Mumbai: Asset reconstruction company Arcil Monday said it has appointed Vinayak Bahuguna CEO and Managing Director.
The appointment has been done after receiving all necessary approval from the Reserve Bank, the company said in a release here today.
Bahuguna has succeeded P Rudran who completed his term in April 2015.
"With the level of mounting assets under stress, challenging yet exciting times lie ahead for the asset reconstruction industry," Bahuguna said.
"Bahuguna's joining as the new CEO and Managing Director will strengthen our relationship and business with financial institutions (FIs) and stakeholders. I see good times ahead for Arcil in assisting banks and FIs with appropriate resolution strategies for pools of distressed assets and backing it with capital solutions and investment," Arcil's Chairperson Soundara Kumar said.
A chartered accountant by profession, Bahuguna has over two-and-a-half decades of experience across corporate banking, distress debt investment and asset management functions, with reputed global banks.
Prior to Asset Reconstruction Company (India) Ltd (Arcil), he was managing his own consulting firm, advising corporates for operational restructuring and raising capital.
PTI
First Published: Monday, June 15, 2015, 15:31