Bharti Enterprises Ltd has appointed former Max Life Insurance executive Rajesh Sud as its new managing director for financial services.
Sud will take over from Soumen Ghosh, the company said in a statement on Tuesday.
In his two-year stint at Bharti, Ghosh led the company’s general and life insurance businesses as well as the wealth management vertical.
Previously, Ghosh worked with Reliance Capital as an executive director and group chief executive officer. He oversaw several business lines such as insurance, mutual funds, commercial and housing finance, broking and distribution.
Sud is an alumnus of Delhi University’s Faculty of Management Studies. Before joining Bharti, he was the executive vice-chairman and managing director at Max Life.
In his new role, Sud will lead Bharti-AXA General Insurance and Bharti-AXA Life Insurance, and will also be on the board of Airtel Payments Bank. In addition, he will strategise and guide the group’s current and future forays into the financial services sector.
Bharti Enterprises founder and chairman Sunil Bharti Mittal said Sud’s experience and expertise in the sector would add value to the group’s businesses.
Apart from Max Life, Sud has worked as the managing director and chief executive officer of Esanda Finance India, a subsidiary of ANZ Grindlays Bank. He has also worked with Bank of America.
Bharti Enterprises was founded in 1976 by Mittal and is primarily known for its telecommunications business. Bharti group businesses have a presence in over 18 countries. It has also diversified into areas such as real estate, training and capacity building, and the fresh and processed foods business.
