Non-Banking Finance Company (NBFC) IndoStar Capital Finance (ICFL) has appointed Deep Jaggi as its Chief Business Officer. Jaggi will head all the retail businesses, business development and collections.
Jaggi joins from HDB (a wholly-owned subsidiary of HDFC Bank Ltd), where he was head of asset finance for over 10 years and was responsible for the P&L of commercial vehicles, construction equipment, passenger vehicles and tractor businesses. He has been associated with Cholamandalam Finance and Apollo Tyres in his earlier roles.
“We have defined a clear path to expand portfolio of retail loans for second-hand commercial vehicles and affordable housing. His extensive experience in retail lending will certainly be an asset to IndoStar,” R Sridhar, Executive Vice Chairman and CEO, ICFL said.
IndoStar, promoted by Everstone Group, today is jointly owned and controlled by Brookfield and Everstone.