Tata Capital on Thursday announced the appointment of Rajiv Sabharwal as Managing Director and CEO designate of the company.

Sabharwal will be joining Tata Capital in January 2018 and would be taking over from the company’s current Managing Director and CEO Praveen P Kadle, who will be assuming other responsibilities in the Tata Group effective April 1, 2018.

Sabharwal is currently a partner at True North Managers LLP, formerly India Value Fund Advisors. He was an Executive Director on ICICI Bank’s board before joining True North.

N Chandrasekaran, Chairman, Tata Sons, said: “We are delighted that Rajiv is joining the Tata Group. With India’s financial sector growing at a rapid pace, we are confident that his extensive experience will be highly beneficial as we expand our footprint in this industry. Rajiv’s expertise and knowledge will help Tata Capital chart the next phase of growth in financial services.”