In a significant leadership transition, Bajaj Finance Limited, the flagship lending arm of the Bajaj Group, announced the appointment of its long-serving Managing Director, Rajeev Jain, as Vice Chairman. The appointment, confirmed through a regulatory filing on Thursday, will take effect from April 1, 2025, marking the completion of Jain’s current term as Managing Director.
Jain will assume the role of Vice Chairman in the capacity of an Executive Director for a period of three years. His successor, Anup Kumar Saha, currently serving as Deputy Managing Director, has been elevated to the role of Managing Director, also for a three-year tenure starting April 1, 2025. Both appointments received approval from the company’s board on Thursday.
An industry veteran with over 30 years of experience, Rajeev Jain is widely recognized for his transformative leadership at Bajaj Finance. Since joining the company as Chief Executive Officer in 2007, Jain has played a pivotal role in scaling the organization into India’s largest non-banking consumer financier. Under his stewardship, Bajaj Finance witnessed an exponential rise in its market presence, technological capabilities, and customer outreach.
Jain assumed the role of Managing Director in 2015, overseeing a period of rapid expansion and innovation. His strategic vision and execution have not only redefined the company’s product offerings but also solidified Bajaj Finance’s position as a leader in digital lending and customer-centric financial solutions.
In addition to his new responsibilities at Bajaj Finance, Jain serves as Vice Chairman on the board of Bajaj Housing Finance Limited, further extending his influence within the group’s financial services businesses.
Prior to his tenure at Bajaj Finance, Jain held senior leadership roles with leading multinational organizations, including American Express, AIG, and General Electric’s erstwhile consumer finance division. Notably, as Deputy CEO of AIG’s consumer lending business, he was instrumental in crafting the strategic framework for AIG’s entry into India’s consumer finance market.
Anup Kumar Saha, who takes over as Managing Director, has been an integral part of Bajaj Finance’s leadership team since 2017. A financial services veteran with over 30 years of experience, Saha has contributed significantly to the company’s growth trajectory during his tenure as Deputy Managing Director.
Saha brings with him a deep understanding of the financial services landscape, having spent 25 years in the sector, including a 14-year tenure at ICICI Bank. At ICICI, he held several senior positions and also served on the board of the bank’s housing finance subsidiary, where he played a key role in scaling the housing finance operations.
His appointment as MD comes at a time when Bajaj Finance continues to expand its product portfolio and strengthen its digital capabilities. Saha’s proven leadership and deep industry expertise are expected to ensure continuity in Bajaj Finance’s growth strategy while driving new initiatives aligned with evolving market dynamics.
Sanjiv Bajaj, Promoter and Chairman of Bajaj Finance, will continue to provide strategic oversight as the company advances its vision of delivering innovative financial solutions. With Jain transitioning to Vice Chairman and Saha stepping into the MD role, Bajaj Finance aims to maintain its momentum while navigating the rapidly evolving financial services environment.
The leadership transition comes at a pivotal time for Bajaj Finance, as the company focuses on expanding its footprint across digital lending, consumer financing, and wealth management services. The combined expertise of Jain, Saha, and Bajaj is poised to drive the company’s next phase of sustainable growth.
