L&T Finance Holdings Ltd. (LTFH) on Saturday said Sudipta Roy will assume the position of MD & CEO of the company with effect from January 24, 2024, subject to necessary regulatory and/or statutory approvals.

LTFH’s Board of Directors announced the appointment of Roy, who joins the non-banking finance company (NBFC) from ICICI Bank, as the company’s Chief Operating Officer (COO).

Roy’s appointment as COO and subsequent elevation as MD & CEO is part of the NBFC’s succession planning.

Dinanath Dubhashi, MD & CEO, LTFH, will superannuate from the Company on April 30, 2024, per a company statement.

“With effect from date of the aforesaid appointment until his superannuation, Dubhashi will continue to be a Director on the Board of the Company to oversee and assist in the smooth transition of leadership,” LTFH said.

Additionally, he will act as the special advisor to the Chairman of the Board during this period.

Dubhashi joined L&T Finance in April 2007. He held various leadership positions before becoming MD & CEO in July 2016.

LTFH said Roy is a consumer banking and payments professional with over 24 years of financial services experience.

At ICICI Bank, he served as Group Head and managed diverse businesses like unsecured assets, cards, payment solutions, student ecosystem, e-commerce and merchant ecosystem, millennial banking and API banking, per the statement.

Before his assignment with ICICI Bank in 2010, he worked for Citibank and Deutsche Bank.

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