Bharti Enterprises appointed financial sector veteran Soumen Ghosh as the managing director of its financial services business, which houses the company's general and life insurance business.
“Ghosh will bring his expertise of over 35 years to Bharti's financial services businesses, which houses its insurance ventures”, a company spokesperson told BloombergQuint. Bharti AXA is the conglomerate's joint venture in the general and life insurance space.
'Sam' Ghosh, as he is popularly known, was at the helm of Reliance Capital Ltd. for nine years, before leaving the company in March this year.
Ghosh is expected to strengthen "management processes, business expansion and governance" of the financial services business.
The move comes as the Bharti group plans to “renew its focus on the next phase of growth" in its financial services business, said Bharti Enterprises Chairman Sunil Bharti Mittal, in a media statement issued by the company.
I am confident that Sam's rich and diverse experience in the sector will add immense value to the entire line of businesses.Sunil Bharti Mittal, Chairman, Bharti Enterprises.
Ghosh is said to have been instrumental in expanding Reliance Capital's core business, while divesting some of the non-core assets to shore up finances. He is also said to have been involved in mentoring Anil Ambani's elder son Anmol, who became a board member at Reliance Capital board last year, according to wire agency PTI.
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