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Former L&T Finance official Sanjay Garyali appointed as CEO of microfinance lender Fusion Finance
Fusion Finance has appointed Sanjay Garyali as its new CEO. He was Chief Executive – Urban Finance of L&T Finance and also has experience working with Kotak Mahindra Bank.
Former Chief Executive – Urban Finance of L&T Finance, Sanjay Garyali, is set to join as the CEO of a microfinance lender, Fusion Finance, according to an exchange filing on Friday, March 14.
Sanjay Garyali is set to take over Devesh Sachdev’s responsibilities as CEO of the firm effective Monday, March 17.
“Mr. Sanjay Garyali has been appointed as the Chief Executive Officer of the Company, effective March 17, 2025. With over 28 years of experience in the finance industry, he brings a wealth of expertise in retail financial markets and a deep understanding of the key drivers in the sector,” said the company in the BSE filing.
Who is Sanjay Garyali?
Sanjay Garyali was the Chief Executive – Urban Finance at L&T Finance, where he was responsible for managing a portfolio of ₹40,000 crore, which included the two-wheeler, consumer loans, and mortgage segments.
“His role involved shaping policies, developing infrastructure, and creating distribution networks for mortgages, as well as optimizing the cost structure of the two-wheeler business to drive profitability,” as per the filing data.
Before L&T Finance, Garyali worked in various roles with Kotak Mahindra Bank for over 15 years. According to data collected from LinkedIn, his last position at Kotak was as the business head of Housing Finance and Emerging Markets.
According to a Moneycontrol report, Garyali will have to turn around the microfinance lender, which posted a net loss of ₹1,060 crore for the nine months ended December 2024, compared to a net profit in the same quarter in the previous financial year.
Fusion Finance shares closed 3.33 per cent lower at ₹141 after Thursday’s market session, compared to ₹145.85 at the previous stock market close. The announcement of the new CEO appointment was made on Friday, March 14. Indian stock markets were closed due to the Holi 2025 holiday on Friday.
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He was Chief Executive – Urban Finance of Lu0026amp;T Finance and also has experience working with Kotak Mahindra Bank.u0026nbsp;”,”handpicked”:false,”audienceTags”:”bf00_f,bi26_f,fmrk”,”autoBackLinked”:false,”aiContent”:false,”aiContentType”:null,”removeAds”:false,”contextualKeyword”:”HDFC1,Topic_lm_74,Emo_anticipation,Hour_23,Day_Friday,Hour_11,Day_Saturday”,”embedAmazonCount”:0,”embedCromaCount”:0,”embedFlipkartCount”:0,”embedSnapdealCount”:0,”tableOfContentsHeading”:[],”performanceArticleType”:null,”prContextualKeywords”:”PLKeywords,plc1″,”sectionId”:1544079234425,”subSectionId”:1544684604185,”typeOfFormat”:””,”crawledWidgetType”:null,”crawledWidgetData”:null,”selectedStream”:null},”isDeleted”:0,”expiryDate”:null,”listRelatedStories”:null,”type”:”story”,”relatedStories”:null,”listElement”:[{“id”:11741972716436,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003eFormer Chief Executive – Urban Finance of Lu0026amp;T Finance, Sanjay Garyali, is set to join as the CEO of a microfinance lender, u003ca class=”manualbacklink” target=”_blank” href=”https://www.livemint.com/topic/fusion-microfinance”u003eFusion Financeu003c/au003e, according to an exchange filing on Friday, March 14.u0026nbsp;u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741972716280,”articleType”:”element”,”name”:””,”title”:””,”type”:”alsoread”,”subType”:””,”paywallElement”:false,”alsoReadStories”:{“11741943018471″:”Zomato CEO Deepinder Goyal celebrates Holi 2025 with delivery partners”},”alsoReadStoryIdList”:[11741943018471],”alsoReadStoriesUrl”:{“11741943018471″:”/news/trends/zomato-ceo-deepinder-goyal-celebrates-holi-2025-with-delivery-partners-distributes-gujiya-see-pics-11741943018471.html”}},{“id”:11741974283672,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003eSanjay Garyali is set to take over Devesh Sachdev’s responsibilities as CEO of the firm effective Monday, March 17.u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741974283672,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003e“Mr. Sanjay Garyali has been appointed as the Chief Executive Officer of the Company, effective March 17, 2025. With over 28 years of experience in the finance industry, he brings a u003ca class=”manualbacklink” target=”_blank” href=”https://www.livemint.com/money/personal-finance/how-esops-can-boost-employee-compensation-and-drive-wealth-creation-11741848247023.html”u003ewealth u003c/au003eof expertise in retail financial u003ca class=”manualbacklink” target=”_blank” href=”https://www.livemint.com/topic/markets”u003emarkets u003c/au003eand a deep understanding of the key drivers in the sector,” said the company in the BSE filing.u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741974283672,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003ch2u003eWho is Sanjay Garyali?u003c/h2u003eu003cpu003eSanjay Garyali was the Chief Executive – Urban Finance at Lu0026amp;T Finance, where he was responsible for managing a portfolio of u003cspan class=’webrupee’u003e₹u003c/spanu003e40,000 crore, which included the two-wheeler, consumer loans, and mortgage segments.u0026nbsp;u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741974283313,”articleType”:”element”,”name”:””,”title”:””,”type”:”alsoread”,”subType”:””,”paywallElement”:false,”alsoReadStories”:{“11741836562783″:”Here’s how Tether saw $13 billion haul in 2024, most-traded crypto title u0026amp; more”},”alsoReadStoryIdList”:[11741836562783],”alsoReadStoriesUrl”:{“11741836562783″:”/market/cryptocurrency/tether-claims-13-billion-inflow-2024-most-traded-cryptocurrency-ceo-paolo-ardoino-us-goodwill-tour-donald-trump-markets-11741836562783.html”}},{“id”:11741973810887,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003e“His role involved shaping policies, developing infrastructure, and creating distribution networks for mortgages, as well as optimizing the cost structure of the two-wheeler business to drive profitability,” as per the filing data.u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741973810887,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003eBefore Lu0026amp;T Finance, Garyali worked in various roles with Kotak Mahindra Bank for over 15 years. According to data collected from LinkedIn, his last position at Kotak was as the business head of Housing Finance and Emerging Markets.u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741973810502,”articleType”:”element”,”name”:””,”title”:””,”type”:”alsoread”,”subType”:””,”paywallElement”:false,”alsoReadStories”:{“11741943798963″:”Inside the mind of Intel’s new CEO: ‘Disrupt and Leapfrog’”},”alsoReadStoryIdList”:[11741943798963],”alsoReadStoriesUrl”:{“11741943798963″:”/companies/people/inside-the-mind-of-intel-s-new-ceo-disrupt-and-leapfrog-11741943798963.html”}},{“id”:11741971403028,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003eAccording to a u003ciu003eMoneycontrolu003c/iu003e report, Garyali will have to turn around the u003ca class=”manualbacklink” target=”_blank” href=”https://www.livemint.com/topic/microfinance”u003emicrofinance u003c/au003elender, which posted a net loss of u003cspan class=’webrupee’u003e₹u003c/spanu003e1,060 crore for the nine months ended December 2024, compared to a net profit in the same quarter in the previous financial year.u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false},{“id”:11741971403028,”articleType”:”element”,”name”:”paragraph”,”title”:””,”type”:”paragraph”,”subType”:null,”paywallElement”:false,”paragraph”:{“body”:”u003cpu003eFusion Finance shares closed 3.33 per cent lower at u003cspan class=’webrupee’u003e₹u003c/spanu003e141 after Thursday’s market session, compared to u003cspan class=’webrupee’u003e₹u003c/spanu003e145.85 at the previous stock market close. The announcement of the new CEO appointment was made on Friday, March 14. Indian stock markets were closed due to the Holi 2025 holiday on Friday.u003c/pu003e”},”bgParaColor”:{“name”:””,”code”:””},”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:false}],”amazonAds”:null,”flipkartAds”:null,”cromaAds”:null,”containAffiliateEmbed”:false,”affiliateEmbedHeadline”:true,”headline”:”Former Lu0026amp;T Finance official Sanjay Garyali appointed as CEO of microfinance lender Fusion Finance”,”summary”:”Fusion Finance has appointed Sanjay Garyali as its new CEO. He was Chief Executive – Urban Finance of Lu0026amp;T Finance and also has experience working with Kotak Mahindra Bank.u0026nbsp;”,”quickReadSummary”:””,”mobileHeadline”:”Former Lu0026amp;T Finance official Sanjay Garyali appointed as CEO of Fusion Finance”,”leadMedia”:{“id”:null,”mediaType”:””,”elements”:[11741974116338],”image”:{“images”:{“600×338″:”https://image.cdnwindow.com/image/wordpress/2025/03/20250315174007783.jpg”,”500×281″:”https://www.livemint.com/lm-img/img/2025/03/14/500×281/investor_1735749033897_1741974116103.jpg”,”mediumImage”:”https://www.livemint.com/lm-img/img/2025/03/14/250×250/1654961882518_1741974123244_1741974129648.jpg”,”1600×900″:”https://image.cdnwindow.com/image/wordpress/2025/03/20250315174005266.jpg”,”140×140″:”https://www.livemint.com/lm-img/img/2025/03/14/140×140/1654961882518_1741974123244_1741974129648.jpg”,”resolution”:”2000*1350″,”1000×563″:”https://www.livemint.com/lm-img/img/2025/03/14/1000×563/investor_1735749033897_1741974116103.jpg”,”optimize”:”https://www.livemint.com/lm-img/img/2025/03/14/optimize/investor_1735749033897_1741974116103.jpg”,”ampImage”:”https://image.cdnwindow.com/image/wordpress/2025/03/20250315174005266.jpg”,”thumbnailImage”:”https://www.livemint.com/lm-img/img/2025/03/14/90×90/1654961882518_1741974123244_1741974129648.jpg”,”fullImage”:”https://www.livemint.com/lm-img/img/2025/03/14/960×540/investor_1735749033897_1741974129648.jpg”,”height”:”1350″,”original2″:”https://www.livemint.com/lm-img/img/2025/03/14/original/1654961882518_1741974123244.jpg”,”90×90″:”https://www.livemint.com/lm-img/img/2025/03/14/90×90/1654961882518_1741974123244_1741974129648.jpg”,”thumbnail”:””,”original”:”https://www.livemint.com/lm-img/img/2025/01/01/original/investor_1735749033897.jpg”,”250×250″:”https://www.livemint.com/lm-img/img/2025/03/14/250×250/1654961882518_1741974123244_1741974129648.jpg”,”bigImage”:”https://image.cdnwindow.com/image/wordpress/2025/03/20250315174007783.jpg”,”960×540″:”https://www.livemint.com/lm-img/img/2025/03/14/960×540/investor_1735749033897_1741974129648.jpg”,”quality”:”80″,”382×214″:”https://www.livemint.com/lm-img/img/2025/03/14/382×214/investor_1735749033897_1741974116103.jpg”,”size”:”321″,”width”:”2000″,”fileFormat”:”JPEG”},”caption”:”Sanjay Garyali was appointed as the CEO of Fusion Finance on March 14. “,”name”:””,”alternateText”:””,”imageCredit”:”LinkedIn”,”overImage”:false,”verticalImage”:false,”width”:2000,”height”:1350,”imageUrl”:””},”video”:null},”timeToRead”:2,”introBody”:””,”related”:null,”showRelated”:false,”paywallElement”:false,”twoLinerText”:”Catch all the u003ca href=”https://www.livemint.com/”u003eBusiness News u003c/au003e, u003ca href=”https://www.livemint.com/companies” u003e Corporate news u003c/au003e, u003ca href=”https://www.livemint.com/news”u003eBreaking News u003c/au003eEvents and u003ca href=”https://www.livemint.com/latest-news”u003eLatest News u003c/au003e Updates on Live Mint. 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