V. Vaidyanathan founded Capital First Ltd by first acquiring an equity stake in an existing NBFC and then securing an equity backing of Rs.810 crore in 2012 from reputed PE Warburg Pincus, resulting in the buyout of other majority shareholders. He believes that financing India’s 30 million MSMEs and India’s emerging middle class, with a differentiated model, based on new technology platforms, offers a unique opportunity in India. As part of this belief, he converted the existing NBFC, which was into wholesale financing business (90% of book) in March 2010, into a retail finance institution (85% of book), and expanded retail operations to 222 locations across India within 5 years. Vaidyanathan joined ICICI Limited in early 2000 when it was a Domestic Financial Institution (DFI) and the retail businesses he built helped the transition of ICICI from a DFI to a Universal Bank. He launched the Retail Banking Business for ICICI Limited in 2000, and grew ICICI Bank to 1400 Bank branches in 800 cities, 25 million customers, a vast CASA and retail deposit base, branch, internet and digital banking, and built a retail loan book of over Rs. 1,35,000 Crores in Mortgages, Auto loans, Commercial Vehicles, Credit Cards and Personal Loans. He also built the ICICI Bank’s SME business and managed the Rural Banking Business. These businesses helped the conversion of the institution to a universal bank renowned for retail banking. Vaidyanathan was appointed as MD and CEO of ICICI Personal Financial Services at 32, Executive Director on the Board of ICICI Bank at the age of 38 and became the MD and CEO of ICICI Prudential Life Insurance Co at 41. He was also the Chairman of ICICI Home Finance Co. Ltd, and served on the Board of ICICI Lombard General Insurance Company, CIBIL- India’s first Credit Bureau, and SMERA- SIDBI’s Credit Rating Agency. He started his career with Citibank India in 1990 and worked there till 2000 in retail banking. During his career, he and his organization have received a large number of domestic and international awards including ‘Outstanding Entrepreneur Award’ in Asia Pacific Entrepreneurship Awards 2016, Greatest Corporate Leaders of India- 2014, “Best Retail bank in Asia 2001”, “Excellence in Retail Banking Award” 2002, “Best Retail Bank in India 2003, 2004, and 2005” from the Asian Banker, “Most Innovative Bank” 2007, “Leaders under 40” from Business Today in 2009, and was nominated “Retail Banker of the Year” by EFMA Europe for 2008. He is an alumnus of Birla Institute of Technology and Harvard Business School and is a regular contributor on Financial and Banking matters in India and international forums. He is a regular marathoner and has run 7 marathons and 15 half marathons.
- Short Bio:Founder & Executive Chairman, Capital First Group