People who expect their loyalty to be rewarded and seek the service they deserve. 161.97.131.216 Age : 57. Andrew has won the Sunday Times award for Non-Executive Director of the Year in the public/not for profit sector. Another entrepreneur in residence. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. He led, developed and oversaw . Her positivity and energy is vital to our team and her desire to do a good job shines through. Welspuns principal business is the manufacture of large-diameter oil & gas pipes, used to build pipelines for transporting oil & gas, generally over long distances. To be a successful investor in India, we believe that you have to have both a good promoter and a fundamentally good business. 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.. Typically, Apollo will look to invest anywhere between $150 million and $1 billion out of this current global fund. ( Originally published on Feb 07, 2018 ), Care Hospitals Buyout: Max Healthcare Sues TPG, GST Collections Hit Monthly High of 1.87 L cr in April, Brookfield Picks up 51% in Realty JV with Bharti, Apollo Management India head Mintoo Bhandari moves to advisory role, to focus on philanthropy, Terms of Use & Grievance Redressal Policy. Passionate about customer service, in-app experiences, and creative content that drives engagement, Laura seeks to nurture the best matched brand relationships for Member Services. London, Learn more about Banking. 5 The Rolling Stones - $2. But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. Prior to joining Monument, Laura honed her skills and experience in the app space at Velocity Black, working closely with the founders to grow and enhance the customer experience, while also building out the companys Luxury Goods division. What do you think of the Indian PE market, compared to the Chinese markets? For Bhandari, this is the second stint in Indian private equity space. 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. But, in the grand scheme of things, he is one of the highest-paid rappers of all time per show. About Mintoo Bhandari. Hes also held roles at Booz & Company and at Sapient as a technologist. Mr. Bhandari is a graduate with distinction of the Massachusetts Institute of Technology (Mech Eng, S.B. The 25 per cent threshold seems much more rational. 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. 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. He led, developed and oversaw the development of AION, a market-leading credit-focused fund on behalf of Apollo Global Management and its banking partner ICICI. Monument is chaired by Niall Booker, a veteran HSBC banker who rescued The Co-Op Bank from the brink of collapse in 2013 after being drafted in as chief executive. EMEA +44 20 7330 7500. The firm has appointed Mintoo Bhandari to head the India operations, who was till now a partner at the UK unit of Apollo Management. Dominique studied Business Administration at BCHE, Brunel University specialising in Economics and International Finance. Summary. The 15 per cent threshold was rather low and I think it had artificially created a differential between investor intent and regulatory burden. In his spare time, you would find him in a photography gallery or a museum with his camera on his shoulder or developing his analogue films at home. Part of his vision is to improve margins further and he believes that one way to accomplish this is through backward integration, which will lead to greater stability of supply, greater control over quality, better margins and ultimately, as we hope, a more dominant position in the global market. Mintoo also has significant experience in customer service and outsourcing industries as a Board Member of Integreon and SourceCorp, among others, and gained exposure to the large-scale consumer service delivery as a Board Member of DishTV India. And the one thing that India sorely needs to sustain its growth and become more competitive is improved infrastructure. Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. Apollo never does hostile takeovers; we only do friendly deals. Promoters must also be willing to transact in choppy markets. Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. Prerna joined Monument's mobile team as an Android Developer focused on delivering innovative product features. But given the regulatory process and the hurdles today, it is very complicated and somewhat impractical to take a company private in partnership with a promoter group. Created Date: 20211108104240Z . Sure, Lil Wayne is way behind Taylor Swift and Beyonc. 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. Apollo India Private Equity II (Mauritius) Ltd. He is the CEO and co-Founder of VAR Capital, a multi-family office focused on investment management and lending. Download The Economic Times News App to get Daily Market Updates & Live Business News. On the business side, we are looking for businesses that have genuine, sustainable advantages and that we are confident are well-positioned for the long run. I would say that PE investment, in general, is somewhat cyclical. With his ability to learn quickly and being a productive and strong team player, he joined Monument to help to build and deliver the next unique experience. At its basics, its banking. Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. 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'. In his spare time, he is on the PlayStation with his son or practicing Karate together. Apollo Management's real estate investment arm, Apollo Real Estate Advisors, currently runs a $650 million real estate private equity fund in . Delivered Monday at midday. 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. Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] Financial Services. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . I think the evolution of digital has gone from a 5 or 10 year cycle to a three month cycle, he 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. Cloudflare Ray ID: 7c0e749e1df7382b Initially Monument will focus on lending, with Bhandari outlining ambitious goals, including 8-minute approvals on buy-to-let mortgages of up to 2m. As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work. Alex is our Chief Architect. 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. Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. She has acquired a strong commercial outlook from senior roles in Strategy, Pricing and Acquisitions & Partnerships. At that time, he was looking for capital and support to undertake a backward integration related to his principal business. With over 20 years of experience, Graham has worked as Operations Manager at Thomson Reuters and Alibaba and brings his wealth of experience to Monument. All rights reserved. The need for technical excellence and reliability was highlighted during the BP oil spill. United Kingdom, Alternative Lending During A Downturn Report, Monument launches market-leading 5-year 2.2% savings rate (if youre wealthy enough), Monument co-founder hands over CEO role to ex-Barclays boss "to scale the bank", New neobank Monument readies for launch after regulator lifts restrictions, Monument Bank founder: Mass affluent banking is our path to profitability in 24 months, New digital bank for the rich Monument secures restricted UK banking licence. He is really excited about his role at Monument helping to build and scale a truly modern, digitally enabled bank for our clients. Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. 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. The acquisition of one of the largest credit operations in India, GE Capital India, through the AION fund and then rebranded Clix Capital. Welspun has produced pipes for some of the most challenging projects in different parts of the world, including pipes for the worlds deepest pipeline project (Independence Trail, Gulf of Mexico), the highest pipeline (Peru LNG) and the heaviest pipeline (Persian Gulf). Iestyn also supports the worlds greatest rugby nation, which for those outside Wales, is Wales. He actually started his career in Tech and now hes adding the Fin. Having started his career at Lloyds, he joined us from Target Group, where he held CFO and interim CEO positions. Feike studied Economics and post-graduate Accountancy at the Vrije Universiteit in Amsterdam and he holds a Master of Business Administration degree from Rochester University, New York. But, for now, the ambitious founder is outlining a retail digital banking model quite unlike whats come before. So, at times, the hardest work is to verify that a company is well-positioned in reality and that it is not just the rising tide that is colouring our perception. She brings a decade of work experience in software product development, application maintenance & support, debugging, troubleshooting, and project execution and believes in continuously applying the best business practices, through innovative technology solutions. Historically, when you think about this group, you might think about premier banking, says Bhandari. 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. "I actually experienced the pain. In his spare time, you will normally find Ian falling off a mountain bike, or a paddle board; or trying to persuade 4 teenagers of the merits of a long family hike on the South Downs. Globally, Apollo is also very active in credit markets and real estate. People are saying: oh I dont know if I would do a million pound transaction on my phone. End-of-year reflections and outlook for the new year: How 2020 changed fintech, Timing is everything: launching a bank amid COVID-19. But it isnt always easy, for organisational or other reasons, to pull the trigger when markets are choppy. He lives in London, England with his wife and two daughters. During his career he has worked as a C++ developer / DBA and Sys Admin, so brings this experience to his current role. To burn off the calories Ioannis run marathons. In many such cases, it would be in the best interest of the public shareholders to offer them a fair and clean exit. Before joining Monument, Conor headed up the specialist lending team in London at Arbuthnot & Co and has also held leadership and relationship roles at Metro, AIB, Santander and RBS. Were here for our clients and the level of service they deserve. Ltd. Get daily update with our newsletter Subscribe Now ! Information about a company that has been registered at this address is available to us Narindar K Bhandari, LLC. Aion Capital raised $825 million in 2014 and has deployed the bulk of its corpus from this fund in India. Helene is also a Trustee on the EDHEC Business Schools foundation. Mintoo Bhandari, director with WELSPUN ENTERPRISES LIMITED, is registered with the Ministry of Corporate Affairs (MCA), bearing DIN 00054831. 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. 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. But after a glass of whisky, the fun begins and the guitar is out. iOS Lead with over 10 years of experience in software development. If I can summarise what excites us about Welspun, it is the unique combination of positioning and potential. Close to home, our portfolio companies may not deliver on their potential if the infrastructure does not improve. The action you just performed triggered the security solution. 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. A strong advocate of a fairer financial services market, she sits on the Customer Advisory Board of Fairer Finance. What do you think of it? The . In fact, some customers referred to Welspuns pipes as the gold standard in the industry. There are further proofs of the companys superior technical skills and capabilities. One of the elements that we look for is the quality and depth of management, which Welspun has in abundance. She also runs her own business and property development company. 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. We are also exploring and evaluating the credit markets in India. He has a big vision and great personal drive to achieve a tremendous amount. Prior to joining Apollo in 2006, Bhandari was managing director at The View Group. (212) 515-3200. Before joining Apollo in 2006, he had . Companies, with as little as a few million dollars in EBITDA, can go public. He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. Since lockdown Sav has become a keen runner and has also developed a mild obsession with his daily step count. 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. Buy-to-let and bridge-to-let are core products that Monument will launch with, designed to appeal to the banks wealthy target audience. Monument is targeting clients worth between 250,000 and 5m, putting it in competition against the likes of HSBC and Barclays. 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He was the CEO who led the turnaround of The Co-operative Bank and prior to that was Group Managing Director at HSBC and CEO of HSBC North America. There will always be rise and fall in transaction volumes in sync with enthusiasm level and capital availability in the markets. We are a UK bank built to meet the needs of a community which deserves attention and recognition. A risk expert through and through, Martin held senior roles at a variety of large institutions as well as some recent Fintechs. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management (APO NYSE). In his spare time, he is with his young family or serving as Trustee of the European School of Osteopathy. Excerpts: What attracted you to invest in Welspun? Less classical is how Monument will operate, by harnessing the growing power of open banking. The reality is that investors are not looking to take over a company just because they would like to hold more than 15 per cent of its equity. Market regulator SEBI has recently come out with changes to the takeover code, increasing the open offer limit to 25 per cent. Before joining us, Ioannis headed up the innovation efforts for NatWests wealth management businesses, which include the Coutts & Co. and NatWest Premier brands. Wasim is obsessed with two things: a client-first approach and use of modern technology to deliver our strategy. In her spare time, Laura enjoys exercising, spending time with her dog Peaches, and, when she isnt cooking - going out to her favourite restaurants with friends. He was previously a partner and Group Finance Director at Omni Partners and Amicus Finance, and interim CFO and COO at Cambridge & Counties Bank. To be active under these conditions, investment firms have to be fundamentals-driven and contrarian. Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. 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. But really, its just burning calories before dinner. All we're doing is saying, come to us for service, come to us for better deposit rates, come to us for complex lending.. He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. Ian has worked in finance for over 20 years, most recently leading Business Banking at Barclays, and during his career has developed 2 passions for clients, and the technology that helps them fulfil their ambitions. The jewel that holds us all together, Federica does so much more than manage our office and all its interactions, both internal and external. We see that come to life at work too). 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. Technical excellence was a key area when we assessed the company. 3 Bruno Mars - $2.9 million per show. First of all, Bhandari is keen to distinguish precisely who Monument Bank is talking about when it refers to the mass affluent. London, Property of Mosaic Media Ventures Pvt. Prena loves a good K-drama and is ready for an UNO cards challenge at any moment. But an investment firm considering these markets has to develop a carefully tailored strategy for each market, as they are very different. For nearly three decades, Anita has played a crucial role in driving organisational performance at some of the UKs leading financial services institutions. Asia Pacific +65 6212 1000. Monument Bank Limited (10921940) is registered in England at 33 Cavendish Square, London, W1G 0PW. Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. 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. 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. In his spare time, Ioannis loves discovering new restaurants to visit with friends and will always try the latest food fad. But stay where you are for your current account. Mintoo Bhandari is a Senior Partner & Managing Director at Apollo Global Management LLC. Fintech and alternative finance headlines with an exclusive Editor's Note each week. Customers can also track their net worth and source advice on things like property law and inheritance. We think its a very positive, prudent move. We think there will be significant benefits to companies if the market has a wide variety of options. In his spare time, you might find him working on charitable initiatives or in the gym. If hes not training for his next race he is probably talking about it. In India, most companies of any scale are already publicly traded. Sav is a Dad to two football mad boys; most of his spare time is spent taking them to football training, futsal training and football matches. 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. Organizzazioni che hanno offerto il loro contributo Agenzia internazionale per l'energia atomica (AIEA), Alliance for Global Water Adaptation (AGWA), AquaFed, Armenian Women for Health and Healthy Environment, Associazione internazionale degli idrogeologi (IAH), Associazione internazionale per l'ingegneria e la ricerca idroambientale (IAHR . 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. Related Story. And if not, you will find him in the theatre with a glass of wine. But in your hands, it can become so much more. Mr. Bhandari is the principal founder and a leading shareholder of London based Monument Bank Limited (Monument) which is a digital-first platform focused on providing financial services (with a Bank of England full-banking license) providing digital access to high-value services and technology solutions in various geographies around the world. Monument has raised 10m in seed funding so far. Prior to founding Monument, Mr. Bhandari was, until early 2018, Senior Partner of Apollo Global Management (NYSE APO) and Senior Partner & Managing Director of Apollos India vehicles: AGM India Advisors Pvt Ltd and AION Capital Partners. Your IP: He is helping to build a world class, plug-and-play banking platform at Monument. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration he's personally experienced. These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. 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. His past non-executive directorships include the Bank of England and Barclays plc and he is currently the senior national independent director of Times Newspapers Holdings Ltd and a director of quoted insurance Lloyds underwriter Beazley plc. Monument has been in development for 18 months and currently has 12 full-time staff. He also has a passion for gardening, although thats not always clear looking at his garden. In his spare time, he is either watching sports or playing Golf. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. She joined us from London Executives Offices where she was a Deputy Manager. In an exclusive interview with VCCircle, Bhandari speaks about the Welspun investment, Apollos India strategy, his take on the changes in SEBI takeover code and delisting norms, and the countrys credit and real estate market. When it launches in the Summer of 2021, the bank will provide savings . Mr. Bhandari is the principal founder and a leading shareholder of London based Monument Bank Limited ("Monument") which is a digital-first platform focused on providing financial services (with a Bank of England full-banking license) providing digital access to high-value services and technology solutions in various geographies around the world. 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.. 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. Mr. Rajaram is Chairman of Millennium Spire Investment Holding Ltd. and Chairman at K&L Gates Straits Law LLC. But some regulatory changes are required to make this happen. Dominique believes that her interchangeable experience has been invaluable and helps her to provide meaningful strategic partnering to the business. She regularly feels the urge to leave the City (and the English weather) behind, travel places and immerse herself in different worlds, landscapes and cultures. He needs to be focused on creating meaningful value and committed to continuous improvement. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. In his spare time, hes probably fishing (and says its called fishing, not catching, for good reason). With a very successful career over 35 years in banking, Niall brings a wealth of wisdom, knowledge and experience to Monument. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. For a year or so before the investment, we were interacting actively interacting with BK Goenka. Sav is a Relationship Manager with over 20 years experience in lending, origination and credit. This byline is mine, but I want my name removed. Hes interacted with almost all new UK entrants as either a regulator, advisor or investor. 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. 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. In her spare time, she finds a good evening walk boosts her energy and enjoys balcony gardening. Chan School of Public Health. They really didnt appreciate and respect our time. Meenakshi K Bhandari, Narindar K Bhandari, and seven other persons spent some time in this place. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 2020: When five years of digitisation took place in oneOn 1 January 2020, as we welcomed a new year, little did we know how the world would be transformed over the coming months. You can email the site owner to let them know you were blocked. Prerna holds a B-Tech in Computer Science from Visvesvaraya Technological University, India. Mintoo spent most of his career as an investor, building teams, and developing forward thinking institutions. AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. In his spare time Steve doesn't know how to relax, preferring instead a range of strenuous outdoor activities, over-ambitious DIY projects and researching his next gadget purchase. He is currently in the process of putting together a team in Mumbai. Net Worth Growth. 07 Feb 2018. In his spare time, he is a regular volunteer at his local Mencap charity where he drives the mini-bus for day trips and holidays, and for pleasure he is a keen skier and clay pigeon shooter. After graduating, she spent 9 years in operational leadership roles within customer service and mortgage & insurance sales before making the transition to HR. 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. In the past Mr. Bhandari was Director & Global Head-Corporate .