Women in Treasury

Mercedes-Benz Research and Development India’s Isha Goel: resilience, advocacy and lifting others

Published: Jun 2026
Women in Treasury & Finance

Woman of the Year – APAC

Highly Commended Winner

Isha Goel, Mercedes-Benz Research and Development India

Isha Goel

Head – Treasury Settlements APAC
Mercedes-Benz Research and Development India

Mercedes-Benz Research and Development India (MBRDI) is the largest research and development centre for Mercedes-Benz Group AG outside of Germany. Established in 1996, MBRDI plays a prominent role in the development of technologies like connected, autonomous, and electric in the world of mobility. With offices in Bengaluru and Pune, MBRDI currently employs over 8,500 professionals engaged in digital product development, interior component design, IT engineering and services.

Profile

As Head of Treasury Settlements APAC, Isha oversees high-volume, multi-currency transaction processing of more than €19bn annually, and managing bank account structures across 25+ entities, while leading a team of three people. Her role focuses on ensuring efficient, compliant and secure treasury operations, while acting as a key interface between global treasury teams, regional entities and banking partners. It also involves driving transformation initiatives, strengthening internal controls, and enabling seamless cash and banking operations across multiple jurisdictions.

Over a career spanning more than two decades in treasury and finance, Isha has built a track record defined by execution, transformation and sustained leadership impact. In her past roles, she has played a central role in supporting corporate growth, including assisting in raising €12m from financial institutions to fund M&A activity and business expansion. Her focus on balance sheet efficiency has also delivered tangible results, most notably a 15% reduction in overdue guarantees and deposits, unlocking previously restricted cash and strengthening liquidity management.

Operationally, she has led six major treasury transitions from APAC, Europe and the US into India over the past four years during her tenure with MBRDI and Siemens, delivering these complex projects seamlessly with zero disruption to business continuity. This work has reinforced her reputation as a trusted leader capable of managing global treasury transformation at scale.

Her leadership has been recognised widely across the industry. In 2024, she was named BW Finance 40under40 and awarded Treasury Leader of the Year at the Treasury Management India Summit. She was also recognised among the Elite 30 Treasury Leaders by India Startup Times, alongside earlier accolades including Emerging Finance Leader at the CFO Vision and Innovation Summit 2022 and the Women Leadership Award at the Future Women Leader Summit 2022.

Beyond her technical achievements, she is deeply committed to mentoring and coaching. She actively supports colleagues across teams, encouraging them to take on new challenges and grow into leadership roles, underpinned by her belief that “when they grow, I grow.” Her approach fosters a culture of collaboration, confidence and continuous development.

Her influence extends into advancing diversity, equity and inclusion. Beginning her career with Apollo, as the only woman in a finance and treasury team of nearly 30, she has helped reshape organisational perceptions and hiring practices, actively advocating for greater female representation in treasury. Her impact has contributed to building more inclusive teams and has inspired a new generation of women to pursue careers in finance.

Isha’s leadership is defined by resilience, advocacy and a clear commitment to lifting others as she progresses.

Working in an environment where female leadership in treasury was once rare, she consistently demonstrated capability and credibility, ultimately influencing senior leadership to broaden hiring practices and increase female representation within the function. Her success not only challenged entrenched norms but embedded a stronger DEI culture within her organisations.

She has led complex treasury transformation and transition initiatives that have strengthened global operating models, earning the trust of stakeholders and expanding the strategic role of her team. In parallel, she has cultivated a leadership style centred on empowerment — encouraging individuals to step beyond their comfort zones and take ownership of growth opportunities.

Her visibility as a recognised industry leader, combined with her active mentoring and advocacy, positions her as a role model for aspiring treasury professionals — particularly women — demonstrating that leadership in finance is both achievable and impactful.

Isha’s journey is one of persistence, transformation and purpose. Having established herself in a field where she was once underrepresented, she has not only achieved professional excellence but has actively worked to create opportunities for others. Her leadership philosophy — rooted in developing people and building inclusive teams — has delivered measurable business outcomes while shaping future leaders.

Recognition as Woman of the Year celebrates her achievements but also amplifies a powerful message: leadership in treasury is strengthened by diversity, resilience and a commitment to lifting others.

Women in Treasury & Finance logo

Treasury Today Group’s Women in Treasury & Finance Awards celebrate exceptional talent and dedicated individuals changing their corporations from within. To find out more please visit treasurytoday.com/women-in-treasury/awards/

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