SMFG India Credit elevates Swaminathan Subramanian as Chief Operating Officer

SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) has announced the appointment of Swaminathan Subramanian (Swami) as Chief Operating Officer (COO). Swami was previously the company’s Chief People Officer (CPO), and in his new elevated role he will now manage Operations, Technology, Legal, Enterprise Services, Human Resources, and CSR.

Swami brings a wealth of experience and proven leadership skills to his new position, having played a vital role in the company’s transformation agenda.

Driven by a strong business acumen and demonstrated versatility of operating in complex business environments, Swami has consistently delivered results and helped take strategic decisions with strong business impact. 

Expressing his delight, Shantanu Mitra, CEO & MD, SMFG India Credit, said, “I am happy to witness Swami’s growth and his expanded role and responsibilities with us. In his enhanced role, he will lead our digital transformation, corporate legal initiatives, operational efficiency, and focus on building a strong infrastructure, as well as, prioritizing our people and community. This appointment reflects our commitment to developing and nurturing talented leaders who possess proven credentials and exhibit strong learning agility. We extend our best wishes to Swami for the journey ahead.”

Speaking on the occasion Chairman of SMFG India Credit, Noboyuki Kawabata, said “I extend my heartfelt congratulations on Swami’s well-deserved promotion to the position of Chief Operating Officer. His exceptional understanding of the business, as well as dedication and hard work, have certainly made a significant impact to our India franchise and is reflected in his personal growth. As he transitions from his current role as CPO to COO, I am confident that his deep insights and strategic thinking will continue to further drive SMFG India Credit forward”.

Swami has held leadership roles across various geographies such as Africa, Asia and Middle East, apart from India, for over 25 years of his experience in MNC and Indian Business Houses. Before joining the SMFG India Credit family again in May 2021, he was with Sterlite Power, heading the HR function as Group Chief Human Resources Officer (CHRO) for India and Brazil.

He has worked with leading companies across the globe during his career, such as Reliance Capital, JP Morgan, Barclays, Standard Chartered Bank, and Accenture. 

Swami holds a gold medal in Engineering from Jadavpur University and an MBA from XLRI Jamshedpur.

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About SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) 

SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) is registered as an NBFC – Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and a member of SMFG. SMFG India Credit started its India operations in 2007 and has established a pan India presence – across 

600 towns and 65,000+ villages through 729 branches and over 16,500 employees offering lending products to underserved & unserved retail and small business borrowers. By doing so, it has introduced people to formal credit. SMFG India Credit’s primary services constitute financing of SME for working capital and growth, loans for commercial vehicles and two-wheelers, home improvement loans, loans against property, personal loans, working capital loans for urban self-employed and loans for rural livelihood advancement, rural housing finance and financing of various rural micro enterprises. 

Shareholders –

Sumitomo Mitsui Financial Group (SMFG) 

SMFG holds a 74.9% stake in SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) and is one of the largest global banking and financial service groups, offering a diverse range of financial services including commercial banking, leasing, securities and consumer finance with a heritage exceeding 400 years in Japan.

SMFG is listed on the Tokyo and New York (via ADR) Stock Exchanges and has a market capitalization of approximately US$58.4 billion (as of 7th February 2023). SMFG is one of the global systemically important banks (G-SIBs) and has high credit ratings of A1 by Moody’s Investors Service and A- by Standard & Poor’s.

Fullerton Financial Holdings (FFH)

FFH is an independently operated strategic and operating investor in financial and related services in emerging markets. FFH creates shareholder value by being committed to building differentiated business models focused on the Mass Market and SME segments, and enabling digital innovation for its portfolio companies. FFH is a wholly-owned independent portfolio company of Singapore-headquartered investment company, Temasek.