mintoo bhandari net worth

A key thread throughout Helenes career is growth and change supporting companies through both internal and external growth, but also coaching and mentoring entrepreneurs and professionals for personal growth and professional development. We are fundamentally a value-oriented and often contrarian investor. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration hes personally experienced. Mintoo graduated from MIT with a S.B. Property of Mosaic Media Ventures Pvt. Fiona has a varied portfolio of Non-Executive Director roles including Melton Building Society, Nexa Finance, and VisitEngland. Apollo has closed two transactions till date since starting its operations $100 million in DTH service provider Dish TV India and $350 million in two Welspun group companies. Mr. Bhandari is also currently active in various charitable and social impact initiatives including serving as Strategic Advisor to Kailash Satyarthi (Awarded Nobel Peace Prize, 2014), and is the Chairman of the UK Kailash Satyarthi Childrens Foundation, co-founder of the Freedom Fellows Scholarship Program and former member of the Finance Committee and Council of Governors of UCL (University College London), one of the leading institutions of higher learning in the UK. In addition, AltFi runs major industry events around the world. The start-up evolved out of a belief that the mass affluent have gone "largely unaddressed by the [UK's] challenger bank boom". Companies, with as little as a few million dollars in EBITDA, can go public. All the demands were on us as clients rather than on the bank., READ MORE: Starling Bank seeks 35m in new competition funding: 'We're a safe pair of hands'. Biography of Mintoo Bhandari - The Official Board Ioannis holds a BA(Hons) in Economics from Durham University. Mintoo Bhandari OfficialUSA.com Records Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. 27,324 executive movements have been recorded in the last 12 months. UK challenger Monument lands restricted banking licence She brings with her 21 years of financial services and regulated markets experience from ING Direct UK, Friends Life, Aviva and Entain. The action you just performed triggered the security solution. I actually experienced the pain myself, Mintoo Bhandari, Monuments chief executive and cofounder, told Yahoo Finance UK. What were able to do is combine this modern technology with exceptional client service.. The Monument in central London is a commemoration of the end of the Great Fire of London and the beginning of the worlds first modern city. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management (APO NYSE). One of the most novel things about Monuments strategy is that the bank doesnt intend to offer its customers a bank card, or indeed a current account at all. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. Do you see more opportunities during this current uncertainty? Mintoo is a graduate of the Massachusetts Institute of Technology (Mech Eng, S.B. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. Hes also our resident sommelier. In his spare time, he is a regular volunteer at his local Mencap charity where he drives the mini-bus for day trips and holidays, and for pleasure he is a keen skier and clay pigeon shooter. United Kingdom, Alternative Lending During A Downturn Report, Revolut and Atom Bank investor slashes fintech valuations, Female Invest: Meet the women taking on the gender finance gap, Gradual homeownership fintech Wayhome raises 8m Series A, Klarna positions itself as more than BNPL with suite of AI-powered tools, ClearBank appoints ex-PayPal and WorldPay exec as new CPO. Market regulator SEBI has recently come out with changes to the takeover code, increasing the open offer limit to 25 per cent. He needs to be focused on creating meaningful value and committed to continuous improvement. Mintoo also has significant experience in customer service and outsourcing industries as a Board Member of Integreon and SourceCorp, among others, and gained exposure to the large-scale consumer service delivery as a Board Member of DishTV India. Apollo invests from its $14.7 billion global fund. Our approach in India is focused on certain sectors. Buy-to-let and bridge-to-let are core products that Monument will launch with, designed to appeal to the banks wealthy target audience. Bhandari is a former managing director at US investment giant Apollo Global and is one of a number of high finance veterans associated with the project. What do you think of it? Fintech and alternative finance headlines with an exclusive Editor's Note each week. A new digital-only bank backed by City of London veterans and targeting the UKs mass affluent is set to launch within months. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . There are very few CEOs in the industry who go out of their way to ensure personally that their customers are happy and BK Goenka is one of them. Prior to joining Apollo in 2006, Bhandari was managing director at The View Group. A busy Dad, in his spare time enjoys the UK live music scene and doing his bit to support emerging artists. If I can summarise what excites us about Welspun, it is the unique combination of positioning and potential. An entrepreneur and co-founder, Vikash brings a diverse range of knowledge and experience. Mintoo Bhandari. January 26 2023. But stay where you are for your current account. Mintoo Bhandari - VC DATALAB Do you have any plan to bring that in India? Prior to that, he spent 7 years at Barclays Wealth in the UK. ( Originally published on Feb 07, 2018 ), Care Hospitals Buyout: Max Healthcare Sues TPG, GST Collections Hit Monthly High of 1.87 L cr in April, Brookfield Picks up 51% in Realty JV with Bharti, Apollo Management India head Mintoo Bhandari moves to advisory role, to focus on philanthropy, Terms of Use & Grievance Redressal Policy. Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. Part of his vision is to improve margins further and he believes that one way to accomplish this is through backward integration, which will lead to greater stability of supply, greater control over quality, better margins and ultimately, as we hope, a more dominant position in the global market. So the opportunity to invest in sizeable private companies is much more limited here than it is in many other markets across the globe. As we are in a hyper-growth environment in India, every company can look well-positioned. In his spare time, you might find him working on charitable initiatives or in the gym. Mintoo Bhandari from Old Westbury, NY, age 57 | Veriforia For Bhandari, this is the second stint in Indian private equity space. Before joining us, Ioannis headed up the innovation efforts for NatWests wealth management businesses, which include the Coutts & Co. and NatWest Premier brands. He is a past Chairman of the Singapore Indian Chamber of Commerce and currently an Emeritus Chairman. Helene is also a Trustee on the EDHEC Business Schools foundation. Mr. Bhandari is the principal founder and a leading shareholder of London based Monument Bank Limited ("Monument") which is a digital-first platform focused on providing financial services (with a Bank of England full-banking license) providing digital access to high-value services and technology solutions in various geographies around the world. What do you think of the Indian PE market, compared to the Chinese markets? He is also Vice President for Law Society of Singapore, Member of Presidential Council for Religious Harmony and a Notary Public and Justice of the Peace. Some of the sectors that we focus upon, partially for the reasons I have just mentioned, are chemicals, oil & gas, metals and mining, financial & business services and media distribution. He actually started his career in Tech and now hes adding the Fin. Lil Wayne Net Worth - How Much Does Lil Wayne Charge Per Show? Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. He joined Apollo in 2006 in its New York headquarters, worked in the London office and then launched Apollos India advisory firm (AGM India Advisors Pvt Ltd) in Mumbai in 2008 and continued to serve on Apollo related Boards until 2021. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. The world is going to get more competitive and efficient, and India must do the same if it is to develop its full potential. Her positivity and energy is vital to our team and her desire to do a good job shines through. Copyright The President and Fellows of Harvard College, Harvard T.H. This website is using a security service to protect itself from online attacks. As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work. She regularly feels the urge to leave the City (and the English weather) behind, travel places and immerse herself in different worlds, landscapes and cultures. In her spare time, Laura enjoys exercising, spending time with her dog Peaches, and, when she isnt cooking - going out to her favourite restaurants with friends. She joined us from London Executives Offices where she was a Deputy Manager. Ltd. Get daily update with our newsletter Subscribe Now ! Delivered Monday 9am EST/ 6am PST. At Monument, he is determined to build a world class, plug-and-play banking platform. Mintoo Bhandari - Senior Partner & Managing Director @ Apollo Whilst a risk specialist, Nihars main hobby is building and growing banks. One of the elements that we look for is the quality and depth of management, which Welspun has in abundance. Now, people are saying: actually I would really love that., Senior City Correspondent, Yahoo Finance UK, RBSs recent decision to shut its digital challenger bank Bo, Analysis-Japan's automakers have a made-in-China sales crisis, RPT-GLOBAL MARKETS-Stocks stuck, Aussie dlr surges after RBA surprise, Australian landlords push back on property valuation doomsday, Australia Signals More Tightening After Surprise Rate Hike, Most Japanese shares retreat on banking jitters ahead of Golden Week break. He claims its with his son; but the jury is out. We see that come to life at work too). These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. The jewel that holds us all together, Federica does so much more than manage our office and all its interactions, both internal and external. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. In his spare time, Ioannis loves discovering new restaurants to visit with friends and will always try the latest food fad. We often say that we want to get compensated in valuation for taking on complexity and for investing in sectors in which other private equity firms have less expertise. In our deal flow development, we tend to be very outbound-oriented and try to stay in active dialogue with promoters in these sectors. And who said fintech is becoming boring? Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. Feike studied Economics and post-graduate Accountancy at the Vrije Universiteit in Amsterdam and he holds a Master of Business Administration degree from Rochester University, New York. But in your hands, it can become so much more. But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. A risk expert through and through, Martin held senior roles at a variety of large institutions as well as some recent Fintechs. In his own words: I can just keep going. People like you, who work hard for their success, and appreciate everything it enables them to do and become. Another thing we considered was that Welspun is very well known for its customer service. But, for now, the ambitious founder is outlining a retail digital banking model quite unlike whats come before. Digital bank for 'mass affluent' set to launch later this year In India, most companies of any scale are already publicly traded. Mintoo Bhandari Founder & Managing Director. Fintech. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. So I believe I can get to breakeven, you know ideally I'd like to do it in the first year, on the outside, it'll be in year two, he says. One factor that also distinguishes our approach to investing is our focus on value. Performance & security by Cloudflare. In his spare time, hes probably assessing the risk of a recent news article if not cooking, wine tasting or wine collecting (he has a level-3 diploma from the Wine & Spirits Education Trust), reading and running. Digital bank for 'mass affluent' set to launch later this year Sav joined Monument as he was drawn to the unique blend of technology with a human touch and he has always wanted to build a robust lending book from the ground up. Today, the company is well-positioned as one of the most cost-efficient, largest-scale, highest-quality players in the global oil & gas pipeline market. It's the largest unserved market opportunity in the world today in financial services, the calmly-spoken founder explains, pointing to people with a net worth of between 250k and 5m (excluding their main property). Investment Manager and Investor. All rights reserved. Currently he is CIO at Bupa, and prior to that he was CIO and subsequently COO at The Co-operative Bank plc where he led a successful technology migration and was a key member of the Executive team which turned the bank around. Having started his career at Lloyds, he joined us from Target Group, where he held CFO and interim CEO positions. Andrew has won the Sunday Times award for Non-Executive Director of the Year in the public/not for profit sector. Minda Corp moves competition watchdog for buying stake in rival, Two suitors left as race narrows for TPG's stake in green energy firm, Prolific angel investor Rajesh Sawhney's GSFshown red signal for delayed VC fund, PE firm WestBridge Capital bumps up stake in private lender, Grapevine: Tiger Global exits Freshworks; Cred's Shah taps GIC for new NBFC, World Bank set to launch more robust, transparent business climate rankings, Apollo Globals Mintoo Bhandari takes on advisory role, to move to UK. To burn off the calories Ioannis run marathons. "I actually experienced the pain. Mintoo Bhandari, the India head of NYSE-listed alternative assets manager Apollo Global Management, is moving to a senior advisory role within the firm, a person familiar with the development told VCCircle. Prologue, partie 2 : les progrs accomplis dans la ralisation de l'ODD 6 Were here for our clients and the level of service they deserve. Conor is all about tailored lending solutions for you. AltFi - Mintoo Bhandari Mintoo is currently living at 8228 Verbeck Driv, Manlius, NY 13104-9320. 3 Bruno Mars - $2.9 million per show. 2020: When five years of digitisation took place in oneOn 1 January 2020, as we welcomed a new year, little did we know how the world would be transformed over the coming months. He has been the Chief Finance Officer of the on-line retail bank ING Direct UK and subsequently held Chief Risk Officer positions at Coventry Building Society, Tesco Bank, Kensington Mortgages and the start-up Revver bank. What is less well known is that the Monument was also designed as a landmark scientific instrument a giant telescope to advance knowledge. Also, what is the sweet spot for your investments? Mintoo Bhandari, a former managing director at Apollo Global Management, is leading the venture alongside Brooker. Sav started his career at the Bank of Cyprus as a Graduate Trainee where he learnt the fundamentals of good lending and customer first relationship management. He lives in London, England with his wife and two daughters. In India, Apollo Is A Contrarian Investor: Mintoo Bhandari The project has drawn funding from City of London veterans including former Panmure Gordon chief executive Ian Axe and London property developer Chris Murray. He is currently in the process of putting together a team in Mumbai. Do you think backing holding companies or a 2-3 promoter group company is a more interesting proposition for larger funds? Others on the management team at Monument have held senior roles at Barclays and UBS. He was the Vice-Chairman of the Singapore Business Federation, and Council Member of ASEAN Chamber of Commerce and Industry. To be active under these conditions, investment firms have to be fundamentals-driven and contrarian. As an academic, Andrews working and non-working time tend to merge. It was absolutely brutal. Your IP: Nihar holds a MSc in Finance with Distinction from the University of Strathclyde and BSc in Finance from Pennsylvania State University. Today, Dababy's reported net worth is around $7 million. Apollo India Private Equity II (Mauritius) Ltd. She also runs her own business and property development company. 87) and the Harvard Business School (MBA 92), AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. We were getting the call centre run around constantly, the [relationship manager] we had originally kept getting changed, the relationship was all one way. Monument has raised 10m in seed funding so far. As stone replaced wood, the Citys foundation became stronger. Niall was educated at Glenalmond College and at Gonville and Caius College, Cambridge. The one thing that they have in common is growth both the economies are likely to grow into the foreseeable future. Click to reveal United Kingdom, Alternative Lending During A Downturn Report, Monument launches market-leading 5-year 2.2% savings rate (if youre wealthy enough), Monument co-founder hands over CEO role to ex-Barclays boss "to scale the bank", New neobank Monument readies for launch after regulator lifts restrictions, Monument Bank founder: Mass affluent banking is our path to profitability in 24 months, New digital bank for the rich Monument secures restricted UK banking licence. In addition, AltFi runs major industry events around the world. While its 22-month-old investment in Dish TV is currently at 2x, the investment in Welspun Corp has come at nearly 50 per cent premium per share. The need for technical excellence and reliability was highlighted during the BP oil spill. Co-founder, Mintoo Bhandari, will be passing the baton to Ian, and taking up a new role as Global Head of Corporate Development at Monument. Ask him about his soup diet. Market swings in the USA directly impact the Indian markets and just like the USA, the velocity of transactions diminishes when there is volatility and downward pressure in the Indian markets. Monument has been in development for 18 months and currently has 12 full-time staff. In many such cases, it would be in the best interest of the public shareholders to offer them a fair and clean exit. In India, Mr. Bhandari was involved with several industrial, media and financial services opportunities, and also formed ARCION, an asset reconstruction company. He led, developed and oversaw . 87) and the Harvard Business School (MBA 92). As Chief of Staff, Anita drives company-wide progress on critical projects and strategic initiatives. Her experience spans international blue-chip companies in retail and consumer finance, and payments, including 16 years at Visa. Monument claims to be the first digital challenger in the mass affluent space. Since both your investments are in listed companies, is Apollo Management more focused on PIPEs in India? We are also looking at different opportunities in real estate space, but are doing so in a very measured manner. Hes also worked at the world's largest university endowment (Harvard University) as an investor and served on the Boards of more than 20 companies across three continents. She was on the Board of SEEDA with responsibility for Business and Tourism as well as being a founder member of the Kent Tourism Alliance, Chair of KM Radio, and one of the Trustees behind the building of the Turner Contemporary Art Gallery in Margate. He is the Honorary Consul of the Republic of Mali in Singapore. But after a glass of whisky, the fun begins and the guitar is out. After graduating, she spent 9 years in operational leadership roles within customer service and mortgage & insurance sales before making the transition to HR. How did the transaction come about? We make better and faster decisions thanks to Anita. At its basics, its banking. He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. In the past Mr. Bhandari was Director & Global Head-Corporate . About Monument Bank You can email the site owner to let them know you were blocked. Our technology leader. Information about a company that has been registered at this address is available to us Narindar K Bhandari, LLC. London, Khouri compared big banks IT systems to a spaghetti of integration and said Monuments systems were more Lego-like, combining best in class cloud services. More recently, Anita has been focused on supporting digital start-up banks develop and execute their corporate strategy. Amit Bhandari, Biourja Trading LLC: Profile and Biography Asia Pacific +65 6212 1000. Mintoo Bhandari (pictured), the head of India for Apollo Global Management, is planning to scale back his involvement at the firm to focus on social impact investing. Mintoo Bhandari's Profile | FinTech Futures, Fintech Finance & News Bhandari is also keen to devote more time to the social sector and will work closely with Nobel laureate Kailash Satyarthi and Harvard Endowment Fund, said the person cited above. We believe that the blended entry price we were able to create at Welspun is very compelling and that it compares very favourably to other private equity deals done in India over the past decade. I think the evolution of digital has gone from a 5 or 10 year cycle to a three month cycle, he said. Hes interacted with almost all new UK entrants as either a regulator, advisor or investor. The bank takes its name from the Monument to the Great Fire of London in London, which is colloquially known as simply Monument. He has a big vision and great personal drive to achieve a tremendous amount. in Electrical and Electronics Engineering and a MBA from IIT, Delhi. Promoters must also be willing to transact in choppy markets. Mintoo Bhandari Chief Executive Officer Monument Bank Limited Bank CEO announces that Monument achieves full banking licence. We have that in BK Goenka. Related Story. He also has a passion for gardening, although thats not always clear looking at his garden. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. Which is, you know, a very large sum, but this [mass affluent] community is the most creditworthy segment of the market., Bhandari says Monuments data-driven process of analysing and affirming credit quality will mean the bank has single basis point credit risk, which is almost unheard of.. Mintoo Bhandari, director with WELSPUN ENTERPRISES LIMITED, is registered with the Ministry of Corporate Affairs (MCA), bearing DIN 00054831. Americas +1 212 318 2000. Ian has worked in finance for over 20 years, most recently leading Business Banking at Barclays, and during his career has developed 2 passions for clients, and the technology that helps them fulfil their ambitions. Apollo never does hostile takeovers; we only do friendly deals. Bhandari said RBSs recent decision to shut its digital challenger bank Bo was a good example of how big banks lack the culture to build these things. Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. In India, among other things, Mr. Bhandari established a strategic partnership with ICICI Bank, Indias largest non-government bank and designed a unique and pioneering fund strategy for investing in buyouts, special credits and distressed assets and led the fundraising of what became the largest PE fund in the country during the period of its launch in 2012. Instead the mass affluent sit just above the DIY retail market and might need extra service and support to deal with their increasingly complex financial lives. But, in the grand scheme of things, he is one of the highest-paid rappers of all time per show. She brings a decade of work experience in software product development, application maintenance & support, debugging, troubleshooting, and project execution and believes in continuously applying the best business practices, through innovative technology solutions. Meenakshi K Bhandari, Narindar K Bhandari, and seven other persons spent some time in this place. And if not, you will find him in the theatre with a glass of wine. In her spare time, Federica loves to go the gym to practice Barre, Yoga and Pilates. Prerna holds a B-Tech in Computer Science from Visvesvaraya Technological University, India. Mintoo Bhandari Active New York, NY Senior Partner for Apollo Global Management, LLC (212)515-3200 Dominique studied Business Administration at BCHE, Brunel University specialising in Economics and International Finance. Steve brings 30+ years of technology management experience to our Board. During his career he has worked as a C++ developer / DBA and Sys Admin, so brings this experience to his current role. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. Founder of Monument Bank Ltd., Mintoo Bhandari presently is Managing Director at AGM India Advisors Pvt Ltd. Mr. Bhandari is also on the board of SOURCECORP, Inc., Apollo India Private Equity II (Mauritius) Ltd., Welspun Maxsteel Ltd. and Insight Solutions Ltd. The 15 per cent threshold was rather low and I think it had artificially created a differential between investor intent and regulatory burden. The next steps that PE investors would like to see in the evolution of the regulatory environment are those that will allow us to help take companies private efficiently. Apollo Global's Mintoo Bhandari takes on advisory role, to move to UK And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. 5 The Rolling Stones - $2. So, at times, the hardest work is to verify that a company is well-positioned in reality and that it is not just the rising tide that is colouring our perception. But really, its just burning calories before dinner. When there is an attractive but complicated and challenging situation, we believe that Apollos investors can get compensated for that complexity as most private equity firms shy away from such situations and generally dont focus on the industries which pose such challenges.