Motilal Oswal Group Appoints Sukesh Bhowal as Chief Executive Officer

Motilal Oswal Group has announced the appointment of Sukesh Bhowal as the  Chief Executive Officer of Motilal Oswal Home Finance Limited (MOHFL) w.e.f. 14 June 2023. 

Sukesh Bhowal has a rich experience of over 27 years in Business Management, Sales & Distribution, Retail  Lending, Mortgage Lending, Real Estate Lending and Retail Banking. Prior to joining MOHFL, he was  associated with DCB Bank, where he headed the Mortgages, Micro-Mortgages, Construction Finance and  Gold Loans segments and was responsible for starting and scaling up these businesses. He was also  associated with HDB Financial Services, Citibank and HSBC. Sukesh has strong academic credentials of  Bachelor of Technology from IIT Bombay and a PGDM in Finance & Marketing from IIM Lucknow. 

As CEO, he will work closely with Mr Motilal Oswal, Group MD & CEO, MOFSL, to further expand and  enhance the operations of Motilal Oswal Home Finance. 

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Further, the Company has bolstered the management team with the appointment of Mr Shobhit Doru as  Chief Operating Officer (COO), Mr Rajesh Maiya as Chief Business Officer (CBO) and Ms Priyanka  Shrivastav as Head- Human Resource Officer over the last two months. 

Shobhit Doru has a rich experience of around 25 years in Sales, Product, Strategy and Analytics in Mortgage,  SME Lending and LAP product. Previously, he was associated with Bajaj Finserv, where he was Head- Risk of  the SME Business vertical. In his previous stints, he was also associated with Bajaj Housing Finance, Standard  Chartered Bank and IDBI Bank. Shobhit has done an Accelerated Management Program at the Indian School  of Business. 

Rajesh Maiya has a rich experience of around 25 years in Sales & Distribution, Channel Management and  Customer Service. Prior to joining MOHFL, he was associated with Aavas Financiers, where he was National  Sales Manager and was responsible for developing and managing Home loan and LAP business. He was also  associated with ICICI Bank in his previous stint. Rajesh has done PGDM from Mangalore University. 

Priyanka Shrivastav is a management graduate with over 14 years of experience in Human Resource  Development, Learning & Development, Sales & Business Development and Corporate Relationship  Management. Previously, she was Head- Corporate HR and Legal and Compliances at HDFC ERGO General  Insurance. She was also associated with Bharti AXA Life Insurance, Hero Fincorp, Aditya Birla Capital and ICICI  Prudential Life Insurance Company. 

Motilal Oswal Home Finance Limited (MOHFL) is India's leading new-age Housing Finance Company,  registered with the esteemed Reserve Bank of India (RBI). Operating across 12 states in Western, North Central, and Southern India, MOHFL has established itself as a key player in the industry. As one of the  fastest-growing businesses of the Motilal Oswal Group, MOHFL has reported an impressive profit growth of  44% year-on-year in FY23. 

Expressing his enthusiasm, Mr Motilal Oswal, MD & CEO of Motilal Oswal Financial Services, stated, "We  are delighted to welcome Sukesh as our new Chief Executive Officer of the Home Finance business. Further,  the addition of Shobhit, Rajesh & Priyanka will strengthen our Home finance business. The new team and  Sukesh, with their extensive knowledge and proven experience, make an invaluable addition to the Company 

as we pursue our ambitious goals of further expanding and enhancing our home finance operations. We are  eager to leverage the expertise and visionary leadership of Sukesh to unlock exciting new avenues of growth  and capitalize on emerging opportunities in the market." 

Sukesh Bhowal added, "I am immensely grateful and excited to become a part of the Motilal Oswal Group  and to lead its Home Finance business. Leveraging the larger reach and esteemed legacy of the Motilal Oswal  Group, a trusted name in the financial services industry, the Home Finance business caters to affordable  housing space. We aim to provide best-in-class service to our esteemed customer base. India's thriving  housing finance sector presents a significant untapped market for low-cost homes, fuelled by the increasing  demand for housing in tandem with the growing population. We are fully committed to fulfilling the housing  dreams of our people and contributing to the nation's development."

Under the new leadership, MOHFL will embark on a new journey of sustainable growth. About Motilal Oswal Financial Services Limited: 

Motilal Oswal Financial Services Limited (MOFSL) is a leading financial services company in India. Its  comprehensive offerings encompass various capital markets businesses such as Retail broking, Institutional  broking & Investment banking, along with Asset & Wealth Management services, including Asset  Management, Private Equity, and Wealth Management. Additionally, MOFSL engages in Housing Finance  and equity-based treasury investments. With a dedicated workforce of over 10,000 employees, MOFSL  serves a vast clientele of 3.5 million across 3800 cities. The Company manages impressive Assets Under  Management (AUM) worth Rs 3.2 lakh crore.