Sudipta Roy to helm L&T Finance Holdings from Jan 2024

L&T Finance Holdings Limited. (LTFH) on Saturday said Sudipta Roy will take over as Managing Director and Chief Executive Officer of the company from January 24, 2024, subject to necessary regulatory and/or legal approvals.

LTFH’s Board of Directors has announced the appointment of Roy, who joins Non-Banking Finance Corporation (NBFC) from ICICI Bank, as Corporate Chief Operating Officer (COO).

Roy’s appointment as Chief Operating Officer and subsequent promotion to Managing Director and Chief Executive Officer is part of NBFC’s succession planning.

Dinanath Dubhashi, Managing Director and CEO of LTFH, will retire from the company on April 30, 2024, according to a company statement.

“From the date of the aforementioned appointment until his retirement, Dobhachi will continue to serve as a member of the Company’s Board of Directors to oversee and assist in the smooth transition of leadership,” said LTFH.

In addition, he will act as a special advisor to the Chairman of the Board of Directors during this period.

Dubhashi joined L&T Finance in April 2007. He held various leadership positions before becoming Managing Director and CEO in July 2016.

LTFH said Roy is a retail banking and payments expert with over 24 years of experience in financial services.

At ICICI Bank, he served as Group President and managed diverse businesses such as Unsecured Assets, Cards, Payment Solutions, Student Ecosystem, E-Commerce and Merchant Ecosystem, Millennium Banking, and API Banking, according to the statement.

Prior to his appointment to ICICI Bank in 2010, he worked for Citibank and Deutsche Bank.