Sabharwal will be joining the company in January 2018.
In a recent announcement, Tata Capital has appointed Rajiv Sabharwal as chief executive officer and managing director. Sabharwal will be joining the company in January 2018 and would be taking over from the company's current managing director and CEO Praveen P Kadle, who will be assuming other responsibilities in the Tata Group effective April 1, 2018.
Speaking on the appointment, N Chandrasekaran, chairman, Tata Sons, says in a press release, "We are delighted that Rajiv is joining the Tata Group. With India's financial sector growing at a rapid pace, we are confident that his extensive experience will be highly beneficial as we expand our footprint in this industry. Rajiv's expertise and knowledge will help Tata Capital chart the next phase of growth in financial services."
He adds, "I would like to thank Praveen Kadle for his leadership that has set a strong foundation for Tata Capital to capitalize on the tremendous opportunities that lie ahead."
Commenting on his appointment, Sabharwal, says in a press release, "I am excited and honored to join the Tata Group and lead Tata Capital. The Tata brand invokes trust and I am confident that the Tata financial services group will play a significant role in growing and redefining the financial sector in the country. We intend providing best in class service to our customers and create lifelong relationships with them. We will leverage technology and create innovative customer centric digital solutions."
Kadle added, "It has been a unique privilege to serve as the founding managing director and CEO of Tata Capital over the past ten years. We have collectively built a sound platform and I am confident that Rajiv will help take Tata Capital to newer heights. I wish Rajiv and the entire Tata Capital team all the very best."
Sabharwal is currently a partner at True North Managers, formerly India Value Fund Advisors. A banking veteran of over 26 years, Sabharwal was an executive director on ICICI Bank's board before joining True North. He was responsible for building one of the largest retail financial services franchise in the country. He has also been part of several Reserve Bank of India and Indian Bank Association's committees. He is a graduate from IIM Lucknow and a mechanical engineer from IIT Delhi.