- Date written
- August, 2023
- Contact for guarantco
- Alison Hicks
- Communications Consultant
- +44 (0)738 5551967
- alison.hicks@guarantco.com
- Contact for PIDG
- Cecille Sorhus
- Chief of Staff and Head of Communications
- +44 (0)7917 302724
- cecille.sorhus@pidg.org
- Cardano Development
- Fleur Henderson
- Senior Project Director
- +31 (0) 611381401
- f.henderson@cardanodevelopment.com
- Share
GuarantCo Management Company (GMC), GuarantCo’s fund manager and a subsidiary of Cardano Development, has appointed Chinmay Naralkar as Chief Risk Officer (CRO), effective 21st August 2023, to ensure that GuarantCo, a Private Infrastructure Development Group (PIDG) company, is well prepared to deliver against future growth opportunities to the benefit of local people across Africa and Asia.
Chinmay joins GuarantCo from ICICI Bank where he managed teams in India and the United Kingdom responsible for conceptualisation and implementation of enterprise risk management, stress testing, capital management frameworks and development of expected credit loss models for IFRS 9. During his career, he has also been responsible for credit underwriting and business development in corporate banking.
Chinmay has a Bachelor’s in Engineering from Mumbai University and an MBA from NMIMS University, Mumbai. He has been a CFA charter holder from the CFA Institute and a certified Financial Risk Manager from the Global Association of Risk Professionals.
In his new role, Chinmay will be part of the GMC Senior Management Team and the GMC Board. He will be working closely with various teams across GMC, PIDG and Cardano Development to lead all risk and compliance initiatives and will be responsible for developing risk strategies which ensure that GuarantCo and GMC operate within a defined risk appetite. He will also work closely with PIDG senior management as part of PIDG’s recently launched strategy.
Layth Al Falaki, CEO of GuarantCo, said:
“We are delighted that Chinmay has joined GuarantCo Management Company. Since 2005, GuarantCo has become renowned as a centre of excellence for infrastructure finance local currency credit solutions and is delivering on its mission to help alleviate poverty in lower income countries across Africa and Asia. Chinmay’s extensive and relevant experience will make a significant contribution to furthering this mission. He will be pivotal in helping us develop the strategic direction of the business and deliver against our ambitious business plan”.