Houston, TX – June 21, 2022— Mahindra Finance USA today announced the appointment of Javier Pelaez as the Mahindra Finance USA Joint Venture (JV), Managing Director. In his role, Pelaez will lead the JV management team consisting of Sales, Operations and Risk to develop and implement financial products and services to drive growth for Mahindra Ag North America (MAgNA) and its dealers in the U.S.
“We are excited to announce Javier’s appointment in coordination with the recently signed renewal of the Mahindra Finance USA joint-venture program,” said Rod Versteegh, President of DLL’s Food and Agriculture Global Business Unit. “Javier’s track record throughout his career is a testament to his passion for the industry and his commitment to building continued success.”
Additional responsibilities include a focus on the strategy, direction and financial performance of the JV, as well as engaging with the MAgNA and Mahindra Financial Services Limited (MMFSL) organizations.
Speaking on the appointment, Ramesh Iyer, VC & MD, Mahindra Finance mentioned, “It is our pleasure to welcome Javier to the leadership team of Mahindra Finance USA. As we diversify our offerings within the US market, the next 3-4 years could really be critical capitalizing on all emerging opportunities. I am sure that Javier’s two-decade plus experience and leadership will take Mahindra Finance USA to greater heights.”
Pelaez has over 20 years of experience in banking, leasing, and financial services, and has been with DLL since 2004 in both Europe and North America regions. Pelaez holds a Bachelor of Economics and a Bachelor of Business Administration from the University of Alcala de Henares, Madrid, and has a strong professional background serving various roles including Risk Management, Program Management and Country Sales Management.
Mahindra Finance USA (MFUSA) is a joint venture between Mahindra and Mahindra Financial Services Limited (MMFSL), Mahindra Group’s financial services company headquartered in Mumbai, India and De Lage Landen Financial Services, Inc. (DLL), a wholly owned subsidiary of Rabobank Group. Located in Houston, Texas, MFUSA is the financier for Mahindra’s U.S. based subsidiaries. MFUSA provides Retail and Wholesale financing solutions to Mahindra Ag North America, its dealers and end-users throughout the U.S.
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DLL is a global vendor finance company with more than EUR 30 billion in assets. Founded in 1969 and headquartered in Eindhoven, The Netherlands, DLL provides asset-based financial solutions in the Agriculture, Food, Healthcare, Clean Technology, Construction, Transportation, Industrial, Document Imaging and Technology industries. DLL partners with equipment manufacturers, dealers and distributors in more than 30 countries to support their distribution channels and help grow their businesses. DLL combines customer focus with deep industry knowledge to deliver sustainable solutions for the complete asset life cycle, including commercial finance, retail finance and used equipment finance. DLL is a wholly owned subsidiary of Rabobank Group. To learn more about DLL, visit www.dllgroup.comand on social at Twitterand LinkedIn.
About Mahindra Ag North America
Mahindra Ag North America (MAgNA) is part of Mahindra Group’s Automotive and Farm Sector, the No. 1 selling farm tractor company in the world, based on volumes and the only tractor manufacturer in the world to win the industry’s top two quality awards – the Deming Application Prize and the Japan Quality Medal, care of Union of Japanese Scientists and Engineers. Mahindra serves the agricultural and rural lifestyle customers in the United States and Canada by partnering with a network of independently owned dealerships. Houston, Texas, based, MAgNA is a wholly owned subsidiary of Mahindra & Mahindra Ltd. and began selling tractors in the USA in 1994. To learn more about Mahindra Ag North America, please visit us online at www.MahindraUSA.com and on social at Facebook, Twitter, Instagram and YouTube.
About Mahindra & Mahindra Financial Services Limited (MMFSL)
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 7.3 Million customers and has an AUM of over USD 11 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has 1,388 offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country.
Mahindra Finance has been ranked 54th among India’s Best Companies to Work 2021 by Great Place to Work Institute.
Learn more about Mahindra Finance on www.mahindrafinance.com / Twitter and Facebook: @MahindraFin
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room