He led, developed and oversaw . 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. The . Typically, Apollo will look to invest anywhere between $150 million and $1 billion out of this current global fund. Others on the management team at Monument have held senior roles at Barclays and UBS. Monument Bank Limited (10921940) is registered in England at 33 Cavendish Square, London, W1G 0PW. He has worked on cutting edge, highly interactive applications and advergames on mobile and web platforms with an obsession with writing clean code. Of course, private equity investments arent done unilaterally. Potential clients include bankers, lawyers, property developers, and doctors. 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. 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. MUMBAI: Mintoo Bhandari, India head of global private equity fund Apollo Global Management, will relinquish his responsibility of day to day fund management and move to a senior advisory role, said three people with direct knowledge of the development. Read more: Starling CEO Anne Boden on Bounce Back loans and growing during COVID-19 pandemic. Before that, he worked with Harvard Management Company which manages the endowment of Harvard University. With a very successful career over 35 years in banking, Niall brings a wealth of wisdom, knowledge and experience to Monument. Find out more, 1 Poultry, 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. 161.97.131.216 An entrepreneur and co-founder, Vikash brings a diverse range of knowledge and experience. These arent ultra-high net worth individuals, multi-millionaires who might outsource their finances to money managers. Steve brings 30+ years of technology management experience to our Board. He has an unrivalled breadth of experience, from operations through to commercial credit underwriting, advising private clients, running teams and managing relationships. 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. 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. With his ability to learn quickly and being a productive and strong team player, he joined Monument to help to build and deliver the next unique experience. Mintoo Bhandaris bank is on a mission to help millionaires. Do you think backing holding companies or a 2-3 promoter group company is a more interesting proposition for larger funds? Photo: Monument A new digital-only bank backed by City of London veterans and targeting the UK's "mass affluent" is set to launch. Nihar holds a MSc in Finance with Distinction from the University of Strathclyde and BSc in Finance from Pennsylvania State University. Organizzazioni che hanno offerto il loro contributo Agenzia internazionale per l'energia atomica (AIEA), Alliance for Global Water Adaptation (AGWA), AquaFed, Armenian Women for Health and Healthy Environment, Associazione internazionale degli idrogeologi (IAH), Associazione internazionale per l'ingegneria e la ricerca idroambientale (IAHR . Delivered Monday at midday. Khouri compared big banks IT systems to a spaghetti of integration and said Monuments systems were more Lego-like, combining best in class cloud services. In India, most companies of any scale are already publicly traded. Chan School of Public Health. Prior to that time, Mr. Bhandari was managing director of The View Group, an India-focused private equity firm. He is the CEO and co-Founder of VAR Capital, a multi-family office focused on investment management and lending. PDF Monument appoints Ian Rand as CEO During his career he has worked as a C++ developer / DBA and Sys Admin, so brings this experience to his current role. In addition to Apollo Global Management, Bhandari led Aion Capital Partners, which is a joint venture between Apollo Global Management and ICICI Bank. Fintech. Monument is targeting clients worth between 250,000 and 5m, putting it in competition against the likes of HSBC and Barclays. Enter Mintoo Bhandari, the founder and managing director of Monument, a newly-licenced and freshly-funded digital bank aimed at lending millions to the mass affluent at the touch of a button, all through their mobiles. Prior to joining Monument, he was a Senior Director at Publicis Sapient, where he worked with several Tier 1 banks, start-ups, and numerous other organisations. The Economic Times, which reported the development earlier on Wednesday, said Bhandari would continue to engage with clients and attend board meetings in India though he will now be based in the UK. 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. Mintoo has more than 25 years experience in investment management, credit origination, execution and oversight of financial institutions. Her positivity and energy is vital to our team and her desire to do a good job shines through. As an academic, Andrews working and non-working time tend to merge. Monument has raised 10m in seed funding so far. Mintoo Bhandari, a former managing director at Apollo Global Management, is leading the venture alongside Brooker. This byline is mine, but I want my name removed. Prena loves a good K-drama and is ready for an UNO cards challenge at any moment. This website is using a security service to protect itself from online attacks. Also, Welspun has great leadership and a deep, capable team committed to continuous improvement and accomplishment. Globally, Apollo is also very active in credit markets and real estate. He claims its with his son; but the jury is out. Download The Economic Times News App to get Daily Market Updates & Live Business News. And we would like to see a minimum of 1 per cent of that amount or roughly $150 million, deployed in every transaction. 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. Mintoo Bhandari: Apollo Management India head Mintoo Bhandari moves to But we believe that the best promoters are those who put a premium on having the right partner, rather than a placid market. What were able to do is combine this modern technology with exceptional client service.. Mintoo Bhandari's Profile | FinTech Futures, Fintech Finance & News 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.. Americas +1 212 318 2000. Instead the mass affluent sit just above the DIY retail market and might need extra service and support to deal with their increasingly complex financial lives. Founder of Monument Bank Ltd., Mintoo Bhandari presently is Managing Director at AGM India Advisors Pvt Ltd. Mr. Bhandari is also on the board of SOURCECORP, Inc., Apollo India Private Equity II (Mauritius) Ltd., Welspun Maxsteel Ltd. and Insight Solutions Ltd. The jewel that holds us all together, Federica does so much more than manage our office and all its interactions, both internal and external. Mintoo Bhandari Founder & Managing Director. 08 February 2018. He also has a passion for gardening, although thats not always clear looking at his garden. After graduating, she spent 9 years in operational leadership roles within customer service and mortgage & insurance sales before making the transition to HR. To be a successful investor in India, we believe that you have to have both a good promoter and a fundamentally good business. Prior to joining Monument, Laura honed her skills and experience in the app space at Velocity Black, working closely with the founders to grow and enhance the customer experience, while also building out the companys Luxury Goods division. Do you see more opportunities during this current uncertainty? January 26 2023. 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 has a big vision and great personal drive to achieve a tremendous amount. Prerna joined Monument's mobile team as an Android Developer focused on delivering innovative product features. Mr. Bhandari was also previously a member of the private equity team, and later a manager of hedge fund capital, at the Harvard Management Company, which manages the endowment of Harvard University. 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. And the fact that so many pools of capital in India are excluded from investing in infrastructure is not helpful. Our approach in India is focused on certain sectors. He is currently working on how to improve human judgement in public and private life. 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. Click to reveal These sectors include chemicals, oil & gas, metals and mining, financial & business services and media distribution. The Covid-19 pandemic upended life as we knew it, crippled global economies and changed how we all . More recently, Anita has been focused on supporting digital start-up banks develop and execute their corporate strategy. Apollo's Mintoo Bhandari to step back from India leadership AltFi - Mintoo Bhandari But after a glass of whisky, the fun begins and the guitar is out. Read more: RBS abandons Monzo-challenger B. Amit Bhandari, Biourja Trading LLC: Profile and Biography In her spare time, youll most likely find Dominique being taken for a walk by her dog or planning her next trip to fulfil an ambition of seeing classical opera in its country of origin. I actually experienced the pain myself, Mintoo Bhandari, Monuments chief executive and cofounder, told Yahoo Finance UK. We make better and faster decisions thanks to Anita. Bhandari is also keen to devote more time to the social sector and will work closely with Nobel laureate Kailash Satyarthi and Harvard Endowment Fund, said the person cited above. 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.