New Delhi: Financial services firm IIFL Securities Limited on Friday said it has appointed Nemkumar H as managing director for five years.
He will succeed R Venkatraman, currently Chairman and Managing Director, with effect from May 15, 2024.
The said appointment is subject to requisite regulatory and shareholders' approvals, IIFL Securities said in a regulatory filing.
It said Venkataraman's tenure as managing director is set to expire on May 14, 2024, and he has decided not to seek renewal of his tenure.
However, Venkataraman will remain on the company's board as chairman and non-executive director.
Nemkumar, who is currently a whole-time director on the board, joined IIFL Group in 2007. Before joining IIFL, he spent nearly ten years at CLSA India as an Equity Analyst, as Head of Research and in his last role as Country Head.
Nemkumar said, the company's strong entrepreneurial culture will enable it to further strengthen its competitive position and take advantage of the huge opportunity that India offers.
Additionally, the company has also appointed Narendra Jain as whole-time director for a tenure of next five years.
He will succeed R Venkatraman, currently Chairman and Managing Director, with effect from May 15, 2024.
The said appointment is subject to requisite regulatory and shareholders' approvals, IIFL Securities said in a regulatory filing.
It said Venkataraman's tenure as managing director is set to expire on May 14, 2024, and he has decided not to seek renewal of his tenure.
However, Venkataraman will remain on the company's board as chairman and non-executive director.
Nemkumar, who is currently a whole-time director on the board, joined IIFL Group in 2007. Before joining IIFL, he spent nearly ten years at CLSA India as an Equity Analyst, as Head of Research and in his last role as Country Head.
Nemkumar said, the company's strong entrepreneurial culture will enable it to further strengthen its competitive position and take advantage of the huge opportunity that India offers.
Additionally, the company has also appointed Narendra Jain as whole-time director for a tenure of next five years.
