Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] All rights reserved. But after a glass of whisky, the fun begins and the guitar is out. According to his profile on the Apollo website, Bhandari joined Apollo in 2006 from The View Group which was an India-focussed private equity firm. Mintoo graduated from MIT with a S.B. Aion Capital raised $825 million in 2014 and has deployed the bulk of its corpus from this fund in India. But that goes with Apollo's DNA, which is a value investor, making contrarian investments in high-grown markets like India, says Mintoo Bhandari, Apollo Management's Senior Partner and MD of its local affiliate AGM India Advisors. (212) 515-3200. He worked in several digital agencies and has involved in professional teams before joining Monument. 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. Property of Mosaic Media Ventures Pvt. If I can summarise what excites us about Welspun, it is the unique combination of positioning and potential. 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. And the banks lending will be funded by a range of savings products, from easy access to fixed savers, with Monument taking a quite attractive spread in the middleclassical 1,000-year-old banking is how Bhandari describes it. All we're doing is saying, come to us for service, come to us for better deposit rates, come to us for complex lending.. Ioannis began his career as a private banker at Coutts & Co. where he looked after high net worth individuals and families from the United Kingdom and abroad. Hes built, led and transformed businesses at HSBC, The Co-operative Bank (working on their well-publicised transformation) and the fintech, 10x Future Technologies. Its also an audience that Bhandariwith his 25+ years of experience in private equity across Mumbai, New York and Londonknows well. Promoters must also be willing to transact in choppy markets. Laura holds a BA(Hons) in Public Relations from Bournemouth University. Mintoo Bhandari Chief Executive Officer Monument Bank Limited Bank CEO announces that Monument achieves full banking licence. He is currently working on how to improve human judgement in public and private life. Prior to founding Monument, Mr. Bhandari was, until early 2018, Senior Partner of Apollo Global Management (NYSE APO) and Senior Partner & Managing Director of Apollos India vehicles: AGM India Advisors Pvt Ltd and AION Capital Partners. So a lot of large institutions either retreated from the space or never really got adequate traction., The exception, in Bhandaris mind, is a particular well-known American credit card company that he praises for doing an excellent job in the space, but I think their model is still stuck in the 1980s and 1990s.. Mr. Bhandari joined Apollo in 2006. You can email the site owner to let them know you were blocked. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. He has published numerous articles and speaks frequently regarding banking, fintech, macro-economic, finance and investment topics. We have a real estate effort here and a team entirely focused on that sector. But an investment firm considering these markets has to develop a carefully tailored strategy for each market, as they are very different. Anita is a member of Women on Boards UK and holds a BSc degree in Psychology from the University of Durham. He was previously a partner and Group Finance Director at Omni Partners and Amicus Finance, and interim CFO and COO at Cambridge & Counties Bank. At Monument, he is determined to build a world class, plug-and-play banking platform. But Bhandari is not worried. 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. Copyright 2023 VCCircle.com. January 26 2023. And we would like to see a minimum of 1 per cent of that amount or roughly $150 million, deployed in every transaction. ( 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. Copyright 2023 VCCircle.com. Property of Mosaic Media Ventures Pvt. Dominique studied Business Administration at BCHE, Brunel University specialising in Economics and International Finance. 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. And we are indeed fortunate In India, most companies of any scale are already publicly traded. 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. The firm has appointed Mintoo Bhandari to head the India operations, who was till now a partner at the UK unit of Apollo Management. In her spare time, Federica loves to go the gym to practice Barre, Yoga and Pilates. Net Worth Growth. London, An entrepreneur and co-founder, Vikash brings a diverse range of knowledge and experience. The action you just performed triggered the security solution. He has held CIO positions across investment banks, private banks, brokers and other financial services firms and has led the delivery of complex technology implementations and transformations. Having started his career at Lloyds, he joined us from Target Group, where he held CFO and interim CEO positions. Less classical is how Monument will operate, by harnessing the growing power of open banking. One of the factors fundamental to the investments which we pursue in India is that we seek to ensure that the promoter we are backing has a vision similar to ours. Mintoo Bhandari Founder of Monument Bank Limited London, England, United Kingdom 3K followers 500+ connections Join to view profile Monument Harvard Business School About Private Equity, Banking. These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. In his spare time Steve doesn't know how to relax, preferring instead a range of strenuous outdoor activities, over-ambitious DIY projects and researching his next gadget purchase. 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. Delivered Monday 9am EST/ 6am PST. 9 W 57 St, New York, NY 10019. 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. Monument estimates that there are around 3.5 million mass affluent people in Britain with a combined 200bn in cash between them. Passionate about customer service, in-app experiences, and creative content that drives engagement, Laura seeks to nurture the best matched brand relationships for Member Services. Click to reveal People like you, who work hard for their success, and appreciate everything it enables them to do and become. Steve brings 30+ years of technology management experience to our Board. But, in the grand scheme of things, he is one of the highest-paid rappers of all time per show. He was also the Chair of the Risk Committee for Chetwood Financial and helped Equifax go through the FCA Authorisation process following changes in the UK consumer credit regulations. The need for technical excellence and reliability was highlighted during the BP oil spill. She holds a degree in Science in Planning and Urban Design from the University of Naples Federico II. Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. But, for now, the ambitious founder is outlining a retail digital banking model quite unlike whats come before. 3 Bruno Mars - $2.9 million per show. In his spare time, he pretends to go (and like) boxing. Iestyn also supports the worlds greatest rugby nation, which for those outside Wales, is Wales. Steve holds a MA Economics from the University of Cambridge. Wasim holds a MEng in Electrical and Electronic Engineering from Imperial College, London. Another thing we considered was that Welspun is very well known for its customer service. He led, developed and oversaw the development of AION, a market-leading credit-focused fund on behalf of Apollo Global Management and its banking partner ICICI. In his spare time, you would find him in a photography gallery or a museum with his camera on his shoulder or developing his analogue films at home. He led, developed and oversaw . But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. In his own words: I can just keep going. His past non-executive directorships include the Bank of England and Barclays plc and he is currently the senior national independent director of Times Newspapers Holdings Ltd and a director of quoted insurance Lloyds underwriter Beazley plc. What are the sectors that Apollo Management favours? Fundamentally that slashes Monuments cost base, and positions the bank more as a high-touch property lender than a jack-of-all-trades current account provider. Technical excellence was a key area when we assessed the company. Before joining us, Ioannis headed up the innovation efforts for NatWests wealth management businesses, which include the Coutts & Co. and NatWest Premier brands. This website is using a security service to protect itself from online attacks. This is unfortunate because there are many companies that should not be listed and that would make a greater contribution to the economy if they were operated as private companies. More recently this has included Chief Architect and Strategy & Architecture Director roles at WorldRemit, a digital remittance FinTech, and Shawbrook Bank a specialist Lending & Savings provider. Mintoo Bhandari is a Senior Partner & Managing Director at Apollo Global Management LLC. Ltd. Get daily update with our newsletter Subscribe Now ! Welspuns principal business is the manufacture of large-diameter oil & gas pipes, used to build pipelines for transporting oil & gas, generally over long distances. He was a Term Trustee in Singapore Indian Development Association (SINDA) for a period of 12 years. The project has drawn funding from City of London veterans including former Panmure Gordon chief executive Ian Axe and London property developer Chris Murray. 2 million per show. 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. 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. He wont tell most people, but he was once known for his inverted iron-cross and similar feats. Also, what is the sweet spot for your investments? "I actually experienced the pain. With over 20 years of experience, Graham has worked as Operations Manager at Thomson Reuters and Alibaba and brings his wealth of experience to Monument. The report said that Kalpesh Kikani and Parth Gandhi will lead the Apollo and Aion Capital teams in India. Typically, Apollo will look to invest anywhere between $150 million and $1 billion out of this current global fund. Iestyn holds a BA in History from Aberystwyth University, an MBA from University of Warwick Business School and (of course) is a qualified accountant. In addition to Apollo Global Management, Bhandari led Aion Capital Partners, which is a joint venture between Apollo Global Management and ICICI Bank. Apollo Global Management LLC, the $70 billion alternative asset management giant, started its private equity operations in India, just around the time of the global financial meltdown during September 2008. He actually started his career in Tech and now hes adding the Fin. EC2R 8EJ If there are additional opportunities and companies that fit these criteria within a promoter group in which Apollo has invested, it obviously is easier to pursue an investment in them as we already have the comfort level and confidence in the promoter and the team. Wasim is obsessed with two things: a client-first approach and use of modern technology to deliver our strategy. Mintoo Bhandari. The startup bank will target customers with a net worth of between 250,000 ($316,140) and 5m, a segment of the market its founders say is underserved. There are a few notable exceptions, though, such as telecom towers, power, infrastructure and real estate, in which there are sizeable private companies and these sectors do appear to be in need of significant private equity over the coming years. For Bhandari, this is the second stint in Indian private equity space. 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. In his spare time, you will normally find Ian falling off a mountain bike, or a paddle board; or trying to persuade 4 teenagers of the merits of a long family hike on the South Downs. 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. In his spare time, hes probably fishing (and says its called fishing, not catching, for good reason). We have built Monument from the ground up, precisely for this community. The Economic Times, which reported the development earlier on Wednesday, said Bhandari would continue to . Do you have any plan to bring that in India? Apollo never does hostile takeovers; we only do friendly deals. Much of what Bhandari describes is unproven, and hes frank that the banks plans will certainly change and evolve as it comes to market. These are the sectors which Apollo knows well globally and therefore, we are confident of adding value to those here in India. People who expect their loyalty to be rewarded and seek the service they deserve. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. Performance & security by Cloudflare. She also runs her own business and property development company. Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. We are also exploring and evaluating the credit markets in India. For Bhandari, this is the second stint in Indian private equity space. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. 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. To be active under these conditions, investment firms have to be fundamentals-driven and contrarian. Monument has been in development for 18 months and currently has 12 full-time staff. Andrew has won the Sunday Times award for Non-Executive Director of the Year in the public/not for profit sector. It is going to take a lot of capital, energy and effort, as well as the right regulatory environment, to build the much-needed infrastructure. Conor is all about tailored lending solutions for you. He is also the Vice President of the Dyslexia Association of Singapore, Deputy Chairman of the Board of Trustees and Executive Committee of the Institute of South East Asian Studies (ISEAS). He has vast experience in team building, fund-raising and establishing strategic partnerships, which along with his consumer service and broad management background are key skills to complement the Board. He is helping to build a world class, plug-and-play banking platform at Monument. But really, its just burning calories before dinner. Market regulator SEBI has recently come out with changes to the takeover code, increasing the open offer limit to 25 per cent. Rand takes the reins from Mintoo Bhandari, current CEO and co-founder, who has led Monument from its inception to the achievement of full banking licence and commercial launch late last year.. 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. As we are in a hyper-growth environment in India, every company can look well-positioned. He also has a passion for gardening, although thats not always clear looking at his garden. Partner Investments Number of Partner Investments 1 Jobs Number of Current Jobs 2 Mintoo Bhandari has 2 current jobs as Founder & Managing Director at Monument Bank and Senior Partner & Managing Director at Apollo. But given the regulatory process and the hurdles today, it is very complicated and somewhat impractical to take a company private in partnership with a promoter group. 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'. Welspun has produced pipes for some of the most challenging projects in different parts of the world, including pipes for the worlds deepest pipeline project (Independence Trail, Gulf of Mexico), the highest pipeline (Peru LNG) and the heaviest pipeline (Persian Gulf). It was absolutely brutal. About Mintoo Bhandari. The one thing that they have in common is growth both the economies are likely to grow into the foreseeable future. Hes interacted with almost all new UK entrants as either a regulator, advisor or investor. Bhandari is also on the board of directors of Welspun Corporation where Apollo invested $350 million in 2011. At its basics, its banking. He has worked on cutting edge, highly interactive applications and advergames on mobile and web platforms with an obsession with writing clean code. Monument Bank is in the late stages of securing a banking licence and expects to launch later this year. In his spare time, Ioannis loves discovering new restaurants to visit with friends and will always try the latest food fad. A decade ago it would have cost billions to deliver the technology solutions that we can deliver for single digit millions, Bhandari said. In her banking career, Fiona worked for Barclays, Daiwa Europe Bank, NatWest Capital Markets and most recently, Goldman Sachs. One of the characteristics which attracted us to Welspun is that it operates at the intersection of two of our larger focus areas metals and oil & gas. Apollo Management's real estate investment arm, Apollo Real Estate Advisors, currently runs a $650 million real estate private equity fund in . India and China are probably the most important emerging markets in the world. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration he's personally experienced. Information about a company that has been registered at this address is available to us Narindar K Bhandari, LLC. He had also worked with Harvard Management Company, which manages the endowment of Harvard University. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. Read more: RBS abandons Monzo-challenger B. Dominique believes that her interchangeable experience has been invaluable and helps her to provide meaningful strategic partnering to the business. Fiona has a varied portfolio of Non-Executive Director roles including Melton Building Society, Nexa Finance, and VisitEngland. Her positivity and energy is vital to our team and her desire to do a good job shines through. She joined us from London Executives Offices where she was a Deputy Manager. 161.97.131.216 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. Bhandari said he was not fazed at the prospect of launching a new bank in the midst of a pandemic. Dubai Investments Acquires Stake in Monument Bank, UK based Digital Bank. Age : 57. When it launches in the Summer of 2021, the bank will provide savings . Monument is targeting clients worth between 250,000 and 5m, putting it in competition against the likes of HSBC and Barclays. Asia Pacific +65 6212 1000. 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. As a Product Manager at Monument, Ioannis is intent on making financial institutions more than just places to store and access money. Customers can also track their net worth and source advice on things like property law and inheritance. We think its a very positive, prudent move. How does the deal-making environment look? In his spare time, he is with his young family or serving as Trustee of the European School of Osteopathy. Summary. As a regulator (FSA and then PRA/FCA), he managed the Change in Control team and was responsible for approving several high-profile new bank entrants, after which he was hired to grow PwCs bank start-up team, making it a market leading practice. Sav is a Relationship Manager with over 20 years experience in lending, origination and credit. The 15 per cent threshold was rather low and I think it had artificially created a differential between investor intent and regulatory burden. At Monument Bank, Mintoo Bhandari has 15 colleagues including Ian Rand (CEO), Vikash Gupta (Director) . Instead, the plan is to connect to a customers existing current account, whether with a high street bank or digital challenger, all via the wonders of open banking. But we believe that the best promoters are those who put a premium on having the right partner, rather than a placid market. Prior to joining, he spent most of his career at McKinsey working with clients on strategy, revenue growth management and large digital transformations, specialising in consumer-centric organisations, and the use of data science. Were here for our clients and the level of service they deserve. See Photos. And if not, you will find him in the theatre with a glass of wine. Mr. Bhandari is a graduate with distinction of the Massachusetts Institute of Technology (Mech Eng, S.B. We were getting the call centre run around constantly, the [relationship manager] we had originally kept getting changed, the relationship was all one way. In his spare time, he is either watching sports or playing Golf.

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