Reliance Asset Reconstruction Co (ARC), part of Reliance Capital, on Monday said it has appointed Ravindra Rao as its new Chief Executive Officer.

The company said Rao has taken over as CEO from Asokan Arumugam, who was leading Reliance ARC for the last four years.

“We are delighted to have a strong senior talent like Ravi come onboard to drive growth of the asset reconstruction business going forward,” Anmol Ambani, Reliance Capital Executive Director, said in a statement.

The statement said Rao has joined Reliance ARC from Fullerton India where he worked in different roles for over six years, with his last assignment being the CEO of the home finance subsidiary.

Reliance ARC is a premier asset reconstruction company with Reliance Capital being the principal sponsor. Other sponsors include Corporation Bank, Indian Bank, GIC of India, Dacecroft and Blue Ridge, the statement added.