 2018
Kotak Mahindra Bank’s Ketan Patel Joins CASHe as its New CEO
Aeries Financial Technologies Pvt. Ltd., a fintech company promoted by serial entrepreneur and private equity investor V. Raman Kumar, today announced the appointment of Mr. Ketan Patel as the Executive Director and CEO of CASHe. Patel has also been appointed as the Managing Director of Bhanix Finance & Investment Ltd., the NBFC arm of the company. In his new role as CEO, Mr. Patel will focus on the company’s next level strategies that will focus on actions centered around accelerating CASHe’s organic growth momentum as well as its strategy of becoming India’s largest digital lending company to the salaried and professional millennial. He will also be focused towards driving its technology innovation, accelerate its operational excellence as well as delivering superior customer experiences.
Speaking on the appointment, Chairman of Aeries Financial Technologies, V. Raman Kumar, said: “It is my pleasure to welcome Ketan to lead the CASHe team as CEO. I am very pleased that we have been successful in attracting a talented and experienced banker who intimately understands E-commerce and fin-tech businesses in India. Our decision to appoint Ketan is a clear reflection of the company’s avowed desire to accelerate the pace of growth by attracting India’s best of breed technologists and financial and banking professionals. Ketan is a long-time career banker at Kotak with over 18 years of outstanding experience heading key portfolios ranging from retail assets, wealth management and more recently as Business Head of E-commerce and Composite Banking Solutions (CBS) at Kotak. He is a seasoned leader with a proven track record of bringing in operational excellence, accelerating innovation and achieving revenue and profitability in business. Ketan has a broad and deep banking experience across businesses and functions and has a clear understanding of the opportunities and priorities that lie ahead of us. I am happy that we will be working closely to build a hugely successful business at CASHe,” he concluded.
Speaking about his appointment as the CEO and Executive Director of CASHe, Ketan Patel said: “I look forward to leading the team at CASHe at such an exciting time. I am encouraged by the growth and potential CASHe has to offer and I am committed to building upon the excellent groundwork which has been undertaken by Raman since the launch of CASHe. My focus will be to strengthen CASHe’s growth and operational performance and making CASHe as a true leader in alternative lending for millennial in India. I look forward to working with Raman, CASHe’s senior management team and all my colleagues as we carry on with the execution of our strategic plans.”
Ketan Patel joins CASHe after an 18- year stint with Kotak Mahindra bank where he until recently held the position of a Business Head - CBS and E-commerce & Corporate Banking. In his role as Head of E-Commerce at Kotak Mahindra Bank, Ketan oversaw setting up a dedicated vertical for the fast-growing E-Commerce business out of the bank’s Corporate Banking Vertical. Throughout his successful career at Kotak and Kotak Mahindra bank, Mr. Patel led key business units including Kotak Securities, Mortgages, Kotak Wealth Management and headed its division focusing on NRI business. From 2010 until 2015, he helped setting up the Private Banking Business for the Kotak Group in the UK. Patel holds a Master’s Degree in Management Studies from Mumbai University.