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Talk with Sundeep Sikka, CEO, Reliance Capital Asset Management Ltd
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Sundeep Sikka, CEO, Reliance Capital Asset Management Ltd. (RCAM) has been instrumental in expanding RCAM’s footprints in both domestic and international territories. Sundeep has been with RCAM since November 2003 and has more than 13 years of leadership experience with NBFCs and Banks. Sundeep brings a proven track record of success and a broad understanding of the company’s business. Prior to RCAM, Sundeep has held a number of other senior management positions and his last stint was with ICICI Bank.
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ICRA verified A1+ rating to Reliance Capital
Credit rating agency, ICRA has reaffirmed the A1+ rating to Reliance Capital Rs 100 billion short term debt programme.
The rating re-affirmation reflects RCL’s association with Reliance Anil Dhirubhai Ambani (ADA) group one of India’s largest business groups, strong reported capitalisation levels amongst Indian Non-Banking Finance Companies, its improving liquidity & revenue profile.
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Reliance Capital, Daiwa to launch i-banking in India
Anil Ambani-controlled Reliance Capital, through its subsidiary Reliance Securities, is entering into a strategic alliance with Japan’s second-largest investment bank Daiwa Securities to set up investment banking business in India.
The deal will enable the two firms to share clients in their domestic markets. With Daiwa, Reliance Capital will be able to tap Japan’s pool of high net worth individuals who want a slice of the India story, said an official involved in the deal requesting anonymity as he is not authorised to speak to the media. A Reliance Capital spokesman declined to comment for this story.
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Reliance Capital plans Rs 100-cr ESOP for senior employees
Reliance Capital, the financial services company of the Anil Ambani group, has decided to dole out stock options worth Rs 100 crore to senior employees, said a person privy to the development.
The Reliance Capital board approved the employee stock option plan on Tuesday. The plan would cover nearly 500 employees. The employee stock option plan is viewed as an attractive retention strategy and also to be utilised to attract new talent to the company. It will also be an integral part of aggregate compensation for top management team, the same person said, requesting anonymity.
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Financial services sector has limitless growth: Anil Ambani
Painting a bright future for the Indian financial services sector, Anil Dhirubhai Ambani Group (ADAG) Chairman, Anil Ambani on Tuesday said that the headroom for (its) growth is virtually limitless.
In financial services, as in many other sectors of the Indian economy, we have barely scratched the surface, Ambani told shareholders at the annual general meeting (AGM) of Reliance Capital, a leading player in the Indian financial services space.
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Reliance Capital Annual General Meeting :Anil Ambani Speech
My dear fellow
Reliance Capital
shareowners,
I am delighted to welcome each one of you to this 23rd Annual General Meeting of our Company.
It has been a year of substantial achievements for our company, in the face of one of the toughest global economic downturn ever witnessed in history.
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Reliance Capital to sell life insurance stake
Reliance Capital is planning to unlock value by selling a part of its stake in its life insurance arm and foraying into investment banking, group Chairman Anil Ambani has told shareholders.
In addition, the Reliance Anil Dhirubhai Ambani Group (ADAG) has tweaked its private equity (PE) plans, which have been delayed by several months, to focus on domestic sources of funding.
We are considering various options to unlock value in our life insurance business, from a potential IPO (initial public offer) to strategic or financial stake sale or a combination of both. A final decision will be taken shortly, Ambani said at Reliance Capital’s annual general meeting here.
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Reliance Private Equity raising Rs 2,000 cr private equity fund
After foraying into the financial services business with Reliance Capital, Anil Ambani is now vying for a presence in the private equity investment space.
Reliance Private Equity, a part of the Reliance Anil Dhirubhai Ambani Group, is in the process of raising a private equity fund.
The fund is expected to raise Rs 2,000 crore, with a greenshoe option of another Rs 1,000 crore, totalling Rs 3,000 crore.
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Reliance Capital plans to enter into banking, overseas foray
The Anil Dhirubhai Ambani Group’s Reliance Capital has unveiled an ambitious plan for the next three-five years, including an entry into banking industry, globalisation of operations and tripling the customer base to 50 million.
We have drawn up exciting growth plans for the next three to five years, Anil Ambani, chairman of Reliance Capital, informed his shareholders ahead of the company’s annual general meeting here later this month.
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Reliance Asset Management Singapore appoints new CEO Mr Shek Chee Seng
Anil Dhirubhai Ambani Group firm Reliance Capital on Thursday said it has appointed Mr Shek Chee Seng as the CEO of its Singapore-based asset management subsidiary as part of plans to expand its financial services business across the globe.
Mr Chee Seng has been appointed as the new Chief Executive Officer of Reliance Asset Management (Singapore) Pte Ltd (RAMS), Reliance Capital said in a statement.
Mr Chee Seng, who was earlier with CITIC-Prudential Fund Management in China as its CEO, would directly report to Reliance Capital CEO and President (International Businesses) Mr Vikrant Gugnani, the company said.
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