In our deal flow development, we tend to be very outbound-oriented and try to stay in active dialogue with promoters in these sectors. Delivered Monday 9am EST/ 6am PST. in Electrical and Electronics Engineering and a MBA from IIT, Delhi. Niall is also the Chairman of the College Council at Glenalmond College and a NED at Non-Standard Finance. Your daily 7am download of all things alternative finance and fintech. Ioannis began his career as a private banker at Coutts & Co. where he looked after high net worth individuals and families from the United Kingdom and abroad. In his spare time Steve doesn't know how to relax, preferring instead a range of strenuous outdoor activities, over-ambitious DIY projects and researching his next gadget purchase. In his spare time, he is either watching sports or playing Golf. In addition to Apollo Global Management, Bhandari led Aion Capital Partners, which is a joint venture between Apollo Global Management and ICICI Bank. But that goes with Apollos DNA, which is a value investor, making contrarian investments in high-grown markets like India, says Mintoo Bhandari, Apollo Managements Senior Partner and MD of its local affiliate AGM India Advisors. Today, the company is well-positioned as one of the most cost-efficient, largest-scale, highest-quality players in the global oil & gas pipeline market. To burn off the calories Ioannis run marathons. Mintoo also has significant experience in customer service and outsourcing industries as a Board Member of Integreon and SourceCorp, among others, and gained exposure to the large-scale consumer service delivery as a Board Member of DishTV India. Mintoo Bhandari (pictured), the head of India for Apollo Global Management, is planning to scale back his involvement at the firm to focus on social impact investing. Prior to founding Monument, Mr. Bhandari was, until early 2018, Senior Partner of Apollo Global Management (NYSE APO) and Senior Partner & Managing Director of Apollos India vehicles: AGM India Advisors Pvt Ltd and AION Capital Partners. Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. The startup bank will target customers with a net worth of between 250,000 ($316,140) and 5m, a segment of the market its founders say is underserved. Copyright 2023 VCCircle.com. With his ability to learn quickly and being a productive and strong team player, he joined Monument to help to build and deliver the next unique experience. Generally, companies in India have very limited flexibility when it comes to designing their capital structures. And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. He is really excited about his role at Monument helping to build and scale a truly modern, digitally enabled bank for our clients. You can email the site owner to let them know you were blocked. He wants to build a more global, more efficient company a genuine market leader and he has many focused, thoughtful ideas on this subject. She brings with her 21 years of financial services and regulated markets experience from ING Direct UK, Friends Life, Aviva and Entain. The . A strong advocate of a fairer financial services market, she sits on the Customer Advisory Board of Fairer Finance. However, it is not as easy as it might sound; its a big challenge and requires substantial effort. London, Copyright The President and Fellows of Harvard College, Harvard T.H. in Mechanical Engineering and earned his MBA at Harvard. Mr. Bhandari is the principal founder and a leading shareholder of London based Monument Bank Limited (Monument) which is a digital-first platform focused on providing financial services (with a Bank of England full-banking license) providing digital access to high-value services and technology solutions in various geographies around the world. Niall was educated at Glenalmond College and at Gonville and Caius College, Cambridge. EC2R 8EJ In his spare time, he pretends to go (and like) boxing. Bhandari has led deals in Avantha Holdings and the buyout of GE Capital Services and Planet cast Media services. So the opportunity to invest in sizeable private companies is much more limited here than it is in many other markets across the globe. People are saying: oh I dont know if I would do a million pound transaction on my phone. This byline is mine, but I want my name removed. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. So, at times, the hardest work is to verify that a company is well-positioned in reality and that it is not just the rising tide that is colouring our perception. Mintoo is a graduate of the Massachusetts Institute of Technology (Mech Eng, S.B. Mintoo Bhandari Active New York, NY Senior Partner for Apollo Global Management, LLC (212)515-3200 Monument Banks app will allow customers to video call and chat with relationship managers, as well as apply for buy-to-let property loans entirely digitally. We think there will be significant benefits to companies if the market has a wide variety of options. And the banks lending will be funded by a range of savings products, from easy access to fixed savers, with Monument taking a quite attractive spread in the middleclassical 1,000-year-old banking is how Bhandari describes it. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Monument Bank founder and chief executive Mintoo Bhandari. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management ("APO" - NYSE). Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. He has been the Chief Finance Officer of the on-line retail bank ING Direct UK and subsequently held Chief Risk Officer positions at Coventry Building Society, Tesco Bank, Kensington Mortgages and the start-up Revver bank. Chan School of Public Health. It actually costs so much more to modernise your technology than build it from scratch, Khouri said. He lives in London, England with his wife and two daughters. She also runs her own business and property development company. 161.97.131.216 Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. "I actually experienced the pain. The action you just performed triggered the security solution. As stone replaced wood, the Citys foundation became stronger. 08 February 2018. Find out more, 1 Poultry, Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. Technical excellence was a key area when we assessed the company. Fiona has a varied portfolio of Non-Executive Director roles including Melton Building Society, Nexa Finance, and VisitEngland. To be a successful investor in India, we believe that you have to have both a good promoter and a fundamentally good business. Khouri compared big banks IT systems to a spaghetti of integration and said Monuments systems were more Lego-like, combining best in class cloud services. Your IP: Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] Globally, Apollo is also very active in credit markets and real estate. The difficult terrains and environments that these pipelines must traverse and the pressures they have to withstand create a very high technical bar that puts a premium on technical excellence. The bank takes its name from the Monument to the Great Fire of London in London, which is colloquially known as simply Monument. In India, we will focus on these sectors because we believe that we can add meaningful value to those and also because we believe that it makes sense here from the perspective of comparative advantage and the economics of the value chain. But an investment firm considering these markets has to develop a carefully tailored strategy for each market, as they are very different. Do you think backing holding companies or a 2-3 promoter group company is a more interesting proposition for larger funds? She holds a degree in Science in Planning and Urban Design from the University of Naples Federico II. A new digital-only bank backed by City of London veterans and targeting the UKs mass affluent is set to launch within months. In his spare time, he is with his young family or serving as Trustee of the European School of Osteopathy. Apollo invests from its $14.7 billion global fund. Works at Study (chess) Lives in Ludhiana, Punjab, India. The ability to execute when others are unable or unwilling to do so is a distinguishing characteristic of Apollo and has been fundamental to the firms long-term success. And we would like to see a minimum of 1 per cent of that amount or roughly $150 million, deployed in every transaction. Financial Services. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management (APO NYSE). How did the transaction come about? One factor that also distinguishes our approach to investing is our focus on value. 9 W 57 St, New York, NY 10019. But, in the grand scheme of things, he is one of the highest-paid rappers of all time per show. In India, among other things, Mr. Bhandari established a strategic partnership with ICICI Bank, Indias largest non-government bank and designed a unique and pioneering fund strategy for investing in buyouts, special credits and distressed assets and led the fundraising of what became the largest PE fund in the country during the period of its launch in 2012. But after a glass of whisky, the fun begins and the guitar is out. Founder of Monument Bank Ltd., Mintoo Bhandari presently is Managing Director at AGM India Advisors Pvt Ltd. Mr. Bhandari is also on the board of SOURCECORP, Inc., Apollo India Private Equity II (Mauritius) Ltd., Welspun Maxsteel Ltd. and Insight Solutions Ltd. She brings a decade of work experience in software product development, application maintenance & support, debugging, troubleshooting, and project execution and believes in continuously applying the best business practices, through innovative technology solutions. Also, what is the sweet spot for your investments? Before joining Apollo in 2006, he had . Multiple digital-first, app-only banks have launched in the UK in recent years but most have targeted ordinary current account holders or businesses. They can raise equity and they can raise senior secured bank debt but there isnt much available in-between. In her spare time, she is enjoying art, food and wine preferably all together! With a career stemming from hospitality (including hotels and serviced offices), she brings a lot of experience in providing excellent service to the team and our visitors. In the Banking industry, Mintoo Bhandari has 83,692 colleagues in 4,890 companies located in 188 countries. About Mintoo Bhandari. For his contributions to Society and to the business community, he was bestowed the PBM (Pingat Bakti Masyarakat The Public Service Medal) by the President of the Republic of Singapore in 2009. Net Worth Growth. These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. In her spare time, Federica loves to go the gym to practice Barre, Yoga and Pilates. London, Here, at Monument, he is doing much of the same, except this time he is also solving a frustration he's personally experienced. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. Information about a company that has been registered at this address is available to us Narindar K Bhandari, LLC. He is also the Chair at Which? People who expect their loyalty to be rewarded and seek the service they deserve. 87) and the Harvard Business School (MBA 92), AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. Ask him about his soup diet. He is also the Vice President of the Dyslexia Association of Singapore, Deputy Chairman of the Board of Trustees and Executive Committee of the Institute of South East Asian Studies (ISEAS). Passionate about customer service, in-app experiences, and creative content that drives engagement, Laura seeks to nurture the best matched brand relationships for Member Services. Instead, the plan is to connect to a customers existing current account, whether with a high street bank or digital challenger, all via the wonders of open banking. Her positivity and energy is vital to our team and her desire to do a good job shines through. The startup bank will target customers with a net worth of between 250,000 ($316,140) and 5m, a segment of the market its founders say is underserved. She was on the Board of SEEDA with responsibility for Business and Tourism as well as being a founder member of the Kent Tourism Alliance, Chair of KM Radio, and one of the Trustees behind the building of the Turner Contemporary Art Gallery in Margate. According to his profile on the Apollo website, Bhandari joined Apollo in 2006 from The View Group which was an India-focussed private equity firm. Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. Historically, when you think about this group, you might think about premier banking, says Bhandari. Helene brings a 30-year career in Financial Services, most recently as CFO at Capital One UK and of European CFO at EVO Payments. He was the Vice-Chairman of the Singapore Business Federation, and Council Member of ASEAN Chamber of Commerce and Industry. Mr. Bhandari is a graduate with distinction of the Massachusetts Institute of Technology (Mech Eng, S.B. Since both your investments are in listed companies, is Apollo Management more focused on PIPEs in India? 4 Ed Sheeran - $2.4 million per show. As a Product Manager at Monument, Ioannis is intent on making financial institutions more than just places to store and access money. Hes also worked at the world's largest university endowment (Harvard University) as an investor and served on the Boards of more than 20 companies across three continents. What do you think of it? He led, developed and oversaw . There will always be rise and fall in transaction volumes in sync with enthusiasm level and capital availability in the markets. But some regulatory changes are required to make this happen. Helene is a Non Executive Director with humm, the UK subsidiary of the consumer and commercial finance Australian-listed group. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. In an exclusive interview with VCCircle, Bhandari speaks about the Welspun investment, Apollos India strategy, his take on the changes in SEBI takeover code and delisting norms, and the countrys credit and real estate market. Apollo never does hostile takeovers; we only do friendly deals. We are fundamentally a value-oriented and often contrarian investor. With 30 years in Financial Services, Steve has seen it all. He actually started his career in Tech and now hes adding the Fin. Age : 57. Property of Mosaic Media Ventures Pvt. Conor is all about tailored lending solutions for you. It is going to take a lot of capital, energy and effort, as well as the right regulatory environment, to build the much-needed infrastructure. She has acquired a strong commercial outlook from senior roles in Strategy, Pricing and Acquisitions & Partnerships. Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. He also has a passion for gardening, although thats not always clear looking at his garden. United Kingdom, Alternative Lending During A Downturn Report, Monument launches market-leading 5-year 2.2% savings rate (if youre wealthy enough), Monument co-founder hands over CEO role to ex-Barclays boss "to scale the bank", New neobank Monument readies for launch after regulator lifts restrictions, Monument Bank founder: Mass affluent banking is our path to profitability in 24 months, New digital bank for the rich Monument secures restricted UK banking licence. With over 20 years of experience, Sudip has built technology platforms for start-ups as well as very established institutions in the UK. Americas +1 212 318 2000. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. If there are additional opportunities and companies that fit these criteria within a promoter group in which Apollo has invested, it obviously is easier to pursue an investment in them as we already have the comfort level and confidence in the promoter and the team. Monument Bank Limited (10921940) is registered in England at 33 Cavendish Square, London, W1G 0PW. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS. Sav is a Dad to two football mad boys; most of his spare time is spent taking them to football training, futsal training and football matches. Andrew has won the Sunday Times award for Non-Executive Director of the Year in the public/not for profit sector. Minda Corp moves competition watchdog for buying stake in rival, Two suitors left as race narrows for TPG's stake in green energy firm, Prolific angel investor Rajesh Sawhney's GSFshown red signal for delayed VC fund, PE firm WestBridge Capital bumps up stake in private lender, Grapevine: Tiger Global exits Freshworks; Cred's Shah taps GIC for new NBFC, World Bank set to launch more robust, transparent business climate rankings, Apollo Globals Mintoo Bhandari takes on advisory role, to move to UK. She is also the co-founder of a female charity network. These are the sectors which Apollo knows well globally and therefore, we are confident of adding value to those here in India. In his spare time, hes watching football and hasnt missed a Wales game in 8 years. In his own words: I can just keep going. Mintoo Bhandari. More recently this has included Chief Architect and Strategy & Architecture Director roles at WorldRemit, a digital remittance FinTech, and Shawbrook Bank a specialist Lending & Savings provider. Meet the mass affluent Sudip holds a B.E. Even in the post-financial crisis world, where banking licences have become somewhat easier to obtain, its still a rare pleasure to meet a banks founder before its even launched. 2020: When five years of digitisation took place in oneOn 1 January 2020, as we welcomed a new year, little did we know how the world would be transformed over the coming months. Mintoo is currently living at 8228 Verbeck Driv, Manlius, NY 13104-9320. We were getting the call centre run around constantly, the [relationship manager] we had originally kept getting changed, the relationship was all one way. Sure, Lil Wayne is way behind Taylor Swift and Beyonc. After graduating, she spent 9 years in operational leadership roles within customer service and mortgage & insurance sales before making the transition to HR. Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. He has vast experience in team building, fund-raising and establishing strategic partnerships, which along with his consumer service and broad management background are key skills to complement the Board. Mr. Bhandari was also previously a member of the private equity team, and later a manager of hedge fund capital, at the Harvard Management Company, which manages the endowment of Harvard University. Cloudflare Ray ID: 7c0e749e1df7382b Having unexpectedly landed in the technology start-up space right after University, Laura has spent 5 years immersed in the world of apps that are designed to enhance the lives of high-net-worth individuals. MUMBAI: Mintoo Bhandari, India head of global private equity fund Apollo Global Management, will relinquish his responsibility of day to day fund management and move to a senior advisory role, said three people with direct knowledge of the development. A risk expert through and through, Martin held senior roles at a variety of large institutions as well as some recent Fintechs. Prior to joining Apollo in 2006, Bhandari was managing director at The View Group. In many such cases, it would be in the best interest of the public shareholders to offer them a fair and clean exit. He has a big vision and great personal drive to achieve a tremendous amount. Others on the management team at Monument have held senior roles at Barclays and UBS. He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. Sav is a Relationship Manager with over 20 years experience in lending, origination and credit. They really didnt appreciate and respect our time. Potential clients include bankers, lawyers, property developers, and doctors. Another entrepreneur in residence. Rand takes the reins from Mintoo Bhandari, current CEO and co-founder, who has led Monument from its inception to the achievement of full banking licence and commercial launch late last year.. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . Performance & security by Cloudflare. The 15 per cent threshold was rather low and I think it had artificially created a differential between investor intent and regulatory burden. Bhandari is a former managing director at US investment giant Apollo Global and is one of a number of high finance veterans associated with the project. He has held CIO positions across investment banks, private banks, brokers and other financial services firms and has led the delivery of complex technology implementations and transformations. More recently, Anita has been focused on supporting digital start-up banks develop and execute their corporate strategy. We have built Monument from the ground up, precisely for this community. He had also worked with Harvard Management Company, which manages the endowment of Harvard University. He has worked on cutting edge, highly interactive applications and advergames on mobile and web platforms with an obsession with writing clean code. This byline is for a different person with the same name. Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. He has published numerous articles and speaks frequently regarding banking, fintech, macro-economic, finance and investment topics. Fintech. Wasim is obsessed with two things: a client-first approach and use of modern technology to deliver our strategy. Aion Capital raised $825 million in 2014 and has deployed the bulk of its corpus from this fund in India. He received an MBA from Maastricht School of Management and a graduate degree from National University of Singapore. Monument is chaired by Niall Booker, a veteran HSBC banker who rescued The Co-Op Bank from the brink of collapse in 2013 after being drafted in as chief executive. Welspuns principal business is the manufacture of large-diameter oil & gas pipes, used to build pipelines for transporting oil & gas, generally over long distances. In India, most companies of any scale are already publicly traded. Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. We believe that the blended entry price we were able to create at Welspun is very compelling and it compares very favourably to other private equity deals done in India over the last decade, he explains. Companies, with as little as a few million dollars in EBITDA, can go public. In his spare time, he will be playing superhero themed Lego. The one thing that they have in common is growth both the economies are likely to grow into the foreseeable future. Prena loves a good K-drama and is ready for an UNO cards challenge at any moment. We believe that the blended entry price we were able to create at Welspun is very compelling and that it compares very favourably to other private equity deals done in India over the past decade. 27,324 executive movements have been recorded in the last 12 months. On the business side, we are looking for businesses that have genuine, sustainable advantages and that we are confident are well-positioned for the long run. Organizzazioni che hanno offerto il loro contributo Agenzia internazionale per l'energia atomica (AIEA), Alliance for Global Water Adaptation (AGWA), AquaFed, Armenian Women for Health and Healthy Environment, Associazione internazionale degli idrogeologi (IAH), Associazione internazionale per l'ingegneria e la ricerca idroambientale (IAHR . Investment Manager and Investor. Minda Corp moves competition watchdog for buying stake in rival, Two suitors left as race narrows for TPG's stake in green energy firm, Prolific angel investor Rajesh Sawhney's GSFshown red signal for delayed VC fund, PE firm WestBridge Capital bumps up stake in private lender, Grapevine: Tiger Global exits Freshworks; Cred's Shah taps GIC for new NBFC, World Bank set to launch more robust, transparent business climate rankings, In India, Apollo Is A Contrarian Investor: Mintoo Bhandari. After starting his career at Price Waterhouse as an auditor, he has worked in retail banking for nearly 25 years. Monument claims to be the first digital challenger in the mass affluent space. Bhandari had initially worked with the Indian government, especially the Ministry of Finance, as part of a Harvard group advising the government during the liberalisation. We think that there will be very attractive opportunities in the arena but they will have to be pursued carefully as the sector still has some challenges ahead. Mintoo has finished Mintoo's high school education. Copyright 2023 VCCircle.com. Meenakshi K Bhandari, Narindar K Bhandari, and seven other persons spent some time in this place. Bhandari said RBSs recent decision to shut its digital challenger bank Bo was a good example of how big banks lack the culture to build these things. He joined Apollo in 2006 in its New York headquarters, worked in the London office and then launched Apollos India advisory firm (AGM India Advisors Pvt Ltd) in Mumbai in 2008 and continued to serve on Apollo related Boards until 2021. As Chief of Staff, Anita drives company-wide progress on critical projects and strategic initiatives. Typically, Apollo will look to invest anywhere between $150 million and $1 billion out of this current global fund. Apollo India Private Equity II (Mauritius) Ltd. A key thread throughout Helenes career is growth and change supporting companies through both internal and external growth, but also coaching and mentoring entrepreneurs and professionals for personal growth and professional development. Currently he is CIO at Bupa, and prior to that he was CIO and subsequently COO at The Co-operative Bank plc where he led a successful technology migration and was a key member of the Executive team which turned the bank around.

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