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ASK Asset & Wealth Management Group Onboards Dhiren Mehta As New CEO & MD Of ASK Finance

MM Desk by MM Desk
December 4, 2024
in Business Models, People Spotting
A A
ASK Asset & Wealth Management Group Onboards Dhiren Mehta As New CEO & MD Of ASK Finance

ASK Financial, part of Blackstone-backed ASK Asset and Wealth Management Group, which specialises in providing tailored debt financing and structured products to meet the needs of high-net-worth (HNI) and ultra-high-net-worth (UHNI) clients, has appointed Dhiren Mehta as its new Chief Executive Officer and Managing Director.

Bringing over three decades of unparalleled experience in the Indian financial markets, particularly in structured lending, credit trading, primary dealership, and debt and equity capital markets, Mehta is a seasoned Chartered Accountant who has held leadership roles at a slew of institutions including Avendus Capital, Kohlberg Kravis Roberts (KKR), Nomura, and Citigroup. 

His last stint was that in Avendus Capital wherein he served across a slew of leadership roles for near to eight years.

During the course of his career so far, he not only excelled in crafting innovative financial solutions but also built and nurtured relationships with key stakeholders, including banks, mutual funds, insurance companies, and large family offices.

As per ASK Asset and Wealth Management Group, his appointment underscores ASK Finance’s commitment to bringing world-class expertise and innovation to the forefront of financial solutions while adhering to the highest standards of governance and client satisfaction. 

Sharing his excitement on joining ASK Finance, Mehta said, “I am honoured to join ASK Finance at such an exciting phase of its journey. Leveraging my experience, I look forward to working with the team to strengthen our offerings and create value-driven, client-centric solutions. Together, we aim to address the unique needs of our HNI and UHNI clients, enhance operational excellence, and expand our market presence.”

To this, Rajesh Saluja, Co-founder, CEO and MD of ASK Private Wealth, added, “Dhiren’s deep expertise in structured lending and capital markets, coupled with his risk management acumen, positions him uniquely to lead ASK Finance. His proven ability to navigate complex financial landscapes will help us deliver bespoke and innovative debt solutions, further reinforcing ASK Finance’s leadership in serving HNI and UHNI clientele.”

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Mother Dairy is targeting a 20% increase in revenue to over Rs 24,000 crore in FY27, backed by rising consumer demand and plans to expand into new markets, according to media reports. As per media reports, the dairy major recorded a turnover of Rs 20,300 crore in FY26, up 17% year-on-year. The company has more than doubled its revenue over the last five years, crossing the Rs 20,000-crore milestone. As part of its growth strategy, Mother Dairy is looking to strengthen its presence outside Delhi-NCR. Chairman Meenesh Shah said the company is exploring entry into new markets where it currently has limited or no presence. The company is also setting up a dairy plant in Maharashtra, has leased a facility in Hyderabad, and is establishing a second plant in Bihar. Managing Director Jayateertha Chary said sales in the first two months of the fiscal have been encouraging, with ice cream emerging as a strong-performing category. Reports also suggest that from Mother Dairy’s FY26 turnover, the dairy business contributed more than Rs 15,000 crore, while edible oils and horticulture accounted for around Rs 5,000 crore. Around 63% of revenue came from Delhi-NCR, with the remainder generated from other parts of the country. The company currently reaches more than 95 cities across India and operates nine milk processing plants, four horticulture processing plants and 16 associated edible oil facilities.

Mother Dairy Eyes Rs 24,000 Crore Revenue In FY27, Plans Expansion Beyond Core Markets

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