Royal Exchange Appoints New Group Head, Strategy and Business Planning

DELHI, February 20, 2014 /PRNewswire/ --

Royal Exchange Plc, Nigeria's foremost insurance group with distinctive asset management capabilities, has announced the immediate appointment of Mr. Mukesh Malhotra, an Indian national, as the new Group Head, Strategy and Business Planning.

Confirming this appointment to newsmen recently was the Group Managing Director, Mr. Chike Mokwunye, who said that the appointment of Mr. Malhotra is in continuation of the company's resolve to employ seasoned professionals who can impact positively on the fortunes of the group and resolve to build a market-oriented organization that would be responsive to the needs of the market and the ever-changing demands of the client, that keep Royal Exchange in business.

Speaking further, Mr. Mokwunye said, "This appointment will enable 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 dominant player in the insurance and other financial services sector in Nigeria."

The statement from the corporate communications department of the company said Mr. Malhotra 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.

Mr. Malhotra is 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. He has also 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 organizations.

Before joining Royal Exchange, Mukesh 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.

Royal Exchange Plc started operations in 1921 and continues 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)
• Royal Exchange Microfinance Bank Limited (Banking Services)

For more information, please contact:

Corporate Communications Department
Royal Exchange Plc

34/36 Oshodi-Apapa Expressway
Oshodi, Lagos
Phone: 0802 718 4941
Email: [email protected]
Web: www.royalexchangeplc.com

Primary Media Contact: Manoj Sharma, [email protected], 91-9811135420