|| Gang Of Nalayaks and A Besharam || #15 (IO) - Page 105

Billionaire Anil Ambani's elder son Jai Anmol on Tuesday joined the board of Reliance Capital after two years of training.

The board of directors of Reliance Capital on Tuesday approved the induction of Mr. Anmol on its board as an Additional Director, the company said in a statement.

Anmol Ambani (24) has been working in various financial services businesses within Reliance Capital since 2014.

Besides, chairman Anil Ambani, Mr. Anmol is the only other family member to have joined the board of the financial services arm of Reliance Group. He will become the full-time executive director at the forthcoming annual general meeting (AGM) next month.

He has been actively involved in internal business reviews across companies and has also been part of interactions with Nippon Life for increasing stake in Reliance Life Insurance and Reliance Capital Asset Management in the last two years.

The induction follows the recommendation by the nomination and compensation committee of the Board of Reliance Capital, comprising largely of Independent Directors.

"We would like to welcome Anmol on the board of Reliance Capital. Anmol has been a fast learner, active participant in all reviews and displayed sharp business acumen in various decision making processes," Reliance Capital Group CEO and ED Sam Ghosh said.

Mr. Anmol, who has a degree from Warwick Business School in the UK, said he has been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in last two years.

"The last two years have given me great learnings about the financial services business. I look forward to using this experience for scaling up our businesses and contributing towards their growth and progress," he said.

With a revenue of over Rs 4,000 crore, Reliance Capital has various verticals dealing with life insurance, commercial finance, securities, general finance and mutual funds.

Mr. Anmol's cousin Akash is employed with father Mukesh Ambani's company, Reliance Industries.