MUMBAI: TPG-backed mortgage lender Grihum Housing Finance is preparing to appoint Arjun Chowdhry, a former Citibanker, as its new Managing Director and CEO, according to insider sources. He is anticipated to join the firm next month. Chowdhry, who has over two years of experience as the head of retail lending and credit cards at Axis Bank, resigned last month to embark on an entrepreneurial journey.
“TPG and the board believe Arjun’s expertise in underwriting credit card customers will greatly benefit strategies aimed at low-income clients, often perceived as higher risk,” noted a knowledgeable official.
Messages sent to Chowdhry and Grihum haven’t received a response yet.
In a notice to stock exchanges on August 21, Grihum Housing Finance announced that its current MD & CEO, Manish Jaiswal, will resign effective August 31. Jaiswal will remain as an advisor to the board until December 31, with the company committed to finding a suitable replacement in due time.
Additionally, sources indicated that Girish Kousgi, the outgoing MD of PNB Housing Finance, is poised to take on the role of CEO at IIFL Home Finance after Monu Ratra’s resignation to pursue other opportunities. Kousgi, who cited personal and professional reasons for his departure, will stay with PNB Housing until October 28 to ensure a smooth transition.
