At its basics, its banking. Another thing we considered was that Welspun is very well known for its customer service. During his career he has worked as a C++ developer / DBA and Sys Admin, so brings this experience to his current role. 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. Copyright 2023 Surperformance. This website is using a security service to protect itself from online attacks. A decade ago it would have cost billions to deliver the technology solutions that we can deliver for single digit millions, Bhandari said. The 25 per cent threshold seems much more rational. She holds a degree in Science in Planning and Urban Design from the University of Naples Federico II. Customers can also track their net worth and source advice on things like property law and inheritance. Also, what is the sweet spot for your investments? With a very successful career over 35 years in banking, Niall brings a wealth of wisdom, knowledge and experience to Monument. 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. Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] Helene is a Non Executive Director with humm, the UK subsidiary of the consumer and commercial finance Australian-listed group. 161.97.131.216 Prior to joining Monument, he was a Senior Director at Publicis Sapient, where he worked with several Tier 1 banks, start-ups, and numerous other organisations. All rights reserved. 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. EC2R 8EJ Globally, Apollo is also very active in credit markets and real estate. Hes also held roles at Booz & Company and at Sapient as a technologist. We are also looking at different opportunities in real estate space, but are doing so in a very measured manner. He actually started his career in Tech and now hes adding the Fin. 87) and the Harvard Business School (MBA 92). After starting his career at Price Waterhouse as an auditor, he has worked in retail banking for nearly 25 years. As a Product Manager at Monument, Ioannis is intent on making financial institutions more than just places to store and access money. Find out more, 1 Poultry, 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. In addition, AltFi runs major industry events around the world. Meet the mass affluent Khouri compared big banks IT systems to a spaghetti of integration and said Monuments systems were more Lego-like, combining best in class cloud services. Anita is a member of Women on Boards UK and holds a BSc degree in Psychology from the University of Durham. He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. Monument Bank founder and chief executive Mintoo Bhandari. We were getting the call centre run around constantly, the [relationship manager] we had originally kept getting changed, the relationship was all one way. (212) 515-3200. 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. 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. Monument has been in development for 18 months and currently has 12 full-time staff. Our lending and membership products are not included within the scope of this regulation; for more information, please see the Financial Services Register. 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. 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. Sav joined Monument as he was drawn to the unique blend of technology with a human touch and he has always wanted to build a robust lending book from the ground up. Her experience spans international blue-chip companies in retail and consumer finance, and payments, including 16 years at Visa. 27,324 executive movements have been recorded in the last 12 months. Read more: Starling CEO Anne Boden on Bounce Back loans and growing during COVID-19 pandemic. 5 The Rolling Stones - $2. Martin is currently a NED at Oakbrook Finance and was Chairman of Castlight Financial until very recently when it was acquired by Equifax. In his spare time, hes probably assessing the risk of a recent news article if not cooking, wine tasting or wine collecting (he has a level-3 diploma from the Wine & Spirits Education Trust), reading and running. MUMBAI: Mintoo Bhandari, India head of global private equity fund Apollo Global Management, will relinquish his responsibility of day to day fund management and move to a senior advisory role, said three people with direct knowledge of the development. India and China are probably the most important emerging markets in the world. 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. Cloudflare Ray ID: 7c0e749e1df7382b You can email the site owner to let them know you were blocked. 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. There are a few notable exceptions, though, such as telecom towers, power, infrastructure and real estate, in which there are sizeable private companies and these sectors do appear to be in need of significant private equity over the coming years. He is currently working on how to improve human judgement in public and private life. Laura holds a BA(Hons) in Public Relations from Bournemouth University. Prior to that, he spent 7 years at Barclays Wealth in the UK. People are saying: oh I dont know if I would do a million pound transaction on my phone. A key thread throughout Helenes career is growth and change supporting companies through both internal and external growth, but also coaching and mentoring entrepreneurs and professionals for personal growth and professional development. Bhandari has led deals in Avantha Holdings and the buyout of GE Capital Services and Planet cast Media services. In his spare time, you might find him working on charitable initiatives or in the gym. Ioannis holds a BA(Hons) in Economics from Durham University. 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. This byline is mine, but I want my name removed. Excerpts: What attracted you to invest in Welspun? 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. Wasim is obsessed with two things: a client-first approach and use of modern technology to deliver our strategy. 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. Having unexpectedly landed in the technology start-up space right after University, Laura has spent 5 years immersed in the world of apps that are designed to enhance the lives of high-net-worth individuals. 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. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. 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. Mintoo Bhandaris bank is on a mission to help millionaires. Currently he is CIO at Bupa, and prior to that he was CIO and subsequently COO at The Co-operative Bank plc where he led a successful technology migration and was a key member of the Executive team which turned the bank around. Before joining Apollo in 2006, he had . Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. But that goes with Apollos DNA, which is a value investor, making contrarian investments in high-grown markets like India, says Mintoo Bhandari, Apollo Managements Senior Partner and MD of its local affiliate AGM India Advisors. Also, Welspun has great leadership and a deep, capable team committed to continuous improvement and accomplishment. Contact Mintoo, search articles and Tweets, monitor coverage, and track replies from one place. 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. Mintoo Bhandari. Were here for our clients and the level of service they deserve. He is really excited about his role at Monument helping to build and scale a truly modern, digitally enabled bank for our clients. 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. We are fundamentally a value-oriented and often contrarian investor. He led, developed and oversaw . Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. Many of them have three, four, five, or six properties, and they almost become professional landlords on the side, says Bhandari. 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. Performance & security by Cloudflare. I would say that PE investment, in general, is somewhat cyclical. More recently, Anita has been focused on supporting digital start-up banks develop and execute their corporate strategy. For Bhandari, this is the second stint in Indian private equity space. Bhandari is also keen to devote more time to the social sector and will work closely with Nobel laureate Kailash Satyarthi and Harvard Endowment Fund, said the person cited above. 9 W 57 St, New York, NY 10019. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. 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. Americas +1 212 318 2000. These arent ultra-high net worth individuals, multi-millionaires who might outsource their finances to money managers. Delivered Monday 9am EST/ 6am PST. 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. 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. As an academic, Andrews working and non-working time tend to merge. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. He has a big vision and great personal drive to achieve a tremendous amount. He is a past Chairman of the Singapore Indian Chamber of Commerce and currently an Emeritus Chairman. Monument therefore reflects our purpose as a new bank that will deliver strength, appreciation, and a visionary path forward. However, it is not as easy as it might sound; its a big challenge and requires substantial effort. She is also the co-founder of a female charity network. Monument Bank is in the late stages of securing a banking licence and expects to launch later this year. He has vast experience in team building, fund-raising and establishing strategic partnerships, which along with his consumer service and broad management background are key skills to complement the Board. She joined us from London Executives Offices where she was a Deputy Manager. Since both your investments are in listed companies, is Apollo Management more focused on PIPEs in India? Partner Investments Number of Partner Investments 1 Jobs Number of Current Jobs 2 Mintoo Bhandari has 2 current jobs as Founder & Managing Director at Monument Bank and Senior Partner & Managing Director at Apollo. 4 Ed Sheeran - $2.4 million per show. And if not, you will find him in the theatre with a glass of wine. 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. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. We think there will be significant benefits to companies if the market has a wide variety of options. 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. Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. Feike is a Dutchman who has lived and worked in the UK for 14 years. Copyright The President and Fellows of Harvard College, Harvard T.H. One of the elements that we look for is the quality and depth of management, which Welspun has in abundance. Property of Mosaic Media Ventures Pvt. Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. He joined Apollo in 2006 in its New York headquarters, worked in the London office and then launched Apollos India advisory firm (AGM India Advisors Pvt Ltd) in Mumbai in 2008 and continued to serve on Apollo related Boards until 2021. Minda Corp moves competition watchdog for buying stake in rival, Two suitors left as race narrows for TPG's stake in green energy firm, Prolific angel investor Rajesh Sawhney's GSFshown red signal for delayed VC fund, PE firm WestBridge Capital bumps up stake in private lender, Grapevine: Tiger Global exits Freshworks; Cred's Shah taps GIC for new NBFC, World Bank set to launch more robust, transparent business climate rankings, Apollo Globals Mintoo Bhandari takes on advisory role, to move to UK. Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. Age : 57. How does the deal-making environment look? For Bhandari, this is the second stint in Indian private equity space. United Kingdom, Alternative Lending During A Downturn Report, Revolut and Atom Bank investor slashes fintech valuations, Female Invest: Meet the women taking on the gender finance gap, Gradual homeownership fintech Wayhome raises 8m Series A, Klarna positions itself as more than BNPL with suite of AI-powered tools, ClearBank appoints ex-PayPal and WorldPay exec as new CPO. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. Conor is all about tailored lending solutions for you. Apollo India Private Equity II (Mauritius) Ltd. He is also the Vice President of the Dyslexia Association of Singapore, Deputy Chairman of the Board of Trustees and Executive Committee of the Institute of South East Asian Studies (ISEAS). Mintoo graduated from MIT with a S.B. Market regulator SEBI has recently come out with changes to the takeover code, increasing the open offer limit to 25 per cent. 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. What do you think of it? He claims its with his son; but the jury is out. As we are in a hyper-growth environment in India, every company can look well-positioned. In the Banking industry, Mintoo Bhandari has 83,692 colleagues in 4,890 companies located in 188 countries. Do you see more opportunities during this current uncertainty? Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. That said, India has a history of and potential for leapfrogging. 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. In India, Mr. Bhandari was involved with several industrial, media and financial services opportunities, and also formed ARCION, an asset reconstruction company. He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. Mr. Bhandari is a graduate with distinction of the Massachusetts Institute of Technology (Mech Eng, S.B. He left Apollo Global Management after nearly 12 years as a Senior Partner and Managing Director, working in New York, London and then successfully setting them up in India. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. We are also exploring and evaluating the credit markets in India. Prior to joining Apollo in 2006, Bhandari was managing director at The View Group. In many such cases, it would be in the best interest of the public shareholders to offer them a fair and clean exit. Asia Pacific +65 6212 1000. January 26 2023. 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. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under FRN 849724. Even in the post-financial crisis world, where banking licences have become somewhat easier to obtain, its still a rare pleasure to meet a banks founder before its even launched. 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. How did the transaction come about? One of the factors fundamental to the investments which we pursue in India is that we seek to ensure that the promoter we are backing has a vision similar to ours. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. When there is an attractive but complicated and challenging situation, we believe that Apollos investors can get compensated for that complexity as most private equity firms shy away from such situations and generally dont focus on the industries which pose such challenges. Alex is our Chief Architect. In his spare time, hes probably fishing (and says its called fishing, not catching, for good reason). Dominique believes that her interchangeable experience has been invaluable and helps her to provide meaningful strategic partnering to the 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.. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. If I can summarise what excites us about Welspun, it is the unique combination of positioning and potential. Fintech and alternative finance headlines with an exclusive Editor's Note each week. 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. We have that in BK Goenka. Much of what Bhandari describes is unproven, and hes frank that the banks plans will certainly change and evolve as it comes to market. 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. At Monument, he is determined to build a world class, plug-and-play banking platform. In his own words: I can just keep going. If there are additional opportunities and companies that fit these criteria within a promoter group in which Apollo has invested, it obviously is easier to pursue an investment in them as we already have the comfort level and confidence in the promoter and the team. To burn off the calories Ioannis run marathons. With 30 years in Financial Services, Steve has seen it all. Monument Bank Limited (10921940) is registered in England at 33 Cavendish Square, London, W1G 0PW. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. Companies, with as little as a few million dollars in EBITDA, can go public. Steve brings 30+ years of technology management experience to our Board. Manta Bhandari. In India, we will focus on these sectors because we believe that we can add meaningful value to those and also because we believe that it makes sense here from the perspective of comparative advantage and the economics of the value chain. He was the Vice-Chairman of the Singapore Business Federation, and Council Member of ASEAN Chamber of Commerce and Industry. He has worked on cutting edge, highly interactive applications and advergames on mobile and web platforms with an obsession with writing clean code. Find out more, 1 Poultry, 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. Bhandari said RBSs recent decision to shut its digital challenger bank Bo was a good example of how big banks lack the culture to build these things. According to his profile on the Apollo website, Bhandari joined Apollo in 2006 from The View Group which was an India-focussed private equity firm. The world is going to get more competitive and efficient, and India must do the same if it is to develop its full potential. The Economic Times, which reported the development earlier on Wednesday, said Bhandari would continue to . Prior to joining, he spent most of his career at McKinsey working with clients on strategy, revenue growth management and large digital transformations, specialising in consumer-centric organisations, and the use of data science. We and many other private equity firms active in India recognise that there may be an opportunity in providing more flexible financing. Ltd. Get daily update with our newsletter Subscribe Now ! 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. Mintoo Bhandari Founder of Monument Bank Limited London, England, United Kingdom 3K followers 500+ connections Join to view profile Monument Harvard Business School About Private Equity, Banking. 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. Apollo Global Management LLC, the $70 billion alternative asset management giant, started its private equity operations in India, just around the time of the global financial meltdown during September 2008. If hes not training for his next race he is probably talking about it. Investment Manager and Investor. 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 . In his spare time, he will be playing superhero themed Lego. ( 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. With over 20 years of experience, Sudip has built technology platforms for start-ups as well as very established institutions in the UK. 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. In addition, AltFi runs major industry events around the world. And some of its potential can be realised through backward integration and consolidation in a market that is still fragmented and has few focused and committed players. Click to reveal Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. In her banking career, Fiona worked for Barclays, Daiwa Europe Bank, NatWest Capital Markets and most recently, Goldman Sachs. Less classical is how Monument will operate, by harnessing the growing power of open banking. He is actively involved in social work and is a Patron of the Taman Jurong Citizenship Consultative Committee. They really didnt appreciate and respect our time. Apollo has closed two transactions till date since starting its operations $100 million in DTH service provider Dish TV India and $350 million in two Welspun group companies. 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. But, in the grand scheme of things, he is one of the highest-paid rappers of all time per show. 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. She also runs her own business and property development company. But in your hands, it can become so much more. Our approach in India is focused on certain sectors. 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. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. Founder of Monument Bank Ltd., Mintoo Bhandari presently is Managing Director at AGM India Advisors Pvt Ltd. Mr. Bhandari is also on the board of SOURCECORP, Inc., Apollo India Private Equity II (Mauritius) Ltd., Welspun Maxsteel Ltd. and Insight Solutions Ltd.

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