By Jagpreet Sandhu,Chandigarh, December 07 , 2011 ; Magma Fincorp Limited, India’s leading retail finance company on Wednesday announced the joining of Ajay Rawal as Chief Marketing Officer (CMO).
As CMO, he will anchor the Magma’s branding initiatives and guide the Channel & Product Development efforts. He will be based in Mumbai.
Mr Rawal is an MBA and has over 20 years’ experience. He started his career in 1991 at Lupin Laboratories and thereafter worked in companies like IPCA Laboratories, Elder Healthcare etc. Prior to joining Magma, he was GM – Marketing with Paras Pharmaceuticals.
About Magma Fincorp Limited
Magma Fincorp Limited (“Magma”) is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.
Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipments, Tractors and SME Loans. Magma has a dedicated base of around 2.7 lac customers and has assets of INR 11378 crores under management. The company has 195 branches in 20 states and 1 union territory and employs over 5000 people.
Magma has signed a joint venture with HDI Gerling, part of Talanx Group, Germany’s third largest insurance group to start a general insurance company in India, which since has received R1 license from the insurance regulator.