Another Odia at top finance job, Siddhartha Mohanty appointed as new LIC MD

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The Union government has appointed another Odia person at a top-level finance job in the country. Siddhartha Mohanty, currently serving as the managing director and chief executive officer of LIC Housing Finance, will be the new MD of India’s largest insurer Life Insurance Corporation (LIC) from February 1.

He will serve as the MD of LIC till his superannuation on June 30, 2023. Mohanty will be replacing TC Suseel Kumar.

LIC has four MDs and one chairman. Currently, MR Kumar is the chairman of the corporation and other MDs are Vipin Anand, Mukesh Kumar Gupta, and Raj Kumar.

Prior to taking over as MD & CEO of LIC Housing Finance, one of the largest housing finance companies in India, Mohanty was the company’s Chief Operating Officer. He started his career as a direct recruit officer with LIC of India in 1985 and has risen through the ranks to this senior position. Before joining LIC Housing Finance, he was Executive Director- Legal with LIC of India.

In a career spanning over three decades in the corporation, Mohanty has made his mark in the areas of Marketing, HR, Investments and Legal. He has served as Chief of Investments (Monitoring), Regional Head of a marketing vertical of LIC‘s Western Zone spanning the states of Maharashtra, Gujarat and Goa. He was also the senior divisional manager in-charge of Raipur and Cuttack divisions of LIC.

Mohanty is a Post Graduate in Political Science with a degree in Law. Other qualifications include post-graduation in Business Management and Licentiate from the Insurance Institute of India.

Currently some other Odias serving in top finance jobs in the country are RBI Governor Shakikanta Das, Financial Services secretary Debasish Panda, Girish Chandra Murmu as Comptroller and Auditor General of India, Guruprasad Mohapatra as Secretary, Department for Promotion of Industry and Internal Trade.