AVTAR MONGA , BIMTECH Alumnus
Appointed as IDFC’s New Chief Operating Officer
MY JOURNEY – BEFORE AND AFTER BIMTECH
After having worked with Bank of America for over 16 years, I had joined GE Capital as part of their SBI Card joint venture as part of their management team leading various functions. Although I had completed Masters in Commerce and had vide ranging experience, there was a need felt to enroll into a MBA equivalent program and given the fact that I was leading a significant responsibility I had a distinct preference to do it as a regular rather than a Fast Track or remote learning. BIMTECH provided me with the opportunity to pursue my passion.
I had an interesting time at BIMTECH as during the first year I had been moved up to lead one of GE Capital companies (GE Capital TFS Ltd) as its Chief Executive Officer and I had to always be very careful not to let it be known widely as it would be resulted in me getting a unwarranted special treatment from my co-students as well as others. It was great to balance by professional responsibility while enhancing my education at BIMTECH. There were days when I had to juggle between board meetings and examinations and travel extensively but thanks to the weekend classes and flexibility by the faculty I was able to live my dream at BIMTECH.
The learning I received at BIMTECH allowed me to relate the knowledge to the practical aspects of running a successful business. At the time of passing the final year, I was head of SBI Card processing JV as its Chief Executive Officer. It was fascinating to get reminded of the different subjects/tools I had learnt many years ago as well as learn many new things which made me ready for better things in professional life.
I re-joined Bank of America in 2003 to start their Global Offshore Delivery centers in India as Managing Director and over the last nine years, the program has grown to a significant level and has been performing. The current responsibility includes heading the centers beyond India and in other locations in Latin America as well as Asia. In addition, the success of what we have built resulted in the company making the team also responsible for leading some of the operational excellence initiatives across the company.
Although we have achieved several milestones, the journey continues as we continue to learn to operate in global environment and across different geographies and cultures. As business leaders, you have to constantly learn and evolve to keep pace with ever changing global environment and business needs. The education we received at BIMTECH combined with the practical experience became the foundation for the journey to continue. Although I do not see myself as someone who is equipped to
give any advice, I would probably suggest that BIMTECH has always been forward thinking institution which has focused on futuristic models whether it is in the space of Insurance when no one had started or the Environmental areas. It has also been focused on building the faculty which is truly inspiring.
My only advise to the students would be to value every day at BIMTECH and constantly focus on learning not only from the class room but also from teachers and other students and create a foundation and network which can be leveraged for rest of your professional career.
[Read the news in The Economic Times]
Avtar Monga is IDFC’s new Chief Operating Officer
MUMBAI: Integrated infrastructure finance company IDFC today appointed veteran banker Avtar Monga as its chief operating officer (COO). Monga will be responsible for building the operating architecture for the new businesses that IDFC group will launch, the city-based company said.
Monga, who has 32 years of experience in the banking and financial industry, was with Bank of America as senior executive of its global delivery centres of expertise) globally prior to this appointment. Monga was also with GE Capital India where he led their transport financial services business as its chief executive. He was also the chief executive of their credit card joint venture with State Bank of India.
IDFC, which was set up by the government in 1997 as a private sector infra lender by a consortium of public and private investors, has applied for banking licence, which the RBI will announce by this month-end. It facilitates private investment and public-private partnerships in infrastructure projects in sectors where market structures, government policy and regulation are evolving.