Spandana Sphoorty Financial Limited has announced that Shalabh Saxena has accepted the roles of Managing Director and CEO of the company.

Presently, Shalabh Saxena is the MD and CEO of Bharat Financial Inclusion, an Indian microfinance institution. He brings with him more than 27 years of experience with multiple financial institutions such as Standard Chartered Bank and Canara HSBC OBC Life Insurance.

Spandana Sphoorty Financial also said that Ashish Damani has accepted the role of president and CEO of the company. He has close to 20 years of experience at Bharat Financial Inclusion and is presently its chief financial officer.

Both Shalabh Saxena and Ashish Damani are expected to join Spandana Sphoorty Financial shortly.

K R Kamath — Spandana Sphoorty Financial Chairman of the Management Committee of the Board said: “With his immense experience in financial services and strong command of the microfinance industry, Shalabh is the right person to lead Spandana.

“Spandana is on a positive growth trajectory, and we are very confident our market leadership will gain further traction under Shalabh’s direction.”

Spandana Sphoorty Financial is a Hyderabad-based rural-focused non-banking financial company and a microfinance lender.

  Ashish Damani, Hyderabad, India, K R Kamath, Shalabh Saxena, Spandana Sphoorty Financial