Copyright 2023 VCCircle.com. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. 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. 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. Delivered Monday at midday. In her banking career, Fiona worked for Barclays, Daiwa Europe Bank, NatWest Capital Markets and most recently, Goldman Sachs. Steve brings 30+ years of technology management experience to our Board. He led, developed and oversaw . The acquisition of one of the largest credit operations in India, GE Capital India, through the AION fund and then rebranded Clix Capital. Monument claims to be the first digital challenger in the mass affluent space. We are fundamentally a value-oriented and often contrarian investor. Your IP: To burn off the calories Ioannis run marathons. In her spare time, she is enjoying art, food and wine preferably all together! With a very successful career over 35 years in banking, Niall brings a wealth of wisdom, knowledge and experience to Monument. Copyright 2023 VCCircle.com. Historically, when you think about this group, you might think about premier banking, says Bhandari. 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. This website is using a security service to protect itself from online attacks. 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. The 25 per cent threshold seems much more rational. We make better and faster decisions thanks to Anita. In his spare time, he is with his young family or serving as Trustee of the European School of Osteopathy. iOS Lead with over 10 years of experience in software development. At that time, he was looking for capital and support to undertake a backward integration related to his principal business. (212) 515-3200. The start-up evolved out of a belief that the mass affluent have gone "largely unaddressed by the [UK's] challenger bank boom". In her spare time, Federica loves to go the gym to practice Barre, Yoga and Pilates. Bhandari had initially worked with the Indian government, especially the Ministry of Finance, as part of a Harvard group advising the government during the liberalisation. He is really excited about his role at Monument helping to build and scale a truly modern, digitally enabled bank for our clients. Do you have any plan to bring that in India? 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. But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. Starting at a reported $5 million in 2018, it stood at $6.5 million in 2022. I actually experienced the pain myself, Mintoo Bhandari, Monuments chief executive and cofounder, told Yahoo Finance UK. A busy Dad, in his spare time enjoys the UK live music scene and doing his bit to support emerging artists. A lifelong Liverpool fan (along with fellow Celt Iestyn) he is basking in glory (for now). Americas +1 212 318 2000. The 15 per cent threshold was rather low and I think it had artificially created a differential between investor intent and regulatory burden. After graduating, she spent 9 years in operational leadership roles within customer service and mortgage & insurance sales before making the transition to HR. He actually started his career in Tech and now hes adding the Fin. Mr. Rajaram is Chairman of Millennium Spire Investment Holding Ltd. and Chairman at K&L Gates Straits Law LLC. Having created HSBC Premier in the UK over 20 years ago, Steve readily identifies with and understands our community well and he is obsessed with serving it in the right way. In India, most companies of any scale are already publicly traded. We and many other private equity firms active in India recognise that there may be an opportunity in providing more flexible financing. Monument Bank is in the late stages of securing a banking licence and expects to launch later this year. Feike is a Dutchman who has lived and worked in the UK for 14 years. By Mintoo Bhandari, Trish Kotze | Fintech Finance & News Verified. 4 Ed Sheeran - $2.4 million per show. He wants to build a more global, more efficient company a genuine market leader and he has many focused, thoughtful ideas on this subject. 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. We see that come to life at work too). Dominique studied Business Administration at BCHE, Brunel University specialising in Economics and International Finance. "I actually experienced the pain. One factor that also distinguishes our approach to investing is our focus on value. Copyright The President and Fellows of Harvard College, Harvard T.H. 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. He has a big vision and great personal drive to achieve a tremendous amount. These arent ultra-high net worth individuals, multi-millionaires who might outsource their finances to money managers. 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. Of course, private equity investments arent done unilaterally. 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. Anita is a member of Women on Boards UK and holds a BSc degree in Psychology from the University of Durham. We are a UK bank built to meet the needs of a community which deserves attention and recognition. Corporate author : UNESCO World Water Assessment Programme Person as author : Connor, Richard [author] Person as author : Coates, David [author] Mr. Bhandari joined Apollo in 2006. Bhandari believes open banking is nowhere near where it will be in the future, but that the technology is in place for Monument to offer a seamless lending and deposit experience, without needing to offer a current account. Ask him about his soup diet. For Bhandari, this is the second stint in Indian private equity space. In his spare time, he likes to spend time with his wife and daughter and ride his Harley Davidson as far as he can go. Companies, with as little as a few million dollars in EBITDA, can go public. Mintoo has finished Mintoo's high school education. Monument is chaired by Niall Booker, a veteran HSBC banker who rescued The Co-Op Bank from the brink of collapse in 2013 after being drafted in as chief executive. The difficult terrains and environments that these pipelines must traverse and the pressures they have to withstand create a very high technical bar that puts a premium on technical excellence. He worked in several digital agencies and has involved in professional teams before joining Monument. It actually costs so much more to modernise your technology than build it from scratch, Khouri said. 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. Market regulator SEBI has recently come out with changes to the takeover code, increasing the open offer limit to 25 per cent. Technical excellence was a key area when we assessed the company. 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. 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. Niall was educated at Glenalmond College and at Gonville and Caius College, Cambridge. Read more: RBS abandons Monzo-challenger B. See Photos. Apollo India Private Equity II (Mauritius) Ltd. A strong advocate of a fairer financial services market, she sits on the Customer Advisory Board of Fairer Finance. He has also held senior fiduciary, asset management positions at the world's largest university endowment (Harvard University) and Apollo Global Management ("APO" - NYSE). At its basics, its banking. Laura holds a BA(Hons) in Public Relations from Bournemouth University. They can raise equity and they can raise senior secured bank debt but there isnt much available in-between. With 30 years in Financial Services, Steve has seen it all. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. What are the sectors that Apollo Management favours? What were able to do is combine this modern technology with exceptional client service.. 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 his spare time, he pretends to go (and like) boxing. He is currently working on how to improve human judgement in public and private life. For his contributions to Society and to the business community, he was bestowed the PBM (Pingat Bakti Masyarakat The Public Service Medal) by the President of the Republic of Singapore in 2009. Welspuns principal business is the manufacture of large-diameter oil & gas pipes, used to build pipelines for transporting oil & gas, generally over long distances. 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. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration hes personally experienced. Wasim is obsessed with two things: a client-first approach and use of modern technology to deliver our strategy. 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. Alex prefers two wheels and enjoys motorbikes, in addition to competing against himself in cycling and triathlon events across Europe. Wasim Khouri, Monuments chief strategy officer, said the startup was not perturbed at the prospect of competing with these giants. First of all, Bhandari is keen to distinguish precisely who Monument Bank is talking about when it refers to the mass affluent. 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. 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. Fintech and alternative finance headlines with an exclusive Editor's Note each week. London, He had also worked with Harvard Management Company, which manages the endowment of Harvard University. Another thing we considered was that Welspun is very well known for its customer service. Today, Apollo is a leading investor in the global chemicals industry and a very meaningful investor in the rest of those sectors as well. These are the sectors which Apollo knows well globally and therefore, we are confident of adding value to those here in India. 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. For nearly three decades, Anita has played a crucial role in driving organisational performance at some of the UKs leading financial services institutions. To be active under these conditions, investment firms have to be fundamentals-driven and contrarian. Click to reveal Hes also our resident sommelier. Delivered Monday 9am EST/ 6am PST. Before joining Apollo in 2006, he had worked with The View Group, an India-focused private equity firm investing $1-$3 million per transaction. 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. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. Before joining us, Ioannis headed up the innovation efforts for NatWests wealth management businesses, which include the Coutts & Co. and NatWest Premier brands. 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. Here, at Monument, he is doing much of the same, except this time he is also solving a frustration he's personally experienced. 2 million per show. 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. Created Date: 20211108104240Z . 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. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. The action you just performed triggered the security solution. 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. Her positivity and energy is vital to our team and her desire to do a good job shines through. Monument will also have relationship managers available through voice, video, email, chat and what Bhandari calls co-browsing, where an RM can join you on your smartphone while youre browsing and help advise on a decision. And who said fintech is becoming boring? We believe that the blended entry price we were able to create at Welspun is very compelling and it compares very favourably to other private equity deals done in India over the last decade, he explains. Apollo is fundamentally a value investor and in a high-growth environment like India, that translates into being a contrarian investor. 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. In his own words: I can just keep going. Apollo Management's real estate investment arm, Apollo Real Estate Advisors, currently runs a $650 million real estate private equity fund in . 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. So the opportunity to invest in sizeable private companies is much more limited here than it is in many other markets across the globe. 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. He is also the Chair at Which? 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Multiple digital-first, app-only banks have launched in the UK in recent years but most have targeted ordinary current account holders or businesses. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said.