Jai Anmol Ambani, son of industrialist Anil Ambai, has been inducted as executive director on the board of Reliance Capital, making him a third generation member of the Ambani family to be at helm of affairs.
He would move in as an additional director after a two year stint in the finance company. Anmol, 24, has been working in various financial services businesses within Reliance Capital since 2014.
The board of directors of Reliance Capital approved the induction of Anmol on its board as an additional director, the company said in a statement.
The induction follows the recommendation by the nomination and compensation committee of the board of Reliance Capital, comprising largely independent directors.
Besides Chairman Anil Ambani, Anmol is the only other family member to have joined the board of the financial services arm of Reliance Group.
Anmol’s cousin Akash works with Mukesh Ambani-controlled Reliance Industries.
Anmol will become a full-time executive director at the forthcoming annual general meeting (AGM) next month.
He has been actively involved in internal business reviews across companies and has also been part of interactions with Nippon Life for increasing stake in Reliance Life Insurance and Reliance Capital Asset Management in the past two years.
Anmol has been a fast learner, an active participant in all reviews and has displayed sharp business acumen in various decision making processes, Reliance Capital Group Chief executive and executive director Sam Ghosh said.
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and have a detailed understanding of businesses at grass-root level.
“The past two years have given me great learnings about the financial services business and I look forward to using this experience for scaling up our businesses and contributing towards their growth and progress”, Anmol Ambani said.
With revenue of over Rs 4,000 crore, Reliance Capital has various verticals dealing with life insurance, commercial finance, securities, general finance, and mutual funds.