But really, its just burning calories before dinner. She joined us from London Executives Offices where she was a Deputy Manager. All we're doing is saying, come to us for service, come to us for better deposit rates, come to us for complex lending.. He is the CEO and co-Founder of VAR Capital, a multi-family office focused on investment management and lending. 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. In his spare time, he pretends to go (and like) boxing. Sav is a Relationship Manager with over 20 years experience in lending, origination and credit. 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. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . 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. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. He lives in London, England with his wife and two daughters. Mintoo Bhandari - Fintech Finance Monument is targeting clients worth between 250,000 and 5m, putting it in competition against the likes of HSBC and Barclays. So the opportunity to invest in sizeable private companies is much more limited here than it is in many other markets across the globe. Generally, companies in India have very limited flexibility when it comes to designing their capital structures. In his spare time, hes watching football and hasnt missed a Wales game in 8 years. 161.97.131.216 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. "I actually experienced the pain. Our approach in India is focused on certain sectors. Download The Economic Times News App to get Daily Market Updates & Live Business News. He received an MBA from Maastricht School of Management and a graduate degree from National University of Singapore. About Mintoo Bhandari. A decade ago it would have cost billions to deliver the technology solutions that we can deliver for single digit millions, Bhandari said. The start-up evolved out of a belief that the mass affluent have gone "largely unaddressed by the [UK's] challenger bank boom". Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. 5 The Rolling Stones - $2. But it isnt always easy, for organisational or other reasons, to pull the trigger when markets are choppy. 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. Multiple digital-first, app-only banks have launched in the UK in recent years but most have targeted ordinary current account holders or businesses. Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. With 30 years in Financial Services, Steve has seen it all. We are fundamentally a value-oriented and often contrarian investor. In his spare time, he is either watching sports or playing Golf. Mintoo Bhandari Chief Executive Officer Monument Bank Limited Bank CEO announces that Monument achieves full banking licence. Mr. Bhandari is also currently active in various charitable and social impact initiatives including serving as Strategic Advisor to Kailash Satyarthi (Awarded Nobel Peace Prize, 2014), and is the Chairman of the UK Kailash Satyarthi Childrens Foundation, co-founder of the Freedom Fellows Scholarship Program and former member of the Finance Committee and Council of Governors of UCL (University College London), one of the leading institutions of higher learning in the UK. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management ("APO" - NYSE). The jewel that holds us all together, Federica does so much more than manage our office and all its interactions, both internal and external. In India, Mr. Bhandari was involved with several industrial, media and financial services opportunities, and also formed ARCION, an asset reconstruction company. He actually started his career in Tech and now hes adding the Fin. 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. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration hes personally experienced. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. People are saying: oh I dont know if I would do a million pound transaction on my phone. 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 Monument in central London is a commemoration of the end of the Great Fire of London and the beginning of the worlds first modern city. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. Monument Bank is in the late stages of securing a banking licence and expects to launch later this year. The Covid-19 pandemic upended life as we knew it, crippled global economies and changed how we all . Find out more, 1 Poultry, We have built Monument from the ground up, precisely for this community. FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS Mintoo spent most of his career as an investor, building teams, and developing forward thinking institutions. And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. Mintoo Bhandari - Senior Partner for Apollo Global Management, LLC 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. 87) and the Harvard Business School (MBA 92). 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. What are the sectors that Apollo Management favours? 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. 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 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. In her spare time, Helene seeks new experiences and is an arts & art de vivre lover. 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. Sav later moved on to Relationship roles at Bank of Scotland, Lloyds and Metro Bank. Apollo's Mintoo Bhandari to step back from India leadership Mintoo Bhandari is a Senior Partner & Managing Director at Apollo Global Management LLC. The next steps that PE investors would like to see in the evolution of the regulatory environment are those that will allow us to help take companies private efficiently. 3 Bruno Mars - $2.9 million per show. More recently this has included Chief Architect and Strategy & Architecture Director roles at WorldRemit, a digital remittance FinTech, and Shawbrook Bank a specialist Lending & Savings provider. In his own words: I can just keep going. He is also the Vice President of the Dyslexia Association of Singapore, Deputy Chairman of the Board of Trustees and Executive Committee of the Institute of South East Asian Studies (ISEAS). Bhandari is a former managing director at US investment giant Apollo Global and is one of a number of high finance veterans associated with the project. Vikash is involved in several philanthropic projects, including a previous Board membership of Spirit of 2012, a not-for-profit organisation set up to keep the spirit of the London 2012 Olympic Games alive. 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. United Kingdom, Alternative Lending During A Downturn Report, Revolut and Atom Bank investor slashes fintech valuations, Female Invest: Meet the women taking on the gender finance gap, Gradual homeownership fintech Wayhome raises 8m Series A, Klarna positions itself as more than BNPL with suite of AI-powered tools, ClearBank appoints ex-PayPal and WorldPay exec as new CPO. Prerna joined Monument's mobile team as an Android Developer focused on delivering innovative product features. With over 20 years of experience, Sudip has built technology platforms for start-ups as well as very established institutions in the UK. They can raise equity and they can raise senior secured bank debt but there isnt much available in-between. She holds a degree in Science in Planning and Urban Design from the University of Naples Federico II. 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.. The difficult terrains and environments that these pipelines must traverse and the pressures they have to withstand create a very high technical bar that puts a premium on technical excellence. 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. How does the deal-making environment look? Promoters must also be willing to transact in choppy markets. Our lending and membership products are not included within the scope of this regulation; for more information, please see the Financial Services Register. Excerpts: What attracted you to invest in Welspun? Fintech. Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. 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. What do you think of it? People like you, who work hard for their success, and appreciate everything it enables them to do and become. Historically, when you think about this group, you might think about premier banking, says Bhandari. In her spare time, Laura enjoys exercising, spending time with her dog Peaches, and, when she isnt cooking - going out to her favourite restaurants with friends. The colleagues of Mintoo Bhandari. Mintoo Bhandari is currently associated with Welspun Enterprises Limited appointed as Nominee Director and the paid-up capital Welspun Ente See More. Of course, private equity investments arent done unilaterally. Also, what is the sweet spot for your investments? It is going to take a lot of capital, energy and effort, as well as the right regulatory environment, to build the much-needed infrastructure. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. Partner Investments Number of Partner Investments 1 Jobs Number of Current Jobs 2 Mintoo Bhandari has 2 current jobs as Founder & Managing Director at Monument Bank and Senior Partner & Managing Director at Apollo. This is unfortunate because there are many companies that should not be listed and that would make a greater contribution to the economy if they were operated as private companies. Steve brings 30+ years of technology management experience to our Board. In India, Apollo Is A Contrarian Investor: Mintoo Bhandari Apollo never does hostile takeovers; we only do friendly deals. We have a real estate effort here and a team entirely focused on that sector. 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. We have that in BK Goenka. But Bhandari is not worried. In India, among other things, Mr. Bhandari established a strategic partnership with ICICI Bank, Indias largest non-government bank and designed a unique and pioneering fund strategy for investing in buyouts, special credits and distressed assets and led the fundraising of what became the largest PE fund in the country during the period of its launch in 2012. Instead, the plan is to connect to a customers existing current account, whether with a high street bank or digital challenger, all via the wonders of open banking. Related Story. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. In his spare time, he likes to spend time with his wife and daughter and ride his Harley Davidson as far as he can go. 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.

Houseboat Living In North Carolina, Articles M