DK Business News
Fusion Finance has announced through a stock exchange filing on March 14 that Mr.Sanjay Garyali, an experienced financial sector professional and former Chief Executive – Urban Finance at L&T Finance, will be taking over as the company’s CEO.
The company, in its statement, underscored his vast expertise of nearly three decades in retail financial markets and his deep knowledge of the industry’s core dynamics.
The filing data indicated that Mr.Sanjay Garyali was responsible for shaping policies, developing infrastructure, and establishing distribution networks for mortgages during his tenure.
Additionally, he worked on optimizing the cost structure of the two-wheeler business to enhance profitability. Before joining L&T Finance, he spent over 15 years at Kotak Mahindra Bank in various roles, with his last position being the business head of Housing Finance and Emerging Markets.
Mr. Garyali will be responsible for reviving Fusion Finance, which reported a ₹1,060 crore net loss for the nine months ending December 2024, after turning a profit in the same quarter the previous year. Its stock price dropped 3.33% on Thursday, closing at ₹141, down from ₹145.85 in the last session. His appointment is set to be effective from March 17, 2025.
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