CASHe appoints former BoB MD & CEO PS Jayakumar as Non-executive Director

CASHe, the financial wellness platform, has recently appointed P S Jayakumar as a non-executive director, effective from July 5, 2022. Jayakumar, the former Managing Director and Chief Executive Officer of Bank of Baroda, now joins the board of Aeries Financial Technologies, which serves as the holding company for CASHe’s NBFC arm.

Jayakumar, a seasoned banker with nearly four decades of experience, is renowned for his groundbreaking efforts in digitizing the retail financial sector. In 2015, he was selected by the Government of India to lead Bank of Baroda as its MD & CEO for a four-year term, which was later extended by one year. His appointment as the first private banker to head a state-run bank marked a significant milestone. Jayakumar is credited with successfully guiding the bank’s transformation across various facets, including business, digitalization, technology, compliance, controls, organization, and human resources. Notably, during his tenure, he oversaw the successful merger of Bank of Baroda with Vijaya and Dena Bank, resulting in the creation of the third-largest lender and the second-largest public-sector bank in India.

Prior to his role at Bank of Baroda, Jayakumar spent over 23 years at Citibank, serving in various senior strategic positions in both the Indian and Singaporean markets. His roles included Managing Director for Citi Financial Ltd, Managing Director and Head of Citibank Consumer Loan for multiple APAC countries, Country Head of Citibank Consumer Business, and Head of Balance Sheet Management, Asia Pacific. Additionally, he served as a Board Member in several of Citibank’s subsidiary companies in India.

Following his tenure at Citibank, Jayakumar embarked on an entrepreneurial journey in 2008, where he launched two ventures: Value Budget Housing Company and Home First Finance. These ventures significantly contributed to addressing the demand-supply gap in low-cost and affordable housing.