The Nigeria’s foremost insurance
group, Royal Exchange Plc, has named Mr. Mukesh Malhotra, an Indian national,
as the new Group Head, Strategy and Business Planning with immediate effect, reports
Confirming this development to DigitalSENSEBusiness News, the Group Managing Director (GMD), Mr. Chike Mokwunye, said that
the appointment of Mr. Malhotra is in continuation of the company’s resolve to
employ seasoned professionals who could impact positively on the fortunes of
the group, in addition to building a market-oriented organisation.
He also said that the appointment
is predicated on continuously creating responsive entity to serve the needs of
the market and the ever-changing demands of the client, which have kept Royal
Exchange in business.
Mokwunye pointed out that this
appointment will afford Royal Exchange to redefine its strategic vision,
develop new products and channels to meet the ever-changing needs of the
consumer.
“… And also enable the group to be
a dorminant player in the insurance and other financial services sector in
Nigeria.” he asserted.
The GMD, was equally quoted in a
press statement made available to DigitalSENSE Business News by the Corporate
Communications department as saying that Mr. Mukesh will be responsible for
developing different business strategies for the various business subsidiaries,
develop new products, enhance existing products/channels and also implement the
revised 3-year Strategic Plan for the organisation encompassing all the
functions in the organisation.
He described Mr. Mukesh Malhotra as
a seasoned executive with over 17 years of rich experience in the areas of
finance, corporate strategy and mergers and acquisitions in companies such as
Bharti Airtel, eBay, Coca Cola, Dell and Ricoh.
Malhotra, he further said, has been
involved in financial controls, capex optimization, cost controls, corporate
restructuring, growth strategy and market entry strategic initiatives for
various start-ups and global multi-billion dollar organisations.
Mr. Malhotra, before now, he said was
heading the Business Planning & Market Planning for different verticals of Bharti
Airtel, India and before that, was the Chief Financial Officer (CFO) for eBay. Prior
to that, he was with Coca-Cola India and was taking care of Strategic Planning.
Mukesh holds a Bachelors degree in
Civil Engineering from Punjab Engineering College and a Masters in Business
Economics (Finance and Econometrics) from Delhi University.
DigitalSENSEBusiness News recalls that Royal Exchange Plc commenced operations in 1921 and has
continued to be driven by innovation and a determination to offer services that
are of exceptional value to its customers.
Following
the recapitalization exercise in 2007, the company was reorganized into a group
structure comprising Royal Exchange Plc as the holding company and five
strategic subsidiaries namely, Royal Exchange General Insurance Company
Limited (Non-Life Insurance Services); Royal Exchange Prudential Life Plc (Life
Assurance Services); Royal Exchange Finance and Investments Limited (Financial
Advisory Services); Royal Exchange Healthcare Limited (HMO and Health
Insurance); and Royal Exchange Microfinance Bank Limited (Banking Services).
Remmy Nweke
... Making SENSE of digital revolution!
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