Aditya Birla Money Ltd appoints Mr SudhakarRamasubramanian as Managing Director

19th January, 2011

Mumbai: The Board of Directors of Aditya Birla Money Ltd (ABML),  the broking arm of Aditya Birla Financial Services Group (ABFSG), has appointed Mr. Sudhakar Ramasubramanian as Managing Director of the Company. He will also oversee the operations of Aditya Birla Money Mart Ltd (ABMM).

Mr. Sudhakar will take over the mantle at ABML on February 1, 2011. Based in Mumbai, he will functionally report to Mr. Pankaj Razdan, Deputy Chief Executive - Financial Services, Aditya Birla Group. Mr. Sudhakar is currently the CEO of Aditya Birla Finance Ltd, the NBFC business of ABFSG. Mr. Pankaj Razdan continues to be a Director of ABML.

This appointment underscores ABFSG's continued commitment to a strong leadership at the helm of all of its seven businesses.

Mr. Ajay Srinivasan, Chief Executive - Financial Services, Aditya Birla Group, said, "These businesses offer a huge growth opportunity for ABFSG to profitably acquire new customers and make our presence and services felt across India. In this new role, Sudhakar will be responsible to take them to a new trajectory, by expanding our product range and business lines, and building strong risk and compliance management processes to cater to our wealth, retail and institutional customers."  He further added, "This move reinforces the cross-business career development and progression opportunities that the Aditya Birla Financial Services Group offers to all its employees."

Mr. Sudhakar joined ABFSG in March 2009 from the Aditya Birla Group, where he worked in various functions including corporate strategy since 1996. Initially he was appointed Executive Director of ABML to manage its overall operations and drive the post-merger integration of ABML into the ABFSG fold. Under his leadership, ABML grew significantly on all business parameters, and today, ABML is an integral and important member of the ABFSG family.

In January 2010, he moved to Aditya Birla Finance Ltd, as CEO and led the business to higher profitability and an enhanced book size. Meanwhile, he continued to remain as a Director on the Board of ABML.

About Aditya Birla Money
Aditya Birla Money is a single brand offering the combined products and services of Aditya Birla Money Limited (formerly Apollo Sindhoori Capital Investments Limited) and Aditya Birla Money Mart Limited (formerly Birla Sun Life Distribution Company Limited). Aditya Birla Money Limited is a broking and distribution player, offering Equity and Derivative trading through NSE and BSE and Currency derivative on MCX-SX. It is registered as Depository Participant with both NSDL and CDSL and also provides commodity trading on MCX and NCDEX through its subsidiary company.

Aditya Birla Money will also provide a range of other products from Aditya Birla Money Mart Limited like company deposits, mutual funds, insurance, structured products, alternate investments and has a premier wealth management service arm to cater to HNI customers.

These offerings are delivered through a strong pan India distribution network of over 1148 own and sub broker branches, a robust online and offline model with a strong technology backbone to a large customer base, in excess of 4 lakhs.

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About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz., life insurance, asset management, NBFC, private equity, broking, wealth management and distribution and general insurance advisory services.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd, Birla Sun Life Asset Management Company Ltd, Aditya Birla Finance Ltd, Aditya Birla Capital Advisors Pvt Ltd, Aditya Birla Money Ltd, Aditya Birla Money Mart Ltd and Aditya Birla Insurance Brokers Ltd.

ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with about 5.5 million customers manages assets worth US$20 billion approximately and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1600 points of presence and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With revenue of over US$1.25 billion (in 2009-2010), ABFSG is a significant non bank player.

ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a US$3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a US$29 billion Indian business house operating in 27 countries across the globe.