Piramal Enterprises (PEL) on Wednesday announced the appointment of Rupen Jhaveri as Group President, with a primary focus on financial services.
“In the newly created role, Jhaveri will be responsible for business development, strategy, M&A, capital allocation and corporate finance,” PEL said in a statement, adding that the appointment is effective January 24, 2022.
He will join PEL from global investment firm KKR where he was a Managing Director at its India private equity team.
Jhaveri’s appointment follows PEL’s announcement in October 2021 that it would demerge its financial services and pharmaceuticals operations, with the objective of simplifying PEL’s corporate structure and unlocking value.
“Jhaveri is just one example of our endeavour to create a world class team that will help PEL become one of India’s largest and most respected financial services institutions,” said Anand Piramal, Executive Director, Piramal Group.
“PEL is extremely well positioned post its ₹18,500 crore capital raise, the recent DHFL acquisition and its significant focus to scale up its digitally led retail franchise,” said Jhaveri.