IIFL Securities Appoints Nemkumar as Managing Director

livemint.com:

IIFL Securities Limited, a leading financial services house, today said that it has appointed Mr. Nemkumar H, Whole-Time Director on the Board, as the Managing Director with effect from May 15, 2024 for a period of 5 years. Mr.

R. Venkataraman is currently the Chairman and Managing Director of the company. His tenure as Managing Director is due to expire on May 14, 2024.

Mr. Venkataraman has decided not to seek renewal of his term as Managing Director. However, Mr. Venkataraman shall continue as the Chairman & Non-Executive Director on the Board of the Company.

The Board believes that the separation of the posts of Chairman and Managing Director is better aligned with good corporate governance standards.

Mr. R. Venkataraman said, “The Board level changes effected today will further strengthen the Company’s governance structure and usher in a renewed focus to drive continued growth.

I have worked with Nemkumar for over many years. His deep understanding of capital markets will help the Company scale up its various businesses. I also thank the Board Members and my colleagues for their support during my tenure as Managing Director."

Mr. Nemkumar, a rank holder Chartered Accountant, is a founding member of IIFL’s Institutional Equities business.

He joined IIFL in 2007 to scale up the Institutional Equities business and under his leadership, IIFL has emerged as one of the leaders in the segment. Prior to joining IIFL, Mr. Nemkumar spent nearly ten years at CLSA India as an Equity Analyst, as Head of Research and in his last role as the Country Head.