We think there will be significant benefits to companies if the market has a wide variety of options. Buy-to-let and bridge-to-let are core products that Monument will launch with, designed to appeal to the banks wealthy target audience. Also, Welspun has great leadership and a deep, capable team committed to continuous improvement and accomplishment. Iestyn also supports the worlds greatest rugby nation, which for those outside Wales, is Wales. Helene is a Non Executive Director with humm, the UK subsidiary of the consumer and commercial finance Australian-listed group. Mintoo is a graduate of the Massachusetts Institute of Technology (Mech Eng, S.B. 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. 07 Feb 2018. Performance & security by Cloudflare. 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. Find out more, 1 Poultry, Her experience spans international blue-chip companies in retail and consumer finance, and payments, including 16 years at Visa. When it launches, Monument will go head-to-head with the likes of HSBC (HSBA.L) and Barclays (BARC.L), which have traditionally dominated the market. London, But that typically involves people, and putting people into the mix made it very unsustainable from an economic standpoint. We often say that we want to get compensated in valuation for taking on complexity and for investing in sectors in which other private equity firms have less expertise. Vikash is involved in several philanthropic projects, including a previous Board membership of Spirit of 2012, a not-for-profit organisation set up to keep the spirit of the London 2012 Olympic Games alive. Led by Mintoo Bhandari, CEO, Monument received its "authorisation with restriction" (AWR) banking licence in October 2020. Ioannis holds a BA(Hons) in Economics from Durham University. 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. But, in the grand scheme of things, he is one of the highest-paid rappers of all time per show. Mintoo Bhandari, a former managing director at Apollo Global Management, is leading the venture alongside Brooker. DaBaby's reported annual income is more than $500,000 per year and over $45,000 each month. He also has a passion for gardening, although thats not always clear looking at his garden. One of the elements that we look for is the quality and depth of management, which Welspun has in abundance. Mintoo has served on the Board of more than 20 companies, with asset bases of many billions of dollars and many thousands of employees. Do you see more opportunities during this current uncertainty? Mintoo Bhandari Active New York, NY Senior Partner for Apollo Global Management, LLC (212)515-3200 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. 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. Of course, no Welspun pipes were involved but the incident generally sensitised the public to the need for fail-proof, high-quality systems in the oil & gas space. Others on the management team at Monument have held senior roles at Barclays and UBS. Bhandari will now be proactively work with Nobel Peace laureate Kailash Satyarthi and help his foundation raise money for social causes, the sources said. 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. 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. An entrepreneur and co-founder, Vikash brings a diverse range of knowledge and experience. 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. Our technology leader. Mintoo Bhandari. Monument has raised 10m in seed funding so far. Hes also our resident sommelier. Before that, he worked with Harvard Management Company which manages the endowment of Harvard University. 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. He left Apollo Global Management after nearly 12 years as a Senior Partner and Managing Director, working in New York, London and then successfully setting them up in India. The ability to execute when others are unable or unwilling to do so is a distinguishing characteristic of Apollo and has been fundamental to the firms long-term success. Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. What are the sectors that Apollo Management favours? The one thing that they have in common is growth both the economies are likely to grow into the foreseeable future. Manta Bhandari. Ltd. Get daily update with our newsletter Subscribe Now ! It was absolutely brutal. 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. Hes also worked at the world's largest university endowment (Harvard University) as an investor and served on the Boards of more than 20 companies across three continents. Market swings in the USA directly impact the Indian markets and just like the USA, the velocity of transactions diminishes when there is volatility and downward pressure in the Indian markets. Delivered Monday 9am EST/ 6am PST. Which is, you know, a very large sum, but this [mass affluent] community is the most creditworthy segment of the market., Bhandari says Monuments data-driven process of analysing and affirming credit quality will mean the bank has single basis point credit risk, which is almost unheard of.. Mintoo Bhandari is currently associated with Welspun Enterprises Limited appointed as Nominee Director and the paid-up capital Welspun Ente See More. 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. Copyright The President and Fellows of Harvard College, Harvard T.H. EC2R 8EJ Sav started his career at the Bank of Cyprus as a Graduate Trainee where he learnt the fundamentals of good lending and customer first relationship management. Read more: Starling CEO Anne Boden on Bounce Back loans and growing during COVID-19 pandemic. They really didnt appreciate and respect our time. Mintoo Bhandari is a Senior Partner & Managing Director at Apollo Global Management LLC. She also runs her own business and property development company. Erdi holds a Bachelors degree in Computer Programming from Bahcesehir University in Istanbul, Turkey. 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. Having unexpectedly landed in the technology start-up space right after University, Laura has spent 5 years immersed in the world of apps that are designed to enhance the lives of high-net-worth individuals. We are also exploring and evaluating the credit markets in India. 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. 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. At that time, he was looking for capital and support to undertake a backward integration related to his principal business. Net Worth Growth. Steve holds a MA Economics from the University of Cambridge. Bhandari will also step back from his direct leadership role at Aion Capital Partners, a special situations-focused joint venture launched by Apollo and ICICI . Sav is a Dad to two football mad boys; most of his spare time is spent taking them to football training, futsal training and football matches. The need for technical excellence and reliability was highlighted during the BP oil spill. 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. Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. Contact Mintoo, search articles and Tweets, monitor coverage, and track replies from one place. We believe that the blended entry price we were able to create at Welspun is very compelling and that it compares very favourably to other private equity deals done in India over the past decade. He was the CEO who led the turnaround of The Co-operative Bank and prior to that was Group Managing Director at HSBC and CEO of HSBC North America. Less classical is how Monument will operate, by harnessing the growing power of open banking. In his spare time, he will be playing superhero themed Lego. 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 love with history (and we hope numbers), Iestyn brings 20 years of diverse experience in Financial Services. What do you think of the Indian PE market, compared to the Chinese markets? A new digital-only bank backed by City of London veterans and targeting the UKs mass affluent is set to launch within months. With 30 years in Financial Services, Steve has seen it all. Sav is a Relationship Manager with over 20 years experience in lending, origination and credit. 08 February 2018. in Mechanical Engineering and earned his MBA at Harvard. We have a real estate effort here and a team entirely focused on that sector. Since both your investments are in listed companies, is Apollo Management more focused on PIPEs in India? We think its a very positive, prudent move. 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. She is also the co-founder of a female charity network. Feike is a Dutchman who has lived and worked in the UK for 14 years. After starting his career at Price Waterhouse as an auditor, he has worked in retail banking for nearly 25 years. So I believe I can get to breakeven, you know ideally I'd like to do it in the first year, on the outside, it'll be in year two, he says. As an academic, Andrews working and non-working time tend to merge. Read more: RBS abandons Monzo-challenger B.