Arcil appoints Pallav Mohapatra as new CEO, MD

Asset Reconstruction Company of India (Arcil) on Tuesday announced the appointment of Pallav Mohapatra, former chief of Central Bank of India, as the company's chief executive officer and managing director.

He succeeds Vinayak Bahuguna, whose five-year term ended in June 2020.

Mohapatra will be responsible for leading the strategic direction and growth journey of the organization, Arcil said in a release.

A former deputy managing director (stressed assets management group) of State Bank of India, Mohapatra retired as Central Bank's Managing Director and Chief Executive Officer last month.

At SBI, he handled various assignments including as vice-president (credit and forex) of SBI (California), Los Angeles, USA; managing director of SBI Custodial Services; and chief executive officer of SBI Cards & Payment Services.

Founded in 2002, Arcil currently manages assets under management of Rs 12,000 crore in non-performing loans. Its shareholders include Avenue Capital, SBI, IDBI, ICICI, PNB, and several other domestic and international investors including GIC Singapore.

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