Brickwork Ratings diversifies its Board with Santosh B Nayar as Chairman

Bengaluru, Karnataka, India – Brickwork Ratings (BWR) has diversified and broadened its Board with additional Independent Directors having expertise in banking, ratings, law, information technology and corporate business. The Board’s Independent Directors include Mr. Santosh B Nayar, Mr. M R Hegde, Prof. S Sadagopan, Mr. T Y Prabhu, Mr. Chandru Badrinarayanan and Ms. Sudha Ravi. BWR has appointed Mr. Santosh B Nayar as the Chairman of the Board.

With an illustrious career spanning nearly four decades in the Banking Industry, Mr. Nayar brings a wealth of experience in Corporate, Investment, Retail, and International Banking, Project Finance, and Life Insurance. Nayar’s appointment reflects Brickwork Ratings’ commitment to excellence and reinforces its position as a trusted partner in the financial industry.

Mr. Nayar served as the Chairman and Managing Director at India Infrastructure Finance Company Limited (IIFCL), where he played a pivotal role in shaping reforms in the infrastructure sector. His contributions include serving as a member of the Dr Kelkar Committee on Revisiting and Revitalizing the PPP Model of Infrastructure Development and chairing the Committee for the resolution of large, distressed infrastructure and core industry projects. He currently serves as the Chairman of Reliance Nippon Life Insurance Company Limited.

On his appointment as Chairman, Mr. Nayar said, “I am committed to revitalizing Brickwork’s opportunities by emphasizing professionalism and leveraging technology. Our newly formed Board, with its distinguished background and diverse expertise, is integral to this endeavour.”

Nayar’s leadership extends to his tenure as the Managing Director and CEO of IFCI Limited in 2013, as well as his role as the Deputy Managing Director and Group Executive of Corporate Banking at the State Bank of India (SBI). At SBI, he headed various divisions, including Corporate Business, Project Finance, Infrastructure Lending, Financial Institution Business Group, Transaction Banking Group, Cash Management, and Capital Markets.

His international banking experience includes roles at SBI’s Hong Kong branch and in investment banking with SBI Capital Markets. Notably, Nayar was a key member of the team that established SBI Life Insurance Co Ltd., a joint venture with a French Insurance company.

“We are delighted to welcome Mr. Santosh B Nayar as the Chairman of Brickwork Ratings. His extensive experience and deep understanding of the financial sector will be invaluable as we continue to provide robust credit rating services and support the growth of businesses,” said Alok Kedia, Managing Director and CEO at Brickwork Ratings.

BWR is confident that these highly experienced professionals will add to the credibility of the Board while also bringing in best practices in strategic decision-making, risk management and corporate governance matters.

About BWR

Established in 2007, Brickwork Ratings (BWR) provides credit rating services for a range of financial instruments including bank loans, NCDs, commercial paper, bonds, and securitized paper. The company is headquartered in Bengaluru and has a presence across the nation.