Edelweiss Asset Reconstruction Company has appointed veteran banker Arun Mehta as its managing director and chief executive officer.
Mehta takes over from interim managing director and chief executive officer Mythili Balasubramanian, the company said in a press note. Prior to this, the post was held by former IDBI Bank executive Raj Kumar Bansal till June 2024.
In June 2024, the Reserve Bank of India(RBI) declined permission to reappoint Bansal as the managing director and chief executive officer amid allegations of evergreening of loans. While the RBI barred Edelweiss ARC from acquiring new stressed loans on its books in the same month, the central bank lifted business restrictions on the asset reconstruction company in December that year.
In the new role, Mehta will utilise his experience across corporate banking, international banking, structured finance, loan syndication and capital markets to further strengthen the company’s ability to deliver on these strategic priorities and continue creating long-term value for all stakeholders, the press note said.
The appointment comes at a time when the asset reconstruction and resolution landscape is changing with new opportunities arising in retail and MSME stressed assets segments, according to the press note. Edelweiss ARC said it acquired Rs 1,363 crore of retail assets in FY26. The share of retail assets in capital employed rose to 29% in FY26 from 18% a year earlier.
Mehta brings over four decades of experience across banking, financial services and capital markets, spanning both domestic and international markets. He spent over three decades at State Bank of India, where he held leadership positions across corporate banking, international banking, structured finance, loan syndication, equity capital markets and debt capital markets.
He served as Managing Director and CEO of SBI Capital Markets (SBICAP), the investment banking arm of SBI, for over two years.
Separately, Mehta has also served as an independent director on the boards of IDBI Capital Markets, Axis Trustee Services and DSP Finance.
