Senior Level realignment at Religare Securities Limited

 

·         Gagan Randev joins as Chief Executive Officer

·         Ashu Madan elevated as the Chief Operating Officer, supporting Gagan in his new role

 

New Delhi, April XX, 2010: Religare Securities Limited, a wholly owned subsidiary and the retail broking arm of Religare Enterprises Limited (REL), a global financial services group, today announced the hire of Gagan Randev as its Chief Executive Officer.

 

In his new role, Gagan Randev will oversee and be responsible for driving Religare’s entire retail broking and capital market lending business. In his role he would be overseeing the equity (both offline and online) business of Religare Securities Limited, commodity broking of Religare Commodities Limited and Capital Market Lending of Religare Finance Limited. Alongside the joining of Gagan, Ashu Madan, the current, President – Equity Broking is being elevated to the role of Chief Operating Officer, Religare Securities Limited and would be overseeing the entire retail equity broking business.

 

Gagan’s management team would compromise Mr. Ashu Madan, COO Religare Securities Limited, Mr. Jayant Manglik, President - Commodities, Religare Commodities Limited and Mr. Sandeep Adhukia, President - Capital Market Finance, Religare Finance Limited.  

 

An MBA from the College of Business, University of Western Illinois, Gagan brings with him more than 19 years of rich experience largely in the Financial Services domain, specifically in the Consumer and Retail Banking, Consumer Finance and the Insurance sector. Prior to joining Religare, Gagan was the former Sr. Vice President & Head – Sales & Distribution, Retail Bank and Head – Royal Wealth Management, ABN AMRO Bank. At ABN AMRO, Gagan was responsible for revenue delivery, contribution, strategy and service delivery across Branch Banking and Royal Wealth Management (NBFC) channels (individual and wealth clients). Gagan in his storied career has also completed stints with TATA AIG Life Insurance, ANZ Grindlays and Citibank.

 

Commenting on the appointment, Mr. Shachindra Nath, Group CEO, Religare Enterprises Limited said, “I am delighted to welcome an industry veteran of Gagan’s caliber to the Religare family. We are extremely confident that with his expertise, Gagan will help further consolidate Religare’s market leading position in the retail broking business and we would be able to bring an alignment between our equity, commodity and capital market finance businesses.”

 

On his appointment, Mr. Randev commented, “It is indeed a privilege to join a dynamic and fast growing group like Religare. I look forward to this challenging assignment of driving one of the mainstays of Religare, its broking business to new heights and taking the business to its next level of growth not just within India but also in other parts of the Asian region.”

 

About Religare Securities Limited - http://www.religaresecurities.com/

Religare Securities Ltd. (“RSL”) is a wholly owned subsidiary of Religare Enterprises Limited (REL) and a market leading securities firm in India. The company offers equity broking services to more than half a million clients using both, offline and online platforms and also offers, depository participant services. RSL is a member of the NSE, BSE, and a depository participant with NSDL and CDSL. RSL employs more than 4300 employees (as on December 31, 2009) and has a wide distribution reach that spans across more than 1800 locations in India.

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About Religare Enterprises Limited - http://www.religare.in   

Religare is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas.  In India, Religare’s largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management.  The group has also pioneered the concept of investments in alternative asset classes such as arts and films .With 10,000 plus employees across multiple geographies, Religare serves over a million clients, including corporates and institutions, high net worth families and individuals, and retail investors

 

Media Contacts:

 

Subhrangshu Neogi Director- Brand & Corporate Communications Religare Enterprises Limited Email: subhrangshu.neogi@religare.in Contact number: T: +91 11 39126165 M: +91 9910993925

Ryan Alan Marshall Senior Manager, Corporate Communications Religare Enterprises Limited Email: ryan.marshall@religare.in Contact number: T: +91 011 39126160 M: +91 9560392631