Grihum Housing to Appoint Ex-Citi Banker Arjun Chowdhry as CEO

Grihum Housing Finance, a TPG-backed mortgage lender, is set to appoint Arjun Chowdhry, a former Citibank and Axis Bank executive, as its new Managing Director and CEO. The announcement follows the resignation of current MD & CEO Manish Jaiswal, effective August 31, who will continue in an advisory role until December 31.

Leadership Transition at Grihum

From Manish Jaiswal to Arjun Chowdhry

Grihum announced Jaiswal’s resignation via a stock exchange notice on August 21, stating that it would name a successor shortly. With Chowdhry’s imminent appointment, the company signals a strategic leadership shift aimed at expanding outreach to low-income housing segments.

Chowdhry brings over two decades of financial sector experience, including,

• Senior roles at Citibank, particularly in retail banking
• Head of Retail Lending and Credit Cards at Axis Bank for over two years
• Recently stepped down to “pursue entrepreneurial ambitions,” now redirected toward Grihum’s leadership

Strategic Direction and Leadership Profile

Why Arjun Chowdhry?

TPG and Grihum’s board view Chowdhry’s expertise in underwriting and credit assessment, especially in retail credit and risk management, as crucial for the company’s mission of catering to economically weaker sections (EWS) and low-income groups (LIG). These segments are often underserved due to higher perceived credit risk.

Key strategic expectations include,

• Deepening loan penetration in rural and semi-urban areas
• Strengthening digital credit delivery systems
• Enhancing risk-adjusted lending models for informal sector borrowers

Broader Industry Moves

Parallel Shifts in the Housing Finance Sector

Alongside changes at Grihum, the sector is witnessing other key transitions,

• Girish Kousgi, outgoing MD of PNB Housing Finance, is set to join IIFL Home Finance as CEO
• Monu Ratra, previous CEO at IIFL, stepped down to explore new career opportunities
• Kousgi will remain at PNB Housing until October 28 to ensure a smooth transition

These moves reflect rising competition and leadership realignments in the affordable housing finance market, a space that is poised for growth with rising demand and policy support.