LIC Housing Finance Limited (LIC HFL) announced the appointment of Siddhartha Mohanty as Additional Director and Non-Executive Chairman and Jagannath Mukkavilli as Additional Director on the company’s Board, with effect from April5, 2023.
Siddhartha Mohanty, was elevated as Managing Director of LIC of India on 1st February 2021 and presently is the Managing Director & In-charge since 14th March, 2023. He has the distinction of working over 37 years in LIC and in all major streams that included Marketing, Personnel, Legal, Corporate Planning, Estates, Marketing Channel and Investments besides heading LIC Housing Finance Limited.
A Post Graduate in Arts, LLB, P and Licentiate, having rich expertise and knowledge in insurance and financial markets. Strong ability to solve complex problems using appropriate decision-making skills. He had earlier served as the Managing Director & Chief Executive Officer of LIC Housing Finance Ltd. (LIC HFL) between 2019 to January 2021.
Prior to taking over as MD & CEO of LIC Housing Finance, Mohanty was the company’s COO. Mohanty started his career as a direct recruit officer with LIC of India in 1985 and has risen through the ranks to this senior position. Before joining UC Housing Finance, he was Executive Director- Legal with UC of India. In a career spanning over three decades in the Corporation, Shri. Mohanty has made his mark in the areas of Marketing, HR, Investments and Legal. He has served as Chief of Investments (Monitoring), Regional Head of a marketing vertical of LIC’ s Western Zone spanning the States of Maharashtra, Gujarat and Goa. He was the Senior Divisional Manager in-charge of Raipur and Cuttack divisions of UCL.
Mohanty is a Post Graduate in Political Science with a degree in Law. Other qualifications include post-graduation in Business Management and Licentiate from the Insurance Institute of India.
M Jagannath, has taken charge as Managing Director of Life Insurance Corporation of India on 13th March, 2023. Joining UC in the year 1988 as a Direct Recruit Officer, Jagannath brings with him rich experience of over three decades across various functions of the Corporation. Before taking charge of the current assignment, he was the Zonal Manager (In Charge) of South Central Zone, where he led the Zone’s transformation by driving performance on vital metrics.
Under his stewardship, the Zone scripted newer heights in New Business growth by nurturing a performance-oriented culture and driving a consumer-centric service model. Earlier, he was Head of Bancassurance for the South Central Zone and thereafter, the Regional Manager (Marketing) of the same Zone at Hyderabad and Bangalore locations. He also held the helm of Ernakulam, Dharwad and Bangalore-I Divisions in his earlier role as Senior Divisional Manager.
Jagannath’ s international experience comes from his tenure as Chief Executive Officer and Manager Director of UC (Lanka) Ltd., Colombo, Sri Lanka between 2009 and 2013.
Jagannath holds a Post-Graduate Diploma in Marketing, International PostGraduate Diploma in Life Insurance, General Insurance & Risk Management from the Institute of Insurance and Risk Management (IIRM), Hyderabad. He is an Associate of the Insurance Institute of India, Mumbai.
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