Ajay Srinivasan

Ajay Srinivasan
Born (1963-11-02) November 2, 1963[1]
Residence Mumbai, India
Alma mater St. Stephen's College, Delhi
Indian Institute of Management Ahmedabad
Occupation Chief Executive Officer-Financial Services, Aditya Birla Group
Known for Leadership of Aditya Birla Groups financial services arm
Spouse(s) Mohyna
Children Mallika and Aditya

Ajay Srinivasan is the Chief Executive-Financial Services of Aditya Birla Group.[2] Since he started his career in 1987, Srinivasan has served in various capacities with ICICI Group, ITC Group and Prudential plc including board positions prior to joining the Aditya Birla Group in 2007.

Early life and Career

Srinivasan was brought up in New Delhi, India. He was a student at St. Columba's School, Delhi and St. Stephen's College, Delhi prior to pursuing his MBA at Indian Institute of Management Ahmedabad in 1987.[3]

His first job was at ICICI involving project appraisals. Thereafter, he joined ITC's financial unit initially managing their in-house funds. Srinivasan's first major leadership role involved settling up of ITC Threadneedle Mutual Fund, where he was credited with establishing the business amidst competition from several new players in the market.[4][5]

He later went on to become Managing Director at ICICI Prudential Mutual Fund in 1998. In 2001, Prudential plc, joint venture partners in ICICI Prudential Mutual Fund decided to move Srinivasan to Prudential Asset Management in Hong Kong where he spent seven years.[6][3][7] At Prudential, he was in-charge of their Asia business spanning ten markets and managing $60 billion in assets.[8][9]

Aditya Birla Financial Services

In 2007, Srinivasan joined Aditya Birla Group as Chief Executive-Financial Services. He was hired by group Chairman, Kumar Mangalam Birla with the mandate of taking the group's financial services business to the next level.[8] When he joined the company, it had five business verticals which were collectively loss making and as of 2016 the company had diversified into twelve business verticals collectively making a profit.[10]

Under his leadership, the group started various new business verticals as part of the financial business such as private equity, broking, money management,[8] a health insurance business in joint venture with MMI Holdings Limited,[11] a payments bank in joint venture with group company Idea Cellular,[12] and a housing finance company.[13]

As of 2016, the financial services business had grown more than five times in size since Srinivasan took over as CEO.[3] The Aditya Birla Group announced a plan to restructure its business in 2016. As part of this plan, the financial services business would be listed as a separate entity on stock exchanges under Srinivasan's leadership.[14]

Personal life

Ajay Srinivasan is married to Mohyna, who is a novelist and they have two children, a daughter named Mallika and a son named Aditya.[15]

Srinivasan is a sports fan and an avid golf and cricket player.[3][16]

References

  1. ↑ "Birla Sun Life Insurance Annual Report 2014-15" (PDF). Birla Sun Life Insurance Company. Retrieved 12 May 2017.
  2. ↑ Nair, Anupriya (29 December 2015). "‘More money must be put into capex’". The Hindu Business Line. Retrieved 11 May 2017.
  3. 1 2 3 4 Krishnan, Ravi (9 December 2016). "Ajay Srinivasan: The money spinner". livemint. Retrieved 11 May 2017.
  4. ↑ Publishing, Outlook (19 April 2008). "Outlook Profit". 1 (5). Outlook Publishing: 59. Retrieved 13 May 2017.
  5. ↑ Kothari, Dheer (27 November 2000). "Shailendra Bhandari To Succeed Ajay Srinivasan At Prudential Icici". Business Standard India. Retrieved 13 May 2017.
  6. ↑ Shetty, Mayur. "Keeping pace in times of slowdown". The Times of India. Retrieved 13 May 2017.
  7. ↑ Mahanta, Vinod (16 August 2013). "High Priority: Why Ajay Srinivasan keeps to-do lists for the day, the week and the year". The Economic Times. Retrieved 11 May 2017.
  8. 1 2 3 Majumdar, Sourav; Panchal, Salil (22 June 2015). "Making the money business work at Birla". Forbes India. Retrieved 11 May 2017.
  9. ↑ "Ajay Srinivasan, driving the financial services biz of Aditya Birla Group". businesstoday. 28 September 2011. Retrieved 11 May 2017.
  10. ↑ Babu, Venkatesha; Kaushik, Manu; Nayak, Mahesh (13 March 2016). "Talent Incubators". businesstoday. Retrieved 11 May 2017.
  11. ↑ "Ajay Srinivasan from Aditya Birla Financial Services talks about the new health arm and partnering with MMI Holdings". The Economic Times. 24 November 2016. Retrieved 11 May 2017.
  12. ↑ Mathew, Alex (22 December 2016). "Aditya Birla Financial Services Hasn’t Missed The Payments Bank Bus, CEO Says". Bloomberg Quint. Retrieved 11 May 2017.
  13. ↑ Ninan, Oommen A. (10 December 2015). "‘Aditya Birla Financial eyes unsecured loans’". The Hindu. Retrieved 11 May 2017.
  14. ↑ Panchal, Salil (6 September 2016). "Grasim-Nuvo merger and its apprehensions | Forbes India". Forbes India. Retrieved 11 May 2017.
  15. ↑ Dutta Choudhury, Sonya (13 February 2012). "What Is a Campus Holiday?". forbesindia. Retrieved 11 May 2017.
  16. ↑ Menon, Rashmi (8 April 2015). "Gully cricket in an ivory tower - The Economic Times". The Economic Times. Retrieved 11 May 2017.
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