Sanjiv Bajaj

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Sanjiv Bajaj
Born (1969-11-02) 2 November 1969 (age 54)
NationalityIndian
Alma materUniversity of Pune, University of Warwick, Harvard University
OccupationBusinessman
TitleChairman & MD, Bajaj Finserv
Term2008–present
SpouseShefali Bajaj
Children2
Parent(s)Rahul Bajaj, Ruparani Bajaj
RelativesSee 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]

Early life and education[edit]

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]

Career[edit]

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]

Bajaj (4th from left) at World Economic Forum Annual Meeting 2023 in Davos, Switzerland

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]

Controversies[edit]

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]

Personal life[edit]

Sanjiv is married to Shefali Bajaj and has two kids.[7]

Awards[edit]

References[edit]

  1. ^ "Lockdown diaries with Sanjiv Bajaj". www.timesnownews.com. Retrieved 1 February 2021.
  2. ^ "Rahul Bajaj to step down as Bajaj Finance chairperson, son Sanjiv Bajaj to take over". Hindustan Times. 21 July 2020. Retrieved 1 February 2021.
  3. ^ John, Nevin (12 September 2022). "'Hamara' Bajaj: The Secret Sauce". Fortune India. Retrieved 30 September 2022.
  4. ^ Raghunathan, Anu. "All In The Family: Meet The 4th-Generation Scion Behind India's Bajaj Finserv". Forbes. Retrieved 2 February 2023.
  5. ^ Harvard Business School Bulletin. Harvard Business School. 2002.
  6. ^ "Sanjiv Bajaj". World Economic Forum. Retrieved 1 February 2021.
  7. ^ a b "Who is Sanjiv Bajaj? Meet Bajaj Finance Ltd's newly appointed Chairman". Free Press Journal. Retrieved 1 February 2021.
  8. ^ "Sanjiv Bajaj resigns as Executive Director of Bajaj Auto". The Economic Times. Retrieved 1 February 2021.
  9. ^ "Sanjiv Bajaj's next big move". www.fortuneindia.com. Retrieved 1 February 2021.
  10. ^ Jain, Apoorva; Thukral, Sonal; Paul, Justin (1 January 2022). "Role of socioemotional wealth (SEW) in the internationalisation of family firms". International Journal of Entrepreneurial Behavior & Research. 29 (1): 1–26. doi:10.1108/IJEBR-12-2021-0961. ISSN 1355-2554. S2CID 246767364.
  11. ^ Ghoshal, Sumantra; Piramal, Gita; Budhiraja, Sudeep (2001). World Class in India: A Casebook of Companies in Transformation. Penguin Books. ISBN 978-0-14-100667-3.
  12. ^ Rao, C. Appa; Rao, B. Parvathiswara; Sivaramakrishna, K. (2009). Strategic Management and Business Policy. Excel Books India. ISBN 978-81-7446-668-6.
  13. ^ Sirkin, Harold L.; Hemerling, James W.; Bhattacharya, Arindam K. (26 April 2012). Globality. Headline. ISBN 978-0-7553-6238-7.
  14. ^ Jain (FCA.), Rajesh (2006). Chains that Liberate, Governance of Family Ties. Macmillan. ISBN 978-1-4039-2869-6.
  15. ^ Maheshwari, R.; Agarwal, Saurabh (17 August 2020). Strategic Management: A publication of SBPD Publishing House (Sanjay Sahitya Bhawan). SBPD Publishing House. ISBN 978-93-5047-656-7.
  16. ^ Nair, Geeta (7 August 2023). "Access to capital easy, but there is a dark side to private equity: Sanjiv Bajaj". The Financial Express (India). Retrieved 13 February 2024.
  17. ^ Bhattacharya, Arindam; Buerkner, Hans-Paul. "Why your company's culture needs a 'fractal redesign'". Fortune. Retrieved 8 March 2024.
  18. ^ "Sanjiv Bajaj resigns as Executive Director of Bajaj Auto". Zee News. 28 March 2012. Retrieved 1 February 2021.
  19. ^ "How Sanjiv Bajaj Turned Bajaj Finserv Into A Financial Powerhouse". Forbes India. Retrieved 1 February 2021.
  20. ^ "In five years, Sanjiv Bajaj comes into his own- Business News". www.businesstoday.in. Retrieved 1 February 2021.
  21. ^ "Rahul Bajaj steps down as Bajaj Finance Chairman; son Sanjiv to take over". Free Press Journal. Retrieved 1 February 2021.
  22. ^ a b Kalesh, Baiju; Sinha, Shilpy (7 October 2015). "How Sanjiv Bajaj has created financial services supermarket". The Economic Times. ISSN 0013-0389. Retrieved 13 May 2024.
  23. ^ Taknet, D. K.; IntegralDMS (22 July 2016). The Marwari Heritage. IntegralDMS. ISBN 978-1-942322-06-1.
  24. ^ Buch, Himadri; Shah, Ami. "Bajaj Finserv is now the 43rd player in mutual funds space. Its task is to leave the crowd behind". The Economic Times. ISSN 0013-0389. Retrieved 28 June 2023.
  25. ^ Pandey, Piyush (29 March 2019). "Sanjiv Bajaj elected as chairman of CII, Western Region for 2019-20". The Hindu. ISSN 0971-751X. Retrieved 1 February 2021.
  26. ^ Pandey, Piyush (29 March 2019). "Sanjiv Bajaj elected as chairman of CII, Western Region for 2019-20". The Hindu. ISSN 0971-751X. Retrieved 1 February 2024.
  27. ^ "CII". www.cii.in. Retrieved 1 February 2021.
  28. ^ "CII elects TV Narendran as new President, Sanjiv Bajaj as President-designate". www.cnbctv18.com. 31 May 2021. Retrieved 27 July 2021.
  29. ^ "Sanjiv Bajaj takes over as CII prez". timesofindia.indiatimes.com. Retrieved 13 May 2022.
  30. ^ "Sanjiv Bajaj takes charge as president of CII". www.livemint.com. Retrieved 13 May 2022.
  31. ^ "Sanjiv Bajaj elected as CII president". www.thehindubusinessline.com. Retrieved 13 May 2022.
  32. ^ "Rahul Bajaj To Step Down As Chairman Of Bajaj Finance". NDTV.com. Retrieved 1 February 2021.
  33. ^ "Rahul Bajaj: Corona hits Bajaj Finance, Sanjiv to replace Rahul Bajaj as chairman | India Business News - Times of India". The Times of India. TNN. 22 July 2020. Retrieved 1 February 2021.
  34. ^ Lele, Abhijit (22 July 2020). "Rahul Bajaj steps down as Bajaj Finance's chairman, son Sanjiv to take over". Business Standard India. Retrieved 1 February 2021.
  35. ^ "Bajaj Finserv reappoints Sanjiv Bajaj as MD for 5 more years". Business Today. Retrieved 12 April 2022.
  36. ^ "B20 India - Governance". www.b20india2023.org. Retrieved 16 March 2023.
  37. ^ "Tata Sons' N Chandrasekaran appointed Chair of B20 India". The Economic Times. 7 December 2022. ISSN 0013-0389. Retrieved 16 March 2023.
  38. ^ "Pune: Bajaj Finserv MD, three other officials receive threat mails; FIR lodged". The Indian Express. 11 January 2022. Retrieved 30 September 2022.
  39. ^ "5th Asia Business Responsibility Summit" (PDF). Asian Centre for Corporate Governance and Sustainability. 10 September 2018.
  40. ^ "Who is Sanjiv Bajaj: The Chairman and MD of Bajaj Finserv and son of Rahul Bajaj; know about this business scion and his net worth". The Financial Express (India). 1 October 2023. Retrieved 13 February 2024.
  41. ^ "Who is Sanjiv Bajaj: The Chairman and MD of Bajaj Finserv and son of Rahul Bajaj; know about this business scion and his net worth". Financialexpress. 1 October 2023. Retrieved 8 March 2024.
  42. ^ "Sanjiv Bajaj – Chairman and Managing Director, Bajaj Finserv". www.ey.com. Retrieved 8 March 2024.
  43. ^ "Sanjiv Bajaj is 2017's EY Entrepreneur of the Year". @businessline. Retrieved 2 February 2021.
  44. ^ "Sanjiv Bajaj: Sanjiv Bajaj is EY Entrepreneur of the Year 2017 - Times of India". The Times of India. TNN. 16 February 2018. Retrieved 2 February 2021.
  45. ^ Team, BS Web (16 February 2018). "Sanjiv Bajaj, MD, Bajaj Finserv is EY Entrepreneur Of the Year 2017". Business Standard India. Retrieved 1 February 2021.
  46. ^ "ET Awards 2018 for Business Leader of the Year: Sanjiv Bajaj, Managing Director, Bajaj Finserv". The Economic Times. Retrieved 1 February 2021.
  47. ^ "Current Affairs 09 April 2019 Digest 5: AIMA Awards 2019; world's first gene edited Lizard". Jagranjosh.com. 9 April 2019. Retrieved 1 February 2021.
  48. ^ "FE Best Bank Awards: Know who are the winners in different categories". The Financial Express. 26 September 2019. Retrieved 1 February 2021.
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