Investcorp adds Deepak Parekh to International Advisory Board
Bahrain-based Investcorp, has announced that Deepak Parekh, Chairman of HDFC Limited, Indian’s leading Financial Services conglomerate, has been appointment to Investcorp’s International Advisory Board.
Commenting on the appointment, Mohammed Alardhi, Executive Chairman of Investcorp, said, “It is an honour to welcome Deepak onto our International Advisory Board. As someone who is globally recognised and deeply respected for his insights and guidance by both multinationals and policy makers, Deepak brings to us and our International Advisory Board a new perspective that will only enhance our ability to become one of the world’s leading alternative asset managers.”
Parekh has played a significant role in the development of the financial sector in India, playing a leading role in the diversification of the business into banking, asset management, insurance, real estate and education. Parekh has been a leading advisor to the government of India and was an active member of the committees that shape policy in critical insurance, banking and infrastructure reforms.
Parekh began his career with Ernst & Young in New York and subsequently served senior positions in Grindlays Bank and Chase Manhattan Bank. He joined HDFC in 1978 and held several senior positions before being appointed as Chairman of the Group in 1993.
Sharing similar sentiments, Parekh added, “Investcorp is driving an ambitious phase of growth which is guided by a vision to transform itself into one of the world’s leading diversified global alternative asset managers. In a short period of time the team has delivered a doubling of assets under management, broadened its investor base and expanded its product lines for its clients. I am truly excited to be joining the Advisory Board at this transformational time and look forward to working with the Investcorp management team and my fellow International Advisory Board members.”
Parekh is on the Boards of several leading corporations including as Non-Executive Chairman in India of Siemens Ltd, GlaxoSmithKline Pharmaceuticals Ltd and BAE Systems India. He is involved in an advisory capacity for international organisations including: Indo US CEO Forum, City of London - Finance Committee, Indo -German Chamber of Commerce (IGCC) and India-UK Financial Partnership (IUKFP).
He has been widely recognised for his work through several awards including: the Padma Bhushan in 2006; ‘Bundesverdienstkreuz’—one of the highest distinction by the Federal Republic of Germany in 2014; ‘Knight in the Order of the Legion of Honour’—one of the highest distinctions by the French Republic in 2010; and was the first international recipient of the Outstanding Achievement Award by Institute of Chartered Accountants in England and Wales in 2010.
Investcorp’s International Advisory Board is chaired by Mohammed Alardhi, Executive Chairman of Investcorp. It meets annually and provides advice and guidance to the Firm. It consists of Kofi Annan, President of the Global Humanitarian Forum and former Secretary-General of the United Nations; Dr. Wolfgang Schüssel, President of the Foreign Policy and United Nations Association of Austria, and former Federal Chancellor and Minister for Economic Affairs of Austria; Ambassador Wolfgang Ischinger, former German Deputy Foreign Minister and Chairman, Munich Security Conference; Global Head of Government Relations and Public Policy for Allianz; Pierre Keller, former Managing Partner of Lombard Odier & Cie; Ana Palacio, former Foreign Minister of Spain and Senior Vice President of International Affairs and Marketing, AREVA; Deepak Parekh, Chairman of India’s premier housing finance company HDFC Ltd; Dr Mohamed El-Erian, former CEO and Co-Chief Investment Officer of PIMCO; and Dr Otto Schily, former German Interior Minister and a member of the German Bundestag where he serves on the Committee on Foreign Affairs.