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IDFC Ltd has appointed Ajay Mahajan as the Group Head of New Initiatives with a particular focus on asset diversification. Ajay will report to IDFC Executive Chairman Rajiv Lall.
Mahajan has 23 years of experience in the banking and financial industry. He started his career with Bank of America in the 1990s and rose to the rank of a Managing Director.
He set up his own ventures FICC Capital, and R-square advisers, which operated in the space of providing quant-oriented risk management, fixed income and credit modelling solutions to clients.
Prior to setting up his entrepreneurial ventures, Ajay played a crucial role in setting up UBS’s banking business in India as MD, Head — FICC & Institutional Banking. Ajay also had a stint of over four years at YES Bank where he was responsible for Financial Markets, Financial Institutions and Investment Management functions.
Ajay served as a director on the Board of Fixed Income, Money Markets and Derivatives Association of India (FIMMDA), promoted by banks and financial institutions to facilitate the development of securities and derivatives markets in India.
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