Mahindra Finance: It's official: Ramganesh Iyer joins Mahindra Finance as Chief Operating Officer

Mahindra & Mahindra Financial Services (MMFSL), the leading non-banking financial company (NBFC) under the Mahindra Group, has announced the appointment of Ramganesh Iyer as its Chief Operating Officer (COO). His appointment, approved by the company's board, will be effective from April 10, 2025. Ramganesh Iyer, also known as Ram, brings over two decades of experience in the financial services sector, with a career spanning management consulting and entrepreneurship. He has spent 12 years in management consulting, most recently serving as a partner at Bain & Company. During his tenure at Bain, Iyer led multiple large-scale projects, working with Indian and multinational financial institutions as well as fintech firms. His expertise covers strategy development, customer-centric transformations, data and analytics initiatives, and due diligence assignments. Beyond his consulting career, Iyer has also made a mark in the entrepreneurial space. He co-founded and scaled two startups in the wealth-tech sector-Fisdom and PARK Financial Advisors-focusing on personal finance, fintech innovations, and lending solutions. His thought leadership in the sector is reflected in multiple reports and articles he has authored on financial services trends. Iyer holds a Post Graduate Diploma in Management from the prestigious Indian Institute of Management (IIM) Ahmedabad, where he was awarded a gold medal for academic excellence. He also holds a B.Tech degree in Electrical Engineering from the Indian Institute of Technology (IIT) Bombay, further establishing his strong analytical and technical foundation. Mahindra Finance, a key player in India's NBFC space, specializes in financing new and pre-owned auto and utility vehicles, tractors, cars, commercial vehicles, and construction equipment. The company is also active in small and medium enterprise (SME) financing, playing a critical role in enabling financial inclusion across urban and rural markets. The appointment of Iyer as COO comes at a time when Mahindra Finance is experiencing significant growth. In Q3 FY25, the company reported a 47.4% increase in its consolidated net profit, reaching Rs 917.57 crore. This was supported by a 16% rise in total income, which stood at Rs 4,815.36 crore compared to the previous year. Despite the strong financial performance, shares of Mahindra Finance declined by 1.26% to Rs 289.25 on the Bombay Stock Exchange (BSE), reflecting broader market trends. With his extensive experience in financial services and deep understanding of digital transformation and strategy, Iyer's appointment as COO is expected to strengthen Mahindra Finance's operational capabilities and drive customer-centric initiatives. His leadership is anticipated to enhance the company's position in the evolving financial services landscape, leveraging technology and data-driven insights to expand its market reach. As Mahindra Finance continues its growth trajectory, Iyer's strategic vision and leadership will play a key role in shaping the company's future in an increasingly digital and customer-focused financial ecosystem.