Maharashtra: IDFC announced today the appointment of Sunil Kakar as Group Chief Financial Officer, taking over from L.K Narayan who has moved on to the not-for-profit sector. The appointment is going to be effective immediately.

Mr. Kakar brings with him over 25 years of experience encompassing various financial roles and a career that kick started with Bank of America. Prior to joining IDFC Sunil Kakar dedicated 10 years to Max New York Life Insurance Company as CFO, India where he was responsible for Strategic Planning, Investments/Treasury, Finance and Accounting, Budgeting and MIS, Regulatory Reporting and Taxation. Being a part of their core group Mr. Kakar was responsible for the successful build out of their insurance business till date.

Inducted on the management committee of IDFC Group, Mr. Kakar, as the Group CFO, will be responsible for Finance & Accounts, Business Planning and Budgeting, Investor Relations, Resource Raising and IT.

On his appointment, Dr. Rajiv Lall, MD & CEO said, “We are happy to have Sunil on board. Undoubtedly he will ensure financial direction, oversight and control to IDFC and its group companies. I take this opportunity to wish him every success in IDFC.”