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| V. Vaidyanathan |
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Chairman & Managing Director
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Capital First
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Mr. V. Vaidyanathan, aged 46, is the Chairman and Managing Director of Capital First Limited (CFL). He concluded India's largest Management Buyout of a listed company which is one of his significant professional achievements. As part of this MBO, Warburg Pincus, one of the world's most reputed Private Equity players, with funds of over US$ 40 billion in 36 countries, has acquired a majority stake (70.57%) in Capital First Limited.
In 2010, in order to take an entrepreneurial role, he joined Capital First from ICICI Prudential Life Insurance Company, where he was the Managing Director and CEO. Under his leadership, the Company's long term credit rating has been re-rated thrice from A+ to AA+ within 3 years.
In 2010, the Company had Rs. 10.00 bn of assets, of which 10% was in retail assets. He has changed the composition of the loan book to dominantly retail (81% retail) and grew the company's assets to Rs. 96.79 billion (March 14). Since his joining Capital First, he has successfully launched a number of retail businesses including MSME financing, Gold Loans, Two Wheeler loans, Consumer Durable loans and has implemented latest cutting edge technologies and scoring solutions in the company. He has built a large retail franchise of over 164 branches, 1089 employees across 40 cities, and has made Capital First a leading player in lending to MSMEs.
He joined ICICI Group in early 2000 and was one of the Senior Management responsible for transition of ICICI from a Domestic Financial Institution (DFI) to a Universal Bank. He launched the Retail Banking Business, and helped the change of ICICI bank into a large retail powerhouse in the country. He built a network of over 1400 ICICI Bank branches across 800+ cities including 25 million customers, built a vast deposit base and a retail loan book of US$ 30 billion in Mortgages, Auto loans, Commercial Vehicles, Consumer Loans Credit Cards and Personal Loans. He also built the SME business (since 2003) and Rural Banking Business (since 2007) for ICICI Bank. His key passion is the usage of new age technology to expand organized retail lending and deposits to a vast expanse of India.
He was appointed as Executive Director on the Board of ICICI Bank at the age of 38. He was also the Chairman of ICICI Home Finance Co. Ltd., and served on the Board of ICICI Lombard General Insurance Company and CIBIL, India's first credit bureau. He started his career with Citibank India Consumer Banking Division in 1990 and worked there till 2000.
His contribution won him and the Bank many domestic and international awards including "Best Retail bank in Asia 2001", "Excellence in Retail Banking Award" 2002, "Best Retail Bank in India 2003, 2004, and 2005 from the Asian Banker", "Most Innovative Bank" 2007, and was nominated "Retail Banker of the Year" by EFMA Europe for 2008 and 2009. He is an alumnus of Birla Institute of Technology and Harvard Business School.
He is a regular marathoner. He lives in Mumbai with his family of father, wife and three children.
Mr. V. Vaidyanathan holds 3,41,496 Equity Shares in the Company as on March 31, 2014. As on March 31, 2014, JV and Associates LLP, in which Mr. V. Vaidyanathan is a partner, was holding 47,73,795 Equity Shares of the Company.
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