Three former senior regulators - Lily Vadera, former Executive Director, Reserve Bank of India, PK Nagpal, former Executive Director, SEBI and Nilesh Sathe, former Whole Time Member of the IRDAI - have joined Cyril Amarchand Mangaldas as Senior Advisors.
This move aims to strengthen the firm's Financial Institutions Group (FIG) and regulatory bench.
Vadera has served RBI for more than three decades and headed the crucial department of regulation where she dealt with the regulatory framework for various entities in Financial sector, covering all categories of banks and non-banking finance companies.
She framed regulations for Fintech players and played significant role in amalgamation of banks in stress. She also played an important role as a member of Insolvency Law Committee set up by Ministry of Corporate Affairs.
Nagpal has about 40 years of experience. At SEBI, he was involved in formulation of policies and reforms in various segments of securities markets and enforcement of regulations. He had chaired the IOSCO Committee on accounting, audit and disclosures comprising of 33 jurisdictions, committees of financial sector regulators in India, Committee on Stewardship Code and Standing Committee on Credit Rating Agencies. He also held the charge of Director, NISM.
Sathe was the Chief Executive Officer (CEO) at LIC Nomura Mutual Fund Asset Management Company and Executive Director at the Life Insurance Corporation of India (LIC) before he joined IRDAI.
Cyril Amarchand Mangaldas now has an integrated regulatory and policy advisors’ bench, a first of its kind in India which will offer complete business, sectoral and regulatory advice to its clients.
The regulatory bench already includes Anand Sinha, former regulator and Deputy Governor, RBI; S Ganesh Kumar, former Executive Director, RBI; J. Ranganayakulu, former Executive Director and Legal Head, SEBI; Arjun Goswami, former Chair, Regional Cooperation & Integration (RCI) Thematic Group, Asian Development Bank (ADB), Manila, and B. Sriram, former Managing Director of the State Bank of India (SBI).