Mahindra Rural Housing Finance, a subsidiary of Mahindra and Mahindra Financial Services Ltd, announced the appointment of Shantanu Rege as managing director and CEO.

Rege will take over for Rajnish Agarwal, who stepped down on September 30. Rege joined the company in 2012 as an executive assistant to Anand Mahindra, the group chairman. Following this, he became the chief operating officer of a rural housing company in 2016. According to a statement, he has played a pivotal role in driving growth opportunities within the rural housing business and spearheaded the establishment of the affordable housing business.

Rege holds an MBA from Harvard Business School and previously worked in Mumbai for McKinsey & Co and Blackstone.

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According to the statement, Mahindra Rural Housing Finance has made commendable progress on all fronts, including digital transformation, institutionalizing strong organisational and people processes, and constantly pushing the envelope when it comes to exploring new products and geographies.