Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. Sudip holds a B.E. At its basics, its banking. 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. Apollo invests from its $14.7 billion global fund. Mintoo Bhandari, director with WELSPUN ENTERPRISES LIMITED, is registered with the Ministry of Corporate Affairs (MCA), bearing DIN 00054831. So, at times, the hardest work is to verify that a company is well-positioned in reality and that it is not just the rising tide that is colouring our perception. 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. A new digital-only bank backed by City of London veterans and targeting the UKs mass affluent is set to launch within months. Mintoo Bhandaris bank is on a mission to help millionaires. We have built Monument from the ground up, precisely for this community. 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. January 26 2023. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. So the opportunity to invest in sizeable private companies is much more limited here than it is in many other markets across the globe. Property of Mosaic Media Ventures Pvt. (212) 515-3200. All we're doing is saying, come to us for service, come to us for better deposit rates, come to us for complex lending.. Performance & security by Cloudflare. But Bhandari is not worried. These are the sectors which Apollo knows well globally and therefore, we are confident of adding value to those here in India. A risk expert through and through, Martin held senior roles at a variety of large institutions as well as some recent Fintechs. Mr. Bhandari joined Apollo in 2006. Steve brings 30+ years of technology management experience to our Board. 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. What is less well known is that the Monument was also designed as a landmark scientific instrument a giant telescope to advance knowledge. Niall is also the Chairman of the College Council at Glenalmond College and a NED at Non-Standard Finance. 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. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under FRN 849724. 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. Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. 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. In his spare time, Ioannis loves discovering new restaurants to visit with friends and will always try the latest food fad. We are also exploring and evaluating the credit markets in India. To burn off the calories Ioannis run marathons. In his spare time, you might find him working on charitable initiatives or in the gym. Monument has raised 10m in seed funding so far. Prior to that, he spent 7 years at Barclays Wealth in the UK. 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. 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. 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. He wont tell most people, but he was once known for his inverted iron-cross and similar feats. Technical excellence was a key area when we assessed the company. In her spare time, she is enjoying art, food and wine preferably all together! A busy Dad, in his spare time enjoys the UK live music scene and doing his bit to support emerging artists. Part of his vision is to improve margins further and he believes that one way to accomplish this is through backward integration, which will lead to greater stability of supply, greater control over quality, better margins and ultimately, as we hope, a more dominant position in the global market. We were getting the call centre run around constantly, the [relationship manager] we had originally kept getting changed, the relationship was all one way. She is also the co-founder of a female charity network. But after a glass of whisky, the fun begins and the guitar is out. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. In his spare time, he is with his young family or serving as Trustee of the European School of Osteopathy. 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. Today, Dababy's reported net worth is around $7 million. His net worth has increased steadily each year. It actually costs so much more to modernise your technology than build it from scratch, Khouri said. She holds a degree in Science in Planning and Urban Design from the University of Naples Federico II. He is currently in the process of putting together a team in Mumbai. 5 The Rolling Stones - $2. If I can summarise what excites us about Welspun, it is the unique combination of positioning and potential. Mintoo Bhandari Active New York, NY Senior Partner for Apollo Global Management, LLC (212)515-3200 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. These arent ultra-high net worth individuals, multi-millionaires who might outsource their finances to money managers. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS. Rand takes the reins from Mintoo Bhandari, current CEO and co-founder, who has led Monument from its inception to the achievement of full banking licence and commercial launch late last year.. She was on the Board of SEEDA with responsibility for Business and Tourism as well as being a founder member of the Kent Tourism Alliance, Chair of KM Radio, and one of the Trustees behind the building of the Turner Contemporary Art Gallery in Margate. Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. In her spare time, she finds a good evening walk boosts her energy and enjoys balcony gardening. Mintoo Bhandari Founder & Managing Director. Another entrepreneur in residence. 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. in Electrical and Electronics Engineering and a MBA from IIT, Delhi. DaBaby's reported annual income is more than $500,000 per year and over $45,000 each month. 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. He has published numerous articles and speaks frequently regarding banking, fintech, macro-economic, finance and investment topics. The firm has appointed Mintoo Bhandari to head the India operations, who was till now a partner at the UK unit of Apollo Management. 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. Find out more, 1 Poultry, Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. Feike is a Dutchman who has lived and worked in the UK for 14 years. Many of them have three, four, five, or six properties, and they almost become professional landlords on the side, says Bhandari. Monument Bank Limited (10921940) is registered in England at 33 Cavendish Square, London, W1G 0PW. A lifelong Liverpool fan (along with fellow Celt Iestyn) he is basking in glory (for now). They can raise equity and they can raise senior secured bank debt but there isnt much available in-between. To be active under these conditions, investment firms have to be fundamentals-driven and contrarian. 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. Fiona has a varied portfolio of Non-Executive Director roles including Melton Building Society, Nexa Finance, and VisitEngland. Summary. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. But it isnt always easy, for organisational or other reasons, to pull the trigger when markets are choppy. 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 brings with her 21 years of financial services and regulated markets experience from ING Direct UK, Friends Life, Aviva and Entain. For Bhandari, this is the second stint in Indian private equity space. Americas +1 212 318 2000. Conor is all about tailored lending solutions for you. 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. 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. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. Related Story. Monuments plan is to do mass affluent banking better, and to reach profitability within 24 months of launch. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. Copyright The President and Fellows of Harvard College, Harvard T.H. In his spare time Steve doesn't know how to relax, preferring instead a range of strenuous outdoor activities, over-ambitious DIY projects and researching his next gadget purchase. We are fundamentally a value-oriented and often contrarian investor. How does the deal-making environment look? 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. This byline is mine, but I want my name removed. Bhandari will also step back from his direct leadership role at Aion Capital Partners, a special situations-focused joint venture launched by Apollo and ICICI . Financial Services. In her spare time, youll most likely find Dominique being taken for a walk by her dog or planning her next trip to fulfil an ambition of seeing classical opera in its country of origin. In his spare time, hes watching football and hasnt missed a Wales game in 8 years. Typically, Apollo will look to invest anywhere between $150 million and $1 billion out of this current global fund. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. He claims its with his son; but the jury is out. 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. But an investment firm considering these markets has to develop a carefully tailored strategy for each market, as they are very different. Apollo Management's real estate investment arm, Apollo Real Estate Advisors, currently runs a $650 million real estate private equity fund in . The Economic Times, which reported the development earlier on Wednesday, said Bhandari would continue to . 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. 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. Last year, the company achieved 19 per cent EBITDA margin, one of the highest in the industry and very exceptional for a metals business, on approximately $1.7 billion of revenue, but he is not satisfied. Globally, Apollo is also very active in credit markets and real estate. With 30 years in Financial Services, Steve has seen it all. Chan School of Public Health. 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. Works at Study (chess) Lives in Ludhiana, Punjab, India. There are very few CEOs in the industry who go out of their way to ensure personally that their customers are happy and BK Goenka is one of them. 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. London, Copyright 2023 VCCircle.com. 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. In his spare time, he is either watching sports or playing Golf. Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] 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. We think there will be significant benefits to companies if the market has a wide variety of options. Much of what Bhandari describes is unproven, and hes frank that the banks plans will certainly change and evolve as it comes to market. Andrew has won the Sunday Times award for Non-Executive Director of the Year in the public/not for profit sector. Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. To be a successful investor in India, we believe that you have to have both a good promoter and a fundamentally good business. United Kingdom, Alternative Lending During A Downturn Report, Monument launches market-leading 5-year 2.2% savings rate (if youre wealthy enough), Monument co-founder hands over CEO role to ex-Barclays boss "to scale the bank", New neobank Monument readies for launch after regulator lifts restrictions, Monument Bank founder: Mass affluent banking is our path to profitability in 24 months, New digital bank for the rich Monument secures restricted UK banking licence. Were here for our clients and the level of service they deserve. The Covid-19 pandemic upended life as we knew it, crippled global economies and changed how we all . In his spare time, you would find him in a photography gallery or a museum with his camera on his shoulder or developing his analogue films at home. 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. These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. 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. He is a past Chairman of the Singapore Indian Chamber of Commerce and currently an Emeritus Chairman. Ltd. Get daily update with our newsletter Subscribe Now ! 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. We believe that the blended entry price we were able to create at Welspun is very compelling and that it compares very favourably to other private equity deals done in India over the past decade. It's the largest unserved market opportunity in the world today in financial services, the calmly-spoken founder explains, pointing to people with a net worth of between 250k and 5m (excluding their main property). And we are indeed fortunate Martin is currently a NED at Oakbrook Finance and was Chairman of Castlight Financial until very recently when it was acquired by Equifax. In her banking career, Fiona worked for Barclays, Daiwa Europe Bank, NatWest Capital Markets and most recently, Goldman Sachs. 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. Less classical is how Monument will operate, by harnessing the growing power of open banking. Helene is also a Trustee on the EDHEC Business Schools foundation. 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. Apollo India Private Equity II (Mauritius) Ltd. Read more: RBS abandons Monzo-challenger B. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management (APO NYSE). A London Business School professor (and former Dean), who has also had a very successful career in commercial life and government. The project has drawn funding from City of London veterans including former Panmure Gordon chief executive Ian Axe and London property developer Chris Murray. 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 .
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