mintoo bhandari net worth

And we would like to see a minimum of 1 per cent of that amount or roughly $150 million, deployed in every transaction. In his spare time, he will be playing superhero themed Lego. Monument Raises Over 28M in Series A Funding Our lending and membership products are not included within the scope of this regulation; for more information, please see the Financial Services Register. Minda Corp moves competition watchdog for buying stake in rival, Two suitors left as race narrows for TPG's stake in green energy firm, Prolific angel investor Rajesh Sawhney's GSFshown red signal for delayed VC fund, PE firm WestBridge Capital bumps up stake in private lender, Grapevine: Tiger Global exits Freshworks; Cred's Shah taps GIC for new NBFC, World Bank set to launch more robust, transparent business climate rankings, In India, Apollo Is A Contrarian Investor: Mintoo Bhandari. Helene brings a 30-year career in Financial Services, most recently as CFO at Capital One UK and of European CFO at EVO Payments. Contact Mintoo, search articles and Tweets, monitor coverage, and track replies from one place. In an exclusive interview with VCCircle, Bhandari speaks about the Welspun investment, Apollos India strategy, his take on the changes in SEBI takeover code and delisting norms, and the countrys credit and real estate market. What do you think of the Indian PE market, compared to the Chinese markets? With a career stemming from hospitality (including hotels and serviced offices), she brings a lot of experience in providing excellent service to the team and our visitors. Which is, you know, a very large sum, but this [mass affluent] community is the most creditworthy segment of the market., Bhandari says Monuments data-driven process of analysing and affirming credit quality will mean the bank has single basis point credit risk, which is almost unheard of.. Copyright 2023 VCCircle.com. So I believe I can get to breakeven, you know ideally I'd like to do it in the first year, on the outside, it'll be in year two, he says. The jewel that holds us all together, Federica does so much more than manage our office and all its interactions, both internal and external. A lifelong Liverpool fan (along with fellow Celt Iestyn) he is basking in glory (for now). He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management ("APO" - NYSE). All rights reserved. As an academic, Andrews working and non-working time tend to merge. Copyright 2023 VCCircle.com. Welspun has produced pipes for some of the most challenging projects in different parts of the world, including pipes for the worlds deepest pipeline project (Independence Trail, Gulf of Mexico), the highest pipeline (Peru LNG) and the heaviest pipeline (Persian Gulf). Nihar holds a MSc in Finance with Distinction from the University of Strathclyde and BSc in Finance from Pennsylvania State University. Download The Economic Times News App to get Daily Market Updates & Live Business News. Hes also held roles at Booz & Company and at Sapient as a technologist. People like you, who work hard for their success, and appreciate everything it enables them to do and become. Even in the post-financial crisis world, where banking licences have become somewhat easier to obtain, its still a rare pleasure to meet a banks founder before its even launched. Mintoo Bhandari - Fintech Finance He is a past Chairman of the Singapore Indian Chamber of Commerce and currently an Emeritus Chairman. 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. He was the CEO who led the turnaround of The Co-operative Bank and prior to that was Group Managing Director at HSBC and CEO of HSBC North America. Feike is a Dutchman who has lived and worked in the UK for 14 years. Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. Monument Bank founder and chief executive Mintoo Bhandari. During his career he has worked as a C++ developer / DBA and Sys Admin, so brings this experience to his current role. With over 20 years of experience, Sudip has built technology platforms for start-ups as well as very established institutions in the UK. 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 . Meenakshi K Bhandari, Narindar K Bhandari, and seven other persons spent some time in this place. Do you think backing holding companies or a 2-3 promoter group company is a more interesting proposition for larger funds? 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. Today, the company is well-positioned as one of the most cost-efficient, largest-scale, highest-quality players in the global oil & gas pipeline market. As we are in a hyper-growth environment in India, every company can look well-positioned. 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. Prologo, parte 2: progressi verso l'Obiettivo di sviluppo sostenibile 6 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. Summary. Initially Monument will focus on lending, with Bhandari outlining ambitious goals, including 8-minute approvals on buy-to-let mortgages of up to 2m. He is currently working on how to improve human judgement in public and private life. Were here for our clients and the level of service they deserve. The 25 per cent threshold seems much more rational. But Bhandari is not worried. Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. This website is using a security service to protect itself from online attacks. She joined us from London Executives Offices where she was a Deputy Manager. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. He is actively involved in social work and is a Patron of the Taman Jurong Citizenship Consultative Committee. Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. After starting his career at Price Waterhouse as an auditor, he has worked in retail banking for nearly 25 years. Prior to joining, he spent most of his career at McKinsey working with clients on strategy, revenue growth management and large digital transformations, specialising in consumer-centric organisations, and the use of data science. The colleagues of Mintoo Bhandari. Mintoo Bhandaris bank is on a mission to help millionaires. Khouri compared big banks IT systems to a spaghetti of integration and said Monuments systems were more Lego-like, combining best in class cloud services. Apollo Global's Mintoo Bhandari takes on advisory role, to move to UK Performance & security by Cloudflare. 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. Manta Bhandari. Mintoo graduated from MIT with a S.B. First of all, Bhandari is keen to distinguish precisely who Monument Bank is talking about when it refers to the mass affluent. He led, developed and oversaw the development of AION, a market-leading credit-focused fund on behalf of Apollo Global Management and its banking partner ICICI. He is the Honorary Consul of the Republic of Mali in Singapore. Copyright 2023 Surperformance. He actually started his career in Tech and now hes adding the Fin. He left Apollo Global Management after nearly 12 years as a Senior Partner and Managing Director, working in New York, London and then successfully setting them up in India. 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Of course, no Welspun pipes were involved but the incident generally sensitised the public to the need for fail-proof, high-quality systems in the oil & gas space. These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. Learn more about Banking. But it isnt always easy, for organisational or other reasons, to pull the trigger when markets are choppy. Do you see more opportunities during this current uncertainty? 2 million per show. We have built Monument from the ground up, precisely for this community. She has acquired a strong commercial outlook from senior roles in Strategy, Pricing and Acquisitions & Partnerships. He was the CRO at HSBC for the retail bank in Europe and latterly for Latin America and held similar roles at Mark & Spencer Money, MBNA, and Standard Chartered Bank. A strong advocate of a fairer financial services market, she sits on the Customer Advisory Board of Fairer Finance. 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. 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. 4 Ed Sheeran - $2.4 million per show. Our technology leader. Lil Wayne Net Worth - How Much Does Lil Wayne Charge Per Show? 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. Close to home, our portfolio companies may not deliver on their potential if the infrastructure does not improve. As a Product Manager at Monument, Ioannis is intent on making financial institutions more than just places to store and access money. Prior to founding Monument, Mr. Bhandari was, until early 2018, Senior Partner of Apollo Global Management (NYSE APO) and Senior Partner & Managing Director of Apollos India vehicles: AGM India Advisors Pvt Ltd and AION Capital Partners. And we are indeed fortunate The reality is that investors are not looking to take over a company just because they would like to hold more than 15 per cent of its equity. He is also Vice President for Law Society of Singapore, Member of Presidential Council for Religious Harmony and a Notary Public and Justice of the Peace. In addition to Apollo Global Management, Bhandari led Aion Capital Partners, which is a joint venture between Apollo Global Management and ICICI Bank. 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. With 30 years in Financial Services, Steve has seen it all. Steve brings 30+ years of technology management experience to our Board. In his spare time, hes watching football and hasnt missed a Wales game in 8 years. But in your hands, it can become so much more. Monument Banks app will allow customers to video call and chat with relationship managers, as well as apply for buy-to-let property loans entirely digitally. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. But that goes with Apollo's DNA, which is a value investor, making contrarian investments in high-grown markets like India, says Mintoo Bhandari, Apollo Management's Senior Partner and MD of its local affiliate AGM India Advisors. Ian has worked in finance for over 20 years, most recently leading Business Banking at Barclays, and during his career has developed 2 passions for clients, and the technology that helps them fulfil their ambitions. Market regulator SEBI has recently come out with changes to the takeover code, increasing the open offer limit to 25 per cent. Meet the mass affluent 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. In his spare time, you will normally find Ian falling off a mountain bike, or a paddle board; or trying to persuade 4 teenagers of the merits of a long family hike on the South Downs. Apollo has closed two transactions till date since starting its operations $100 million in DTH service provider Dish TV India and $350 million in two Welspun group companies. Alex is our Chief Architect. Prior to joining Apollo in 2006, Bhandari was managing director at The View Group. Monument Bank Limited (10921940) is registered in England at 33 Cavendish Square, London, W1G 0PW. Monument claims to be the first digital challenger in the mass affluent space. He brings with him over 30 years of technology experience across a wide range of financial services organisations. I think the evolution of digital has gone from a 5 or 10 year cycle to a three month cycle, he said. Property of Mosaic Media Ventures Pvt. He has worked on cutting edge, highly interactive applications and advergames on mobile and web platforms with an obsession with writing clean code. Technical excellence was a key area when we assessed the company. Minda Corp moves competition watchdog for buying stake in rival, Two suitors left as race narrows for TPG's stake in green energy firm, Prolific angel investor Rajesh Sawhney's GSFshown red signal for delayed VC fund, PE firm WestBridge Capital bumps up stake in private lender, Grapevine: Tiger Global exits Freshworks; Cred's Shah taps GIC for new NBFC, World Bank set to launch more robust, transparent business climate rankings, Apollo Globals Mintoo Bhandari takes on advisory role, to move to UK. She is also the co-founder of a female charity network. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . Fintech. PDF Bank CEO announces that Monument achieves full banking licence He has published numerous articles and speaks frequently regarding banking, fintech, macro-economic, finance and investment topics. Mintoo Bhandari Founder of Monument Bank Limited London, England, United Kingdom 3K followers 500+ connections Join to view profile Monument Harvard Business School About Private Equity, Banking. See Photos. The startup bank will target customers with a net worth of between 250,000 ($316,140) and 5m, a segment of the market its founders say is underserved. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. Buy-to-let and bridge-to-let are core products that Monument will launch with, designed to appeal to the banks wealthy target audience. Whilst a risk specialist, Nihars main hobby is building and growing banks. Delivered Monday 9am EST/ 6am PST. This byline is for a different person with the same name. We believe that the blended entry price we were able to create at Welspun is very compelling and it compares very favourably to other private equity deals done in India over the last decade, he explains. He worked in several digital agencies and has involved in professional teams before joining Monument. In her spare time, she is enjoying art, food and wine preferably all together! For a year or so before the investment, we were interacting actively interacting with BK Goenka. Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] The action you just performed triggered the security solution. What are the sectors that Apollo Management favours? Multiple digital-first, app-only banks have launched in the UK in recent years but most have targeted ordinary current account holders or businesses. Instead the mass affluent sit just above the DIY retail market and might need extra service and support to deal with their increasingly complex financial lives. EMEA +44 20 7330 7500. Sav is a Dad to two football mad boys; most of his spare time is spent taking them to football training, futsal training and football matches. MUMBAI: Mintoo Bhandari, India head of global private equity fund Apollo Global Management, will relinquish his responsibility of day to day fund management and move to a senior advisory role, said three people with direct knowledge of the development. I would say that PE investment, in general, is somewhat cyclical. Before joining Monument, Conor headed up the specialist lending team in London at Arbuthnot & Co and has also held leadership and relationship roles at Metro, AIB, Santander and RBS. At Monument, he is determined to build a world class, plug-and-play banking platform. FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS. Led by Mintoo Bhandari, CEO, Monument received its "authorisation with restriction" (AWR) banking licence in October 2020. About Monument Bank These arent ultra-high net worth individuals, multi-millionaires who might outsource their finances to money managers. 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. Before joining us, Ioannis headed up the innovation efforts for NatWests wealth management businesses, which include the Coutts & Co. and NatWest Premier brands. 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. If hes not training for his next race he is probably talking about it. 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. 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. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. Prerna holds a B-Tech in Computer Science from Visvesvaraya Technological University, India. We are grateful to Mintoo and everyone else involved in getting us to the stage of becoming a fully-licensed UK bank amidst a global pandemic and great economic uncertainty. If I can summarise what excites us about Welspun, it is the unique combination of positioning and potential. 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. Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. Americas +1 212 318 2000. 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. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. And some of its potential can be realised through backward integration and consolidation in a market that is still fragmented and has few focused and committed players. Monument has been in development for 18 months and currently has 12 full-time staff. Another thing we considered was that Welspun is very well known for its customer service.

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