IPO-bound Northern Arc Capital has announced the appointment of Ashish Mehrotra as the Managing Director and Chief Executive Officer with effect from April 1, 2022. Prior to this, Mehrotra was the MD & CEO of Niva Bupa Health Insurance.

In a press release, the Chennai-based diversified non-banking finance company (NBFC) said Mehrotra has over 25 years of experience across retail and commercial banking, wealth management, and insurance. Prior to his role as MD & CEO of Niva Bupa Health Insurance, Mehrotra spent over 20 years at Citibank and was previously MD & Retail Bank Head for Citibank India. 

“I am delighted to welcome Ashish Mehrotra as the MD & CEO of Northern Arc Capital. His experience and track record of leading institutions across the BFSI sector will help us envision and execute the strategic roadmap for a Northern Arc 2.0, where we aim to create an organisation with deep competitive moats that will be digital and data driven,” said PS Jayakumar, Non-Executive Independent Director and Chairman, Northern Arc Capital, in the release.

Mehrotra will also serve as the Non-Executive Chairperson of Pragati Finserv — the microfinance subsidiary of Northern Arc Group — and is the member of the board for Northern Arc Investment Managers that operates its alternate investment fund (AIF) and portfolio management service (PMS). 

“I am excited to become a part of Northern Arc’s world-class team that has pioneered business models and holds innovation at the core of its DNA. We will aim to further consolidate our position and scale our market-leading core businesses,” Mehrotra said while commenting on his new role. 

Kshama Fernandes, currently the MD & CEO of Northern Arc Capital, will continue to be a part of the organisation as a Non-Executive Director and designated as Non-Executive Vice Chairperson with effect from April 1, 2022. Fernandes was appointed to the board of Northern Arc with effect from  August 1, 2012. She was recently re-appointed as the Managing Director for a period of three years with effect from April 1, 2020. 

“During my journey at Northern Arc Capital, we have focused on building a robust digital debt platform serving the underserved households and businesses. I am delighted to welcome Ashish Mehrotra as he takes over to build Northern Arc 2.0 into a holistic, technology-first financial services platform,” Fernandes was quoted as saying in the press release.