Angel One has appointed Arief Mohamad, a former Flipkart executive, as Chief Business Officer for its Direct Business vertical, where he will focus on expanding the digital footprint and driving innovations aimed at enhancing client engagement.
Mohamad brings extensive experience from his tenure at Flipkart, where he recently served as Vice President – Head of Fashion, and has held several other leadership roles, contributing to his deep expertise in scaling digital operations.
This strategic hiring reflects Angel One’s ongoing commitment to leading the fintech revolution in India, underpinned by significant growth metrics such as a 61% year-on-year increase in its client base and a strong financial performance in Q2 FY25, with a 39.1% increase in net profit.
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Listed stockbroking firm Angel One has roped in former Flipkart executive Arief Mohamad as chief business officer- Direct Business.
In his new role, Mohamad will lead Angel One’s direct business vertical, focusing on scaling the company’s digital presence and driving client-centric innovations.
As per Mohamad’s LinkedIn profile, he has been working with Flipkart for over nine years under various roles. He served as the vice president – head of fashion since November 2023.
This comes just days after it was reported that Angel One was set to onboard Mohamad as its new CBO.
Back then, ET reported that Mohamad had already put in his papers at Flipkart, where he was heading the fashion vertical.
“The fintech revolution in India is at an inflection point and Angel One stands at the forefront of this transformation. I am thrilled to join a company that shares my passion for leveraging technology to democratise financial services,” Mohamad said.
At Flipkart, Mohamad held various leadership positions, including vice president of Customer, Growth and Loyalty, and senior director of the Mobiles Business. Prior to Flipkart, he worked with SPAR as Associate Vice President & Head of FMCG (B&M).
Dinesh Thakkar, chairman and managing director of Angel One, said, “As we continue to redefine the financial services landscape through technology, having a capable leader as Arief joining us is truly exciting. His proven track record in scaling digital businesses aligns perfectly with our vision.”
Angel One, formerly known as Angel Broking, was founded in 1996. The company offers broking services, investment advisory, and distribution of financial products. It has seen significant growth in recent years, with its client base reaching 27.5 million as of September 30, 2024, a 61% increase year-on-year.
In the second quarter of FY25, Angel One’s net profit saw a year-on-year increase of 39.1%, reaching INR 423.4 Cr. Total revenue also grew significantly, up 44.5% from the previous year to INR 1,514.7 Cr.
Mohamad’s appointment comes as Angel One aims to strengthen its position in the competitive fintech landscape. The company has been focusing on digital transformation, offering trading platforms across mobile apps, web, and desktop, and using artificial intelligence and machine learning in its ARQ investment engine.
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