IDBI Capital Market Services has appointed Abhay L Bongirwar as the Managing Director and CEO of IDBI Capital Market Services. He took over from his predecessor Nagendra Bhatnagar, on 31 December 2010.
Bongirwar is a distinguished banker and has a wide experience of around three decades in IDBI Bank in project appraisal, investment banking and corporate banking at large, with particular experience in infrastructure, retail banking, corporate debt restructuring and HRD/training, etc.
Bongirwar has an experience of 27 years and has been associated with IDBI Bank since the beginning. He has an experience in handling banking operations encompassing strategic planning, project appraisal and credit monitoring. He has a rich experience in business origination for IPOs, M&A, loans syndication, private equity and advisory works for PSUs and strategic and business structuring.
He is an expert in identifying, negotiating structuring and executing investment banking transactions for emerging growth companies; managing investment banking relationships with key strategic clients, advising them on strategic initiatives and formulating business plans in addition to advising on leveraged transactions. He was appointed as Deputy CEO of IDBI Capital Market Services last June.
The IDBI Group has been aiming to strengthen its position in all financial services sectors: investment banking, broking, mutual fund, insurance and IT services by providing what it calls â€œa complete basket of productsâ€ Given Bonginwarâ€™s background in infrastructure finance, the sector will hope that it remains a major focus for the Bank.