Poonawalla Fincorp CEO Vijay Deshwal resigns to take up new role

Poonawalla Fincorp Limited (previously Magma Fincorp Limited) said that its CEO Vijay Deshwal has resigned with immediate effect to join the Cyrus Poonawalla Group where he will be overseeing emerging investment opportunities.

According to Poonawalla Fincorp, the company will be led by Abhay Bhutada, the present managing director, who will continue to handle the operational and strategic matters of the company.

It can be noted that Vijay Deshwal, who is a post-graduate from the Indian Institute of Management Ahmedabad (IIMA) and an experienced banker, was appointed as CEO by Magma Fincorp in mid-2021.

Based in Mumbai, Poonawalla Fincorp is a non-banking financial company which provides commercial finance, Agri finance, SME finance, mortgage finance, and general insurance.