Manappuram Finance Appoints Deepak Reddy as CEO

2 Aug 2025 , 10:55 PM

Manappuram Finance has brought in a new face at the top. On August 1, the Kerala-based NBFC appointed Deepak Reddy as its new Chief Executive Officer (CEO). The move marks a significant shift in the leadership structure, with long-time leader VP Nandakumar stepping back from the CEO role to focus solely on his position as Managing Director.

Deepak Reddy have more than two decades of experience in financial services. Reddy is expected to take charge of driving the next phase of growth for Manappuram and its group companies. His responsibilities will span across a wide range of business lines from gold loans and microfinance to MSME lending, vehicle finance, housing credit, and digital platforms.

According to sources familiar with the development, the focus for Reddy will not just be on expanding the loan book, but also on strengthening internal culture, improving governance standards, and pushing for customer-first practices across the board.

Before taking on the role, Reddy worked with Bajaj Finserv, where he led human resources, playing a key role in shaping the company’s talent strategy. His earlier career included a long stint at American Express, where he headed small business lending before moving on to lead the Platinum Cards portfolio.

A graduate in commerce, Reddy earned his postgraduate diploma in management from TAPMI, Manipal. This leadership change comes just months after Manappuram announced a major funding deal. In March 2025, the company confirmed a ₹4,385-crore investment from Bain Capital Asia, a private equity firm that will acquire an 18% stake through a preferential issue of shares and warrants. Once completed, Bain will become a joint promoter, alongside Nandakumar and Sushama Nandakumar.

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