Mumbai: Clix Capital today announced the appointment of Rakesh Kaul as its new Chief Executive Officer with effect from 16 August 2021. As the CEO, he will be responsible for all business verticals, reporting directly to the Board.
A 24-year veteran of the Financial Services sector, Rakesh specializes in Retail Banking, Wealth Management, Insurance, Mortgages, etc., and has held a wide variety of leadership positions in India, Malaysia and other countries in the Asia Pacific region. He joins Clix Capital from RHB Malaysia, where he led the Consumer Banking business for the group covering Malaysia and ASEAN markets. Earlier, he was associated with Citigroup, holding several leadership roles across its Consumer Banking, Corporate Banking and Capital Markets divisions.
“Be it Product Development, Sales & Distribution, Corporate Strategy, Business Management and Risk Management, Rakesh’s cross-functional exposure has been deep and diverse. He has tremendous experience in leading teams, managing businesses through change cycles, building scale and driving transformation,” said Pramod Bhasin, Chairman – Clix Capital.
Speaking about the induction, Anil Chawla, Founder – Clix Capital stated, “I’m thrilled to have Rakesh in this role and look forward to collaborating and advancing our founding vision of bridging the credit gap among underserved and unserved cohorts, including MSMEs and new-to-credit consumers. He holds a deep understanding of Retail and Corporate Banking along with stellar industry networking, all of which will be invaluable for the growth of our Company.”
“Given his strong grasp of new-age technologies that are disrupting financial services coupled with robust domain knowledge, Rakesh will play an important role at Clix in building new platforms for growth,” added Utsav Baijal, Senior Partner & Head of India Private Equity – Apollo Management.
Rakesh Kaul, designated CEO – Clix Capital said, “I’m honoured to accept this crucial role with Clix Capital as they continue disrupting and reshaping the NBFC sector. We will focus on deploying cutting-edge technologies and insightful innovations in driving lending models responsive to end-customer needs. While significantly boosting financial inclusion, Clix Capital remains poised for rapid market expansion.”
Clix’s strong focus on technology and strategic partnerships has helped it scale up and expand its footprint to around four million customers within four years. This has been achieved by building a strong franchise of fast-growing businesses across SME lending, consumer finance, mortgages and equipment finance.