India Factoring

Board of Directors

Murali Subramanian – Chairman (Non-Executive) Nominee Director from FIMBank Plc

Chairman (Non-Executive) Nominee Director from FIMBank Plc

Murali Subramanian is a results-oriented senior banker with a proven track record in developing and executing growth strategies on a global basis. Prior to joining FIMBank, Murali was Executive Vice President at Abu Dhabi Commercial Bank for six years, where he held the position of Head of Transaction Banking of the Group. His key responsibilities at this financial institution included the management of trade and supply chain business, where he oversaw the growth and return to profitability of this USD 250 million revenue business. This followed a 21-year career at Citibank and earlier at ABN Amro, where he occupied various posts in several geographies, ending his career at Citi as Managing Director, Global Head of Domestic Payables. At Citibank, Murali built the Trade, Supply Chain and Cash Management businesses in MENA, West Africa, Russia and the CIS, and extended the company’s domestic payables capabilities in over 100 countries. Murali holds a Bachelor of Technology in Mechanical Engineering degree from the Indian Institute of Technology, as well as a Master’s in Business Administration, Finance and International Business from the Indian Institute of Management. He was appointed Chief Executive Officer of the FIMBank Group on 6th August 2015.

Mr. Howard Gaunt - Board Member

Independent Director

Howard Gaunt is an American from New York and joined the FIMBank group in November 2015 as the Group Chief Operating Officer. He is responsible for the overall operations related functions across the group and sits on several committees including: the Executive Committee, Credit Committee, Asset-Liability Committee and the IT Steering Committee. Howard is also a director of FIM Property Investment Ltd and FIM Business Solutions.

Before joining the FIMBank group, Howard was the General Manager for the Wholesale Banking Group activities in the Abu Dhabi, Al Ain and GCC regions at ADCB between 2007 and 2015. He was responsible for the strategic development and end-to-end management of the Commercial (SME), Corporate (TTLC) and Government (GRE) businesses across the local, GCC and Indo-Arab trade corridor. Howard successfully integrated the customer coverage and analytics units allowing for the industry and customer segmentation, single banker customer coverage and the creation of the Client Service Team.

Howard’s banking career spans over 34 years in senior national and international assignments with Wells Fargo and Company, Citibank, Citicorp, Citigroup and Samba Financial Group. He has a Bachelors degree in Political Science and International Relations from the University of Southern California (USC) and is a Certified Investment Manager, CIMC, with the Investment Management Consultants Association, IMCA.

Mr. Michael Davis – Nominee Director from FIMBank Plc

Nominee Director from FIMBankPlcMichael Davis, (born in Gibraltar in 1957) graduated with a BA honours degree from Sussex University, England, in 1979 and then completed a Post Graduate Certificate in Education in 1980. He began his banking career in the UK in 1986 after a six year period as a secondary school teacher. He has over 23 years of regulatory and compliance experience and joined FIMBank in July 2011 as Head of Compliance and MLRO. Prior to that he was EMEA Head of Compliance for the Macquarie Group based in London. During his 11 years at Macquarie he was responsible for setting up Macquarie’s compliance infrastructure throughout the region, during a period of extraordinary growth, from 45 members of staff in 2000 to over 1500 in 2011. He was also responsible for managing relationships with key regulators throughout the UK, Europe, South Africa and the Middle East, and was responsible for the licensing of several Macquarie branches and subsidiaries. He has also played active roles on various industry association committees in the UK, specialising in compliance and regulatory issues. Prior to specialising in compliance, his early banking experience was spent trading foreign exchange, money market instruments and commodity derivatives. He joined LME Ring Dealing and founder member Rudolf Wolff & Co Ltd in 1990 as a Treasury Trader, and in 1992 became their Compliance Officer and MLRO. Michael is a skilled trainer in compliance and anti-money laundering matters, and has been an examiner for the Futures and Options Association Diploma in Compliance in the UK.

Mr. R. S Reddy – Independent Director

Independent Director

R. S Reddy is an ex-Chairman and Managing Director of Andhra Bank. He has over 35 years’ experience in the banking sector with 28 years in front-line assignments, a challenge by design and preferred by personal choice. He has worked on several committees of RBI and Indian Banks Association. He is currently on the boards of several companies, and also advises many companies on finance and management. He started his career with Bank of India; he chaired the Review Committee of four General Managers, reviewing all disciplinary cases from the vigilance angle while also reviewing the prompt disposal of all vigilance cases. At Bank of India – New York, he succeeded in obtaining a composite rating - “Strong” from the Federal Reserve, Federal Deposit Insurance Corporation and State Banking Department of New York, an honour achieved by very few foreign banks. Thereafter he was the Executive Director of Union Bank of India, where he successfully migrated to Core Banking Solutions within a record time, which helped create a robust real time monitoring system to oversee various operations and take corrective steps. During his tenure at Andhra Bank as a CMD, he launched a Life Insurance Joint Venture Company, India First Life Insurance Co. Ltd. - a tie up with UK’s Risk, Wealth and Investment Company Legal & General, and Bank of Baroda. He also introduced a wide range of value added banking products and financial services to corporate and retail customers, and undertook various community and social investments as an initiative towards financial inclusion. He has earned several laurels for the Bank, such as Best Bank for 2010, Best Bank Mid-Size, MSME National Award, etc. He is a strong man-manager and team builder with a firm belief that the leader should be a role model, and that his actions should always be transparent, consistent and predictable. He possesses a quick and rational decision system with a belief that the means are more important than the goals.

Mr. Sridhar Srinivasan– Independent Director

Independent Director

Sridhar is a financial services expert with over 30 years’ experience gained internationally and in India. He was with Citigroup for 28 years and has worked in six countries across Asia, Africa and Europe. Some of the leadership positions he held with Citi included being CEO for three countries, Corporate Bank Head for India, Transaction Services Head for Africa, and Bank Services Group Head for Central, Eastern Europe, Middle East and Africa. Sridhar brings deep emerging markets experience from around the globe. He is currently a Senior Advisor with Oliver Wyman, a leading global management consulting firm, which he joined in early 2013 as a Partner and India Head. He works with CEOs, Boards of Directors and other senior leaders of top Financial Services companies in the region, on topics such as Management Strategy, Risk Management, Client Coverage models, Product and Distribution strategies, Cost Optimisation, and Governance and Regulatory Compliance. Sridhar is a graduate of Delhi University, and is also a Chartered Accountant.