Mahindra Rural Housing Finance Ltd., the rural housing finance arm of Mahindra Group, appointed Shantanu Rege as the managing director and chief executive officer of the company.

He succeeds Rajnish Agarwal, who stepped down from the company on 30 September 2022, the mortgage lender, a subsidiary of Mahindra & Mahindra Financial Services Ltd., said in a statement.

Rege worked as an executive assistant to Mahindra Group Chairman Anand Mahindra in 2012 and later moved to the group’s rural housing business in 2016 as its chief operating officer, it added.

An alumnus of Harvard Business School and the Indian Institute of Technology (Bombay), Rege has also previously worked with McKinsey & Co. and Blackstone in Mumbai, according to the statement.