India's leading micro-finance institution, Hyderabad-based SKS Microfinance, has announced the appointment of Suresh Gurumani as Chief Executive Officer of the firm. Gurumani is a banking and financial sector veteran, and was till now Director, Consumer Banking at Barclays. In Barclays, Gurumani was working on mobile banking, retail banking and consumer products.
A Chartered Accountant, Gurumani has 22 years of experience in and has also worked with Standard Chartered and Price Waterhouse Coopers. SKS has recently raise $76 million in fourth round of funding led by Sandstone Capital. After the new round, Akula has decided to take a much more strategic role at the firm.
"SKS has reached a stage in its evolution where it needs a CEO with Gurumani's vast experience in banking. He will be responsible for the day to day management of SKS Operations," said Vikram Akula, Founder, SKS Microfinance.