Max Financial Services re-appoints Mohit Talwar as managing director for 1 year

Max Financial Services on Wednesday said it has re-appointed Mohit Talwar as its managing director for one year, from mid-January next year.

The company's board of directors, in its meeting held on Tuesday (November 9), recommended the re-appointment of Mohit Talwar as the firm's managing director for a further period of one year with effect from January 15, 2022, Max Financial Services said in a regulatory filing.

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The extension to Talwar has been given to provide continuity to the key initiatives that are currently underway, it added.

Talwar's re-appointment is subject to regulatory and shareholders' approval.

A veteran in corporate finance and investment banking, Talwar has spent over 24 years in wholesale banking across global organisations such as Standard Chartered, ANZ Grindlays and Bank of Nova Scotia, prior to joining the Max Group.

Apart from being the MD of Max Financial Services Ltd (MFSL), the listed parent company of Max Life, he is also a member on the board of the life insurance company. Talwar is also a non-executive director of Max India.

He had stepped down from his role as the vice-chairman of Max Group and managing director of Max India -- the group's holding company for its senior care business -- effective January 15, 2021. He also stepped down from the boards of Max Ventures & Industries and Antara.

He was instrumental in structuring the Axis transaction, which led to significant value creation for all the shareholders and also forged many other key deals for the group.

Under his term, MFSL's market cap increased four times over the past five years, the company said.