Sanjiv Bajaj | |
---|---|
Born | 2 November 1969 |
Nationality | Indian |
Alma mater | University of Pune, University of Warwick, Harvard University |
Occupation | Businessman |
Title | Chairman & MD, Bajaj Finserv |
Term | 2008–present |
Spouse | Shefali Bajaj |
Children | 2 |
Parent(s) | Rahul Bajaj, Ruparani Bajaj |
Relatives | See Bajaj Family |
Sanjiv Bajaj (born 2 November 1969) is an Indian billionaire businessman who currently serves as the Chairman and Managing Director of Bajaj Finserv.[1][2]
Born into the Bajaj family, Sanjiv is the great-grandson of founder Jamnalal Bajaj and the younger son of Bajaj Group chairman Rahul Bajaj.[3] He completed his education at a Swiss missionaries-run Catholic convent school.[4] He then pursued his mechanical engineering degree from the University of Pune, masters degree in manufacturing systems engineering from the University of Warwick, and his management degree from Harvard Business School.[5][6][7]
Bajaj began his career in 1994 with Bajaj Auto.[8][9] During his years at Bajaj Auto, he dabbled in various roles,[10][11] including heading finance, legal, & international business functions within the organisation.[12][13][14] He was credited with bringing American-style supply chain management to Bajaj Auto, using General Motors as a model.[15] In addition to adopting top management methods, he advocates for a frugal business model[16] and the "break to grow" philosophy.[17] Currently, he is serving as the non-executive director of Bajaj Auto.[18]
After Bajaj Auto's demerger in 2007, Bajaj took charge as the managing director of Bajaj Finserv.[19][20] Also, he took on additional roles like the chairman of Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance, vice chairman of Bajaj Finance, and managing director of Bajaj Holdings & Investment Limited in 2012.[21]
Market analysts indicated in 2015 that Bajaj is shaping his company in a manner similar to GE Capital.[22] By 2017, under his leadership, Bajaj Allianz General Insurance became the 2nd most profitable insurance company in India.[23] In the year 2023, he spearheaded the launch of Bajaj Finserv Mutual Fund into the Indian market.[24] Essentially, he is known for establishing a diversified non-banking finance entity. The rationale behind his move is to avoid the vulnerability faced by monoline companies during downturns, as observed in private sector banks.[22]
Sanjiv was the deputy chairman of the Confederation of Indian Industry (CII) Western Region for 2018-19.[25] He was also elected as the chairman of the CII Western Region for 2019-20.[26] For 2020-21, he was elected as the vice president of CII.[27] In June 2021, he got elected as the President Designate of CII for 2021-22.[28][29] and in May 2022, he took charge as the President of CII for 2022-23.[30][31]
Currently, he is the chairman and managing director of Bajaj Finserv.[32][33][34] He was reappointed as managing director for five years in May 2022.[35]
As a part of the Confederation of Indian Industry's B20 India Secretariat, Bajaj was appointed as one of the B20 India participants, a position in which he fulfilled a part of a group that led the business agenda during India's G-20 presidency.[36][37]
In January 2022, Bajaj and his company's higher management were threatened by a hacker for a possible cyber security attack on his group companies.[38]
Sanjiv is married to Shefali Bajaj and has two kids.[7]