EMEA +44 20 7330 7500. He has published numerous articles and speaks frequently regarding banking, fintech, macro-economic, finance and investment topics. Mintoo is currently living at 8228 Verbeck Driv, Manlius, NY 13104-9320. Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. Before that, he worked with Harvard Management Company which manages the endowment of Harvard University. 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. An entrepreneur and co-founder, Vikash brings a diverse range of knowledge and experience. 87) and the Harvard Business School (MBA 92). Generally, companies in India have very limited flexibility when it comes to designing their capital structures. Another thing we considered was that Welspun is very well known for its customer service. What were able to do is combine this modern technology with exceptional client service.. We think its a very positive, prudent move. He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. But given the regulatory process and the hurdles today, it is very complicated and somewhat impractical to take a company private in partnership with a promoter group. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. Her experience spans international blue-chip companies in retail and consumer finance, and payments, including 16 years at Visa. Apollo India Private Equity II (Mauritius) Ltd. He is also the Chair at Which? UK challenger Monument lands restricted banking licence 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. 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. His net worth has increased steadily each year. Of course, private equity investments arent done unilaterally. But Bhandari is not worried. We have built Monument from the ground up, precisely for this community. 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. This website is using a security service to protect itself from online attacks. What is less well known is that the Monument was also designed as a landmark scientific instrument a giant telescope to advance knowledge. Enter Mintoo Bhandari, the founder and managing director of Monument, a newly-licenced and freshly-funded digital bank aimed at lending millions to the mass affluent at the touch of a button, all through their mobiles. AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Your daily 7am download of all things alternative finance and fintech. And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. Amit Bhandari, Biourja Trading LLC: Profile and Biography He led, developed and oversaw . Nihar holds a MSc in Finance with Distinction from the University of Strathclyde and BSc in Finance from Pennsylvania State University. All we're doing is saying, come to us for service, come to us for better deposit rates, come to us for complex lending.. They can raise equity and they can raise senior secured bank debt but there isnt much available in-between. More recently, Anita has been focused on supporting digital start-up banks develop and execute their corporate strategy. Mintoo Bhandari OfficialUSA.com Records In the Banking industry, Mintoo Bhandari has 83,692 colleagues in 4,890 companies located in 188 countries. But an investment firm considering these markets has to develop a carefully tailored strategy for each market, as they are very different. He actually started his career in Tech and now hes adding the Fin. 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. Copyright 2023 Surperformance. Copyright 2023 VCCircle.com. Mintoo Bhandari - India Research Center FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS. Helene brings a 30-year career in Financial Services, most recently as CFO at Capital One UK and of European CFO at EVO Payments. In our deal flow development, we tend to be very outbound-oriented and try to stay in active dialogue with promoters in these sectors. Andrew has won the Sunday Times award for Non-Executive Director of the Year in the public/not for profit sector. About Monument Bank Mintoo spent most of his career as an investor, building teams, and developing forward thinking institutions. The Monument in central London is a commemoration of the end of the Great Fire of London and the beginning of the worlds first modern city. DaBaby's reported annual income is more than $500,000 per year and over $45,000 each month. For a year or so before the investment, we were interacting actively interacting with BK Goenka. After graduating, she spent 9 years in operational leadership roles within customer service and mortgage & insurance sales before making the transition to HR. In his spare time, he pretends to go (and like) boxing. Do you see more opportunities during this current uncertainty? To burn off the calories Ioannis run marathons. In his spare time, hes probably fishing (and says its called fishing, not catching, for good reason). He also has a passion for gardening, although thats not always clear looking at his garden. So the opportunity to invest in sizeable private companies is much more limited here than it is in many other markets across the globe. Performance & security by Cloudflare. Conor is all about tailored lending solutions for you. 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. As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work. Apollo never does hostile takeovers; we only do friendly deals. In his spare time, he is with his young family or serving as Trustee of the European School of Osteopathy. Bhandari believes open banking is nowhere near where it will be in the future, but that the technology is in place for Monument to offer a seamless lending and deposit experience, without needing to offer a current account. Which is, you know, a very large sum, but this [mass affluent] community is the most creditworthy segment of the market., Bhandari says Monuments data-driven process of analysing and affirming credit quality will mean the bank has single basis point credit risk, which is almost unheard of.. Buyout Fund Apollo Hires Mintoo Bhandari To Head India Ops The bank takes its name from the Monument to the Great Fire of London in London, which is colloquially known as simply Monument. We bring decades of experience working in leading financial institutions and professional services. We have that in BK Goenka. Bhandari will also step back from his direct leadership role at Aion Capital Partners, a special situations-focused joint venture launched by Apollo and ICICI . She regularly feels the urge to leave the City (and the English weather) behind, travel places and immerse herself in different worlds, landscapes and cultures. Fintech and alternative finance headlines with an exclusive Editor's Note each week. Now, people are saying: actually I would really love that., Senior City Correspondent, Yahoo Finance UK, RBSs recent decision to shut its digital challenger bank Bo, Analysis-Japan's automakers have a made-in-China sales crisis, RPT-GLOBAL MARKETS-Stocks stuck, Aussie dlr surges after RBA surprise, Australian landlords push back on property valuation doomsday, Australia Signals More Tightening After Surprise Rate Hike, Most Japanese shares retreat on banking jitters ahead of Golden Week break. But really, its just burning calories before dinner. Niall was educated at Glenalmond College and at Gonville and Caius College, Cambridge. Mintoo Bhandari - Biography Read more: RBS abandons Monzo-challenger B. The colleagues of Mintoo Bhandari. Monument will also have relationship managers available through voice, video, email, chat and what Bhandari calls co-browsing, where an RM can join you on your smartphone while youre browsing and help advise on a decision. Whilst a risk specialist, Nihars main hobby is building and growing banks. Customers can also track their net worth and source advice on things like property law and inheritance. Instead the mass affluent sit just above the DIY retail market and might need extra service and support to deal with their increasingly complex financial lives. In her spare time, Federica loves to go the gym to practice Barre, Yoga and Pilates. She has acquired a strong commercial outlook from senior roles in Strategy, Pricing and Acquisitions & Partnerships. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management ("APO" - NYSE). Ltd. Get daily update with our newsletter Subscribe Now ! So I believe I can get to breakeven, you know ideally I'd like to do it in the first year, on the outside, it'll be in year two, he says. Cloudflare Ray ID: 7c0e749e1df7382b He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. The reality is that investors are not looking to take over a company just because they would like to hold more than 15 per cent of its equity. Also, Welspun has great leadership and a deep, capable team committed to continuous improvement and accomplishment. First of all, Bhandari is keen to distinguish precisely who Monument Bank is talking about when it refers to the mass affluent. Sure, Lil Wayne is way behind Taylor Swift and Beyonc. Sav started his career at the Bank of Cyprus as a Graduate Trainee where he learnt the fundamentals of good lending and customer first relationship management. Niall is also the Chairman of the College Council at Glenalmond College and a NED at Non-Standard Finance. What do you think of the Indian PE market, compared to the Chinese markets? He was also the Chair of the Risk Committee for Chetwood Financial and helped Equifax go through the FCA Authorisation process following changes in the UK consumer credit regulations. Led by Mintoo Bhandari, CEO, Monument received its "authorisation with restriction" (AWR) banking licence in October 2020. Prior to joining Apollo in 2006, Bhandari was managing director at The View Group. Monument has been in development for 18 months and currently has 12 full-time staff. In her spare time, Helene seeks new experiences and is an arts & art de vivre lover. People who expect their loyalty to be rewarded and seek the service they deserve. Prologo, parte 2: progressi verso l'Obiettivo di sviluppo sostenibile 6 For Bhandari, this is the second stint in Indian private equity space. 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. A decade ago it would have cost billions to deliver the technology solutions that we can deliver for single digit millions, Bhandari said. In addition, AltFi runs major industry events around the world. FOUNDER, HEAD OF GLOBAL INSTITUTIONAL RELATIONSHIPS Mintoo spent most of his career as an investor, building teams, and developing forward thinking institutions. Helene is also a Trustee on the EDHEC Business Schools foundation. Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. He is a past Chairman of the Singapore Indian Chamber of Commerce and currently an Emeritus Chairman. While its 22-month-old investment in Dish TV is currently at 2x, the investment in Welspun Corp has come at nearly 50 per cent premium per share. Wasim is obsessed with two things: a client-first approach and use of modern technology to deliver our strategy. 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. Co-founder, Mintoo Bhandari, will be passing the baton to Ian, and taking up a new role as Global Head of Corporate Development at Monument. Related Story. In love with history (and we hope numbers), Iestyn brings 20 years of diverse experience in Financial Services. 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. Some of the sectors that we focus upon, partially for the reasons I have just mentioned, are chemicals, oil & gas, metals and mining, financial & business services and media distribution. The action you just performed triggered the security solution. Others on the management team at Monument have held senior roles at Barclays and UBS. Mintoo Bhandari - Senior Partner & Managing Director @ Apollo Sav later moved on to Relationship roles at Bank of Scotland, Lloyds and Metro Bank. Summary. Mintoo Bhandari is a Senior Partner & Managing Director at Apollo Global Management LLC. Prerna holds a B-Tech in Computer Science from Visvesvaraya Technological University, India. Mr. Bhandari joined Apollo in 2006. 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. Companies, with as little as a few million dollars in EBITDA, can go public. Sav is a Relationship Manager with over 20 years experience in lending, origination and credit. 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). But we believe that the best promoters are those who put a premium on having the right partner, rather than a placid market. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. He was previously a partner and Group Finance Director at Omni Partners and Amicus Finance, and interim CFO and COO at Cambridge & Counties Bank. Buy-to-let and bridge-to-let are core products that Monument will launch with, designed to appeal to the banks wealthy target audience. Our lending and membership products are not included within the scope of this regulation; for more information, please see the Financial Services Register. 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. In his spare time, Ioannis loves discovering new restaurants to visit with friends and will always try the latest food fad. Mintoo Bhandari from Old Westbury, NY, age 57 | Veriforia Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. London, Steve brings 30+ years of technology management experience to our Board. Technical excellence was a key area when we assessed the company. In his spare time, you might find him working on charitable initiatives or in the gym. 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. 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. It actually costs so much more to modernise your technology than build it from scratch, Khouri said. See Photos. Mintoo Bhandari. Property of Mosaic Media Ventures Pvt. With over 20 years of experience, Sudip has built technology platforms for start-ups as well as very established institutions in the UK. Monument estimates that there are around 3.5 million mass affluent people in Britain with a combined 200bn in cash between them. Vikash is involved in several philanthropic projects, including a previous Board membership of Spirit of 2012, a not-for-profit organisation set up to keep the spirit of the London 2012 Olympic Games alive. 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. Ioannis holds a BA(Hons) in Economics from Durham University. You can email the site owner to let them know you were blocked. We are also looking at different opportunities in real estate space, but are doing so in a very measured manner. He was the Vice-Chairman of the Singapore Business Federation, and Council Member of ASEAN Chamber of Commerce and Industry. What do you think of it? Do you think backing holding companies or a 2-3 promoter group company is a more interesting proposition for larger funds? Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. We and many other private equity firms active in India recognise that there may be an opportunity in providing more flexible financing. With 30 years in Financial Services, Steve has seen it all. Monument appoints former Barclays exec Ian Rand as CEO Mintoo Bhandari - VC DATALAB Very few people know that Federica was also a ballet dancer. He wont tell most people, but he was once known for his inverted iron-cross and similar feats. She joined us from London Executives Offices where she was a Deputy Manager. And if not, you will find him in the theatre with a glass of wine. The acquisition of one of the largest credit operations in India, GE Capital India, through the AION fund and then rebranded Clix Capital. in Electrical and Electronics Engineering and a MBA from IIT, Delhi. All the demands were on us as clients rather than on the bank., READ MORE: Starling Bank seeks 35m in new competition funding: 'We're a safe pair of hands'. And the one thing that India sorely needs to sustain its growth and become more competitive is improved infrastructure. But in your hands, it can become so much more. Also, what is the sweet spot for your investments? 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. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. Created Date: 20211108104240Z . Steve holds a MA Economics from the University of Cambridge. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. I would say that PE investment, in general, is somewhat cyclical. We had heard it from numerous industry participants and we also verified it from some of Welspuns customers that the company produces superior quality pipes. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. The need for technical excellence and reliability was highlighted during the BP oil spill. Mintoo Bhandaris bank is on a mission to help millionaires. We are fundamentally a value-oriented and often contrarian investor. Contact Mintoo, search articles and Tweets, monitor coverage, and track replies from one place. Excerpts: What attracted you to invest in Welspun? Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. PDF Bank CEO announces that Monument achieves full banking licence Apollo's Mintoo Bhandari to step back from India leadership 2 million per show. The start-up evolved out of a belief that the mass affluent have gone "largely unaddressed by the [UK's] challenger bank boom". Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] Mintoo has finished Mintoo's high school education. He is the Honorary Consul of the Republic of Mali in Singapore. "I actually experienced the pain. Mintoo Bhandari, the India head of NYSE-listed alternative assets manager Apollo Global Management, is moving to a senior advisory role within the firm, a person familiar with the development told VCCircle. He lives in London, England with his wife and two daughters. 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. In his spare time, he likes to spend time with his wife and daughter and ride his Harley Davidson as far as he can go. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. 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. At its basics, its banking. We were getting the call centre run around constantly, the [relationship manager] we had originally kept getting changed, the relationship was all one way. Investment Manager and Investor. EC2R 8EJ Having created HSBC Premier in the UK over 20 years ago, Steve readily identifies with and understands our community well and he is obsessed with serving it in the right way. Hes also held roles at Booz & Company and at Sapient as a technologist. 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. Globally, Apollo is also very active in credit markets and real estate. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. Mintoo Bhandari - Fintech Finance Americas +1 212 318 2000. He is the CEO and co-Founder of VAR Capital, a multi-family office focused on investment management and lending. 4 Ed Sheeran - $2.4 million per show. In fact, some customers referred to Welspuns pipes as the gold standard in the industry. There are further proofs of the companys superior technical skills and capabilities. I think the evolution of digital has gone from a 5 or 10 year cycle to a three month cycle, he said.
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