TT Srinivasaraghavan, MD of Sundaram Finance, steps down after 38 years

The city-based non-banking finance company Sundaram Finance Ltd., at its board meeting held on Wednesday announced a slew of changes to its management team, starting 1 April 2021.

TT Srinivasaraghavan, MD, Sundaram Finance, completes his term of office on March 31, 2021, and retires from service after 38 years with the company, the last 18 years as Managing Director.

Under his tenure as MD, the company has grown its balance sheet from under Rs 800 cr to over Rs 30,000 cr today. Over the last two decades, Srinivasaraghavan also led the diversification of the group from its traditional focus on medium and heavy commercial vehicles to a multi-product diversified financial services provider.

S Viji, Chairman, Sundaram Finance said “Under his leadership, the company has demonstrated its traditional focus on asset quality, and most importantly its adherence to ‘Sundaram Values’ of prudence and customer focus.” As a result of Srinivasaraghavan’s retirement, the company announced changes to the management team effective 1 April 2021.

Harsha Viji, Deputy MD, will assume the office of Executive Vice Chairman, and take responsibility for the overall strategy and direction of Sundaram Finance, and other group companies in financial services. Rajiv Lochan, Director (Strategy), will take over the reins of Sundaram Finance. He brings a rich experience of 25 years, in financial services, then as a partner in the consulting firm McKinsey & Company, and most recently, as MD of Kasturi & Sons. AN Raju, Director (Operations), will assume the role of Deputy MD of Sundaram Finance. Srinivasaraghavan will remain on the Board and play a mentorship role.

The Board has declared an interim dividend of Rs 12 per share for the financial year 2020-21.