The key members of the management team are :
MADHUSUDHAN MENON(Executive Chairman)
Madhusudhan Menon, Executive Chairman of MHFC, 62, has over 30 years of banking (and now housing finance) experience. After completing his CA, he initially was with the Reserve Bank of India where he worked for 2 years. He then worked with American Express Bank for over 20 years - across most areas and departments - with his last role being the India Head - Commercial Banking and Capital Markets. He left the Bank in 2002 and spent a few years as an advisor to various Indian business groups as a capital markets and investment specialist, before co-founding MHFC in 2008 to help support lower income financially excluded families own a home and in general, support the eco-system of new housing and financial inclusion.
Rajnish Dhall(Managing Director)
Rajnish Dhall, Managing Director of MHFC, 46, completed his PGDM from the Indian Institute of Management (Ahmedabad) in 1991 after which he worked with American Express Bank in a variety of roles and locations (Mumbai, London, Singapore) for 15 years. He left the Bank as a Senior Director in 2006 and returned to Mumbai to work in the social sector and initially joined Aangan
an NGO which works with children in state run children homes. He worked there for 2 years before co-founding MHFC in 2008 as a social enterprise, thus combining his earlier experience in finance and also his interest to help disadvantaged families. He remains on the Advisory Board of Aangan, as well as Ummeed
, a Mumbai based NGO which helps children with developmental disabilities.He is also on the Justice Dhanuka court appointed committee to look into the infrastructure of Mumbai municipal schools.
Nachiket Shelgikar(Executive Director/CFO)
Nachiket Shelgikar,Executive Director of MHFC, 30, completed his B.S from the Carnegie Mellon University, after which he worked with Deutsche Bank in the M&A Team for a year in London. He left the Bank in August 2008 to come back to India to work as a social entrepreneur, and co founded MHFC, to help prove the concept that lower income families (including those who lack documentation to prove incomes) are equally credible in meeting their home loan obligations, and that lending to this segment can help not just with a solution to the housing problem but also be a viable business opportunity.
Ramesh Ogale(Director - Projects)
Ramesh Ogale, Director - Projects, 62, has more than 30 years of experience in the Real Estate (and now Housing Finance) sector. He started work at Makers Development Services, where he worked on various turnkey township projects. In 1989, he promoted his own construction company for building and marketing housing for low and middle income buyers in the coastal Maharashtra region. He thus is well exposed to construction practices, and project management, and also interacted with various housing finance companies throughout his career. He is part of the initial set up team at MHFC joining the company in 2009 and has been instrumental in stimulating and establishing relationships with developer partners (as well as monitoring the projects as they are being executed) and promoting new housing for lower income families.
Jayesh Shah(Director - Credit and Operations)
Jayesh Shah, Director - Credit and Operations, 49, started his career at HDFC, India's leading housing finance company, as a management trainee in June 1987. Over his 22 year career with the firm, he worked across all major departments at HDFC, as well as being on specific local assignments including the development of an online loan processing system. He has also been on international assignments to help set up housing finance companies in Sri Lanka and Indonesia. In addition, he was a regular faculty at the HDFC Training Centre, where his area of specialization was Credit Risk Management and Loan Process Improvisation. He has worked on pilot HDFC social development projects on microfinancing, housing and social infrastructure with agencies like BAIF, KfW, Baroda Citizen's Council and the United Way of Vadodara and always been passionate about helping the financially excluded own a home. He joined MHFC in May 2009 as part of the initial team to help extend the existing market based housing finance model to include customers from weaker sections who lack documentation, and has been instrumental in establishing MHFC's overall systems and processes.
Avani Shah(Company Secretary / GM)
Avani joined MHFC in 2010. She is a qualified CS and a Bachelor at Law. Apart from being the Company
Secretary, she is also an integral part of the Projects Team and handles Legal and other due diligence of Projects. She also playes a major role in co-ordinating NHB compliances and Statutory and Internal Audits.
In addition, MHFC will be assisted on the Board by:
Ashish Karamchandani(Independent Director)
Ashish Karamchandani is a Director and co-leads the Inclusive Markets approach area at FSG Advisory Services Private Limited. He focuses on using market-based solutions to drive sustainable social change. His emphasis has been on multi-year programs which seek to build and scale inclusive business models to address sector specific development challenges. He is currently initiating an effort to build the market for affordable high-quality early childhood education in urban India. He has authored several influential reports on inclusive businesses. He is the founder of Monitor Inclusive Markets (MIM), a social action unit within Monitor. Prior to founding MIM, Ashish started, developed, and led Monitor Group's consulting business in India.
Mihir Doshi(Independent Director)
Mr. Mihir Doshi has been the Managing Director and Chief Executive Officer of India Operations of Credit Suisse Group since January 2006. He joined the Credit Suisse Group after spending 22 years at Morgan Stanley in various capacities, primarily in New York, Tokyo, and Mumbai. He has been instrumental in re-establishing Credit Suisse's India franchise. He is a member of the Asia Pacific Management Committee and the Emerging Markets Council. He also serves on the Board of United Way, Mumbai, and is a Trustee of Save the Children India. He holds a BS (Honors) from NYU Stern and a CPA from New York State, which he gained while working with Deloitte Haskins and Sells, New York.
Mona Kachhwaha(Nominee Director)
Mona has over 18 years of financial services industry experience. She has been with Caspian Advisors, an India-based fund manager that invests exclusively in the impact space, since 2007. At Caspian she manages the India Financial Inclusion Fund (IFIF), an equity fund that invests in impact businesses including microfinance, affordable housing, MSME and last mile banking intermediaries. Prior to joining Caspian, Mona worked with the Global Consumer Group of Citibank. While at Citibank, she worked in a range of functions including Business Management, Credit Risk Management and Operations. During her Citi tenure she held various senior positions, the most recent ones being the Business Head of the Microfinance Business and Head of Credit for the Mortgage Business in India. Mona holds a MBA from Xavier Labour Relations Institute (XLRI), Jamshedpur and B.A (Hons.) in Mathematics from Delhi University.
Geeta Goel(Nominee Director)
Geeta Goel manages the Michael & Susan Dell Foundation's (MSDF) microfinance initiative in India, which includes a portfolio of over 10 microfinance (and related) institutions. Prior to joining the Foundation, she spent over 12 years with the Corporate Finance Group of PricewaterhouseCoopers in India, advising large Indian and multi-national clients on joint ventures, mergers & acquisitions, business plans and valuations. Geeta has also advised clients in capital structuring and raising private equity. She is an alumni of IIM (Ahmedabad) and Lady Shri Ram College (Delhi).