NEW DELHI: Mahindra & Mahindra Financial Services (Mahindra Finance) on Wednesday said it has appointed Raul Robello as its new chief operating officer with immediate effect.
Robello's appointment comes after the movement of Rajnish Agarwal to Mahindra Rural Housing Finance (MRHFL), Mahindra Finance said in a statement.
Prior to joining Mahindra Finance, Robello was associated with Axis Bank as EVP & Head-Rural Lending & Financial Inclusion.
A career banker with nearly two decades of experience in rural banking and financial inclusion, Robello is credited with several transformational tasks such as digital initiatives and paperless loans for low income households as well as launching phygital tools.
"As we work very deep into the rural market, the next 3-4 years could really be critical with a good rural bounce back, capitalising on all emerging opportunities in the rural market."
"We are broad-basing our management team to be able to handle all our new initiatives to really go deeper and make the rural market bigger for us," Ramesh Iyer, Vice-Chairman and Managing Director, Mahindra Finance said.
Robello said he sees significant potential in the combination of his core business expertise and Mahindra Finance's resident knowledge and people.
Part of the Mahindra group, Mahindra Finance is a non-banking finance company focussed on rural and semi-urban sector.
It is mainly engaged in providing vehicle and tractor financing, loan to SMEs, besides offering fixed deposits.