IIFL Securities Appoints Nemkumar as Managing Director

IIFL Securities Limited, a leading financial services house, today said that it has appointed Mr. Nemkumar H, Whole-Time Director on the Board, as the Managing Director with effect from May 15, 2024 for a period of 5 years. Mr. R. Venkataraman is currently the Chairman and Managing Director of the company.

Mr. R. Venkataraman said, “The Board level changes effected today will further strengthen the Company’s governance structure and usher in a renewed focus to drive continued growth. I have worked with Nemkumar for over many years. His deep understanding of capital markets will help the Company scale up its various businesses. I also thank the Board Members and my colleagues for their support during my tenure as Managing Director.”

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Mr. Nemkumar, a rank holder Chartered Accountant, is a founding member of IIFL’s Institutional Equities business. He joined IIFL in 2007 to scale up the Institutional Equities business and under his leadership, IIFL has emerged as one of the leaders in the segment. Prior to joining IIFL, Mr. Nemkumar spent nearly ten years at CLSA India as an Equity Analyst, as Head of Research and in his last role as the Country Head. He started his career at BPCL and worked there for 8 years in the corporate treasury and pricing departments.

The Company has also appointed Mr. Narendra Jain as a Whole-Time Director for another five-years term. 

Commenting on his appointment as Managing Director, Mr. Nemkumar said, “After having spent seventeen years in building and growing IIFL’s institutional equities business, I am privileged to take up the role of the Managing Director of the Company. I am fortunate to have got an opportunity to work closely with the group founders’ Nirmal and Venkat, and look forward to their continued wise counsel, guidance and support. I believe that the growth opportunity for our Company is large and expanding. The Company’s strong entrepreneurial culture will enable us to further strengthen our competitive positioning and capitalize on the big opportunity that India offers. I am thankful to the Company’s Board for giving me this opportunity and I look forward to their continued support.”

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