Mumbai, Maharashtra, India, February 2026 — Flyhi Financial Services Ltd. (Flyhi Finance) has appointed Subir Ray as Chief Business Officer (CBO). In his new role, Ray will lead key growth priorities including banking and NBFC partnerships, distribution strategy, team-building across multiple locations, and portfolio expansion with a strong focus on risk management, profitability, and operational efficiency.
Announcing the move, Subir Ray shared that after 27+ years across banking and NBFCs, he is bringing his experience to build a partnership-led organization with a long-term growth mindset. He emphasized Flyhi’s commitment towards “growth with purpose, discipline, and a long-term mindset.”
Before joining Flyhi Finance as Chief Business Officer, Subir Ray spent close to four years at Ambit Finvest, where he held senior leadership responsibilities in the unsecured business. He served as Senior Vice President – Unsecured Sales, after earlier working as Vice President – Unsecured, driving sales leadership and expansion in Mumbai and the broader Mumbai Metropolitan Region.
Prior to Ambit Finvest, Ray worked for over two years at New India Cooperative Bank Limited as Business Head – Retail & SME Loans, where he led strategic growth initiatives for retail and SME lending. In this role, he focused on setting up scalable distribution models, driving P&L performance, and building robust processes for sustainable business delivery.
Earlier in his journey, he was the Founder & Chief Executive of Ace Fincorp for over three years, operating across retail & SME loans as well as life and general insurance solutions—adding entrepreneurial capability and business ownership experience to his leadership portfolio.
Ray also spent over five years with Ess Dee Aluminium Group as Finance Head, where he led finance and accounts along with responsibilities across HR, Legal & Compliance, building a cross-functional understanding of organizational governance and operations.
In earlier roles, he served as Director at Infinite Touch Base Training Solutions Pvt. Ltd, Touch Base Capital Pvt. Ltd, and Touch Base Consulting Pvt Ltd, strengthening his leadership breadth across consulting, training and financial services. He also held sales leadership responsibilities as Regional Head – West (Retail Products) at Centurion Bank of Punjab, and earlier worked with Standard Chartered Bank and ICICI Bank in retail lending and auto loan-related roles—forming the foundation of his long-term career in banking and financial services.
About Flyhi Finance
Flyhi Finance makes it easier than ever to finance a child’s education through Flyhi Study Loans, offering education fee financing with interest rates as low as 0% and a flexible payment schedule. The company is committed to supporting individuals who see finance as the only barrier to pursuing studies, providing domestic education loans at nominal cost, with quick and paperless processing and flexible repayment tenure.
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