Board of Directors

Mr. Gautam Kaji

Mr. Gautam Kaji

Independent Director

In a career spanning almost 30 years in economic and development policy formulation and implementation with the World Bank, Mr. Kaji played a key role in helping the institution meet the development needs of its more than 180 member nations. In the process, he earned a worldwide reputation as a leading expert on global economic and financial issues.

When he left the World Bank in November 1997, Mr. Kaji was Managing Director for Operations, with specific responsibility for the institution's programs in Asia and Africa. He also chaired the Bank-wide Operations Committee, which reviews all projects put forward for Bank support and served as co-chair of the Private Sector Development Group, which encompasses the work of the Bank's private-sector affiliates, IFC and MIGA, as well as the IBRD itself. In addition, he was a member of the Bank's Executive Committee, the core senior management team guiding the strategic direction of the institution. Earlier, Mr. Kaji served in various senior managerial positions with the Bank - including in Africa, Europe and the Middle East, and as Director for Human Resources.

Prior to his appointment as Managing Director in 1994, he was the Bank's Vice President for Operations in East Asia and the Pacific - a region with which he was closely involved for well over a decade. This involvement has allowed him to develop a keen insight into the social, institutional and political considerations that influence practical policy formulation and implementation throughout Asia. He continues to maintain close personal contact with the senior policy makers and business leaders within and outside the region. He also sits on the board of several companies, including Centennial Group Inc and Emerging Markets Forum.

Before joining the World Bank, Mr. Kaji worked for a number of years in the commercial banking sector in India, Hong Kong, the United Kingdom, and the United States. He has an MBA from the Wharton School of Finance.

Ritu Anand

Ms. Ritu Anand

Independent Director

Ms. Ritu Anand has served as Group Head, Chief Economist and Principal Advisor at IDFC Limited. Ms. Anand has over 35 years of extensive experience in working with financial institutions, multilateral development agencies and government and regulatory authorities in the areas of economics and public policy.

She served as Chief Economic Advisor and Deputy Managing Director of State Bank of India. Ms.Anand served as the Lead Economist at World Bank, Washington DC, U.S.A.

She serves as member of the advisory board of the Aston Business School, University of Aston, Birmingham, UK and is also a part of the Governing Council of the CUTS Institute of Regulation and Competition. Ms. Anand holds a Masters degree in Economics from the London School of Economics and Bachelor degree in Arts from Wellesley College, Massachusetts and St. Xavier's College, Mumbai.

Sunil Kakar

Mr. Sunil Kakar

Nominee Director of IDFC Limited

Mr. Sunil Kakar is the Managing Director & CEO of IDFC Limited. He started his career at Bank of America where he worked for 18 years in various roles, covering Business Planning & Financial Control, Branch Administration and Operations, Market Risk Management, Project Management and Internal Controls.

As a CFO from 1996 to 2001, Mr. Kakar spearheaded the Finance function at Bank of America in India. After Bank of America, Mr. Kakar was the CFO at Max New York Life Insurance Company since 2001. He led numerous initiatives including Planning, Investments / Treasury, Finance and Accounting, Budgeting and MIS, Regulatory Reporting and Taxation. As part of the start-up team in Max New York Life, Mr. Kakar was a key part of core group which led the successful development of the insurance business.

He joined IDFC in 2011 as the Group Chief Financial Officer and was responsible for Finance & Accounts, Business Planning and Budgeting, Investor Relations, Resource Raising and IT. He was also a member of IDFC Group’s Management Committee. After the demerger of IDFC Ltd and IDFC Bank, he moved to the bank as one of the founding members that led the transition of IDFC into a universal bank. He was a member of the Executive Committee of the bank and led Strategic Planning & Budgeting, Finance & Accounts and Investor Relations at IDFC Bank. Mr. Kakar holds an MBA in Finance from XLRI and a degree in engineering from IIT Kanpur.

Pavan Pal Kaushal

Mr. Pavan Pal Kaushal

Nominee Director of IDFC Limited

Mr. Pavan Pal Kaushal is the Chief Risk Officer of IDFC Limited. He has over 30 years of experience working in the Banking & Financial Industry & consulting sectors, covering the entire gamut of risk function, in both domestic & global roles.

Prior to joining IDFC, Mr. Kaushal was responsible for leading the Financial Services Risk Practice in EY (Ernst & Young), covering Credit Risk, Operational Risk, Market Risk, Corporate & Treasury Risk Management & Quantitative Advisory Services.

In his earlier stint with ANZ, he was Head of Commercial Credit Risk for the Asia Pacific region, followed by being the Chief Risk Officer for India.

Prior to joining ANZ, Mr Kaushal worked at Citibank across multiple markets in senior leadership roles, both in the Global Corporate & Investment Bank & the Global Consumer Bank. He has substantial experience across various areas of risk management.

Mr. Kaushal holds a Masters in Finance from Jamnalal Bajaj Institute of Management Studies & an A.C.A. in Accountancy & Finance from the Indian Institute of Chartered Accountants.

Suresh Menon

Mr. Suresh Menon

Nominee Director of HDFC Limited

Mr. Suresh Menon is the Member of Executive Management of HDFC Limited and is responsible for Policy Implementation and Process of Monitoring, Internal Audit and Information Technology – User Support Group. He has been associated with HDFC Limited since 1984. He is a member of the Risk Management Committee of HDFC Limited and a Director on the Board of HDFC Property Ventures Limited. He was also deputed as the CEO of HDFC General Insurance Company in 2007-2008.

He is currently co-ordinating the consultancy and training assignments with Sarana Multigriya Finansial - Indonesia which is a mortgage refinance company set up by Central Bank of Indonesia. He is also a member of the core faculty at the Frankfurt School of Finance and Management, Germany – Housing Finance Summer Academy.

Mr. Menon holds a Bachelor’s degree in Commerce and a Master’s degree in Business Administration.