12 Sep 2017
Investcorp, a global provider and manager of alternative investment products, today announced that Deepak Parekh, Chairman of HDFC Limited, Indian’s leading Financial Services conglomerate, has been appointed to Investcorp’s International Advisory Board.
Mr 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. Mr 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.
Mr 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.
Commenting on the appointment, Mr Parekh said, “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.”
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.”
Mr 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.
Investcorp is a leading global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating investor and shareholder value through a disciplined investment approach in four lines of business: corporate investment, real estate, alternative investment solutions and credit management.
As at June 30, 2017, the Investcorp Group had $21.3 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 170 corporate investments in the U.S., Europe and the Middle East and North Africa region, including Turkey, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 450 commercial and residential real estate investments in the US, for in excess of $55 billion in transaction value.
Investcorp employs approximately 390 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. It is publicly traded on the Bahrain Bourse (INVCORP). For further information, including our most recent periodic financial statements, which details our assets under management, please visit: www.investcorp.com.
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About Deepak Parekh
Mr. Deepak Parekh spearheads India’s premier housing finance company HDFC Ltd., which has turned the dream of owning a home into a reality for millions across the country. Mr. Parekh’s astute business acumen and farsightedness has not only made HDFC the leader in Mortgages, but has also transformed it into India’s leading Financial Services Conglomerate with presence in Banking, Asset Management, Life Insurance, General Insurance, Real Estate Venture Fund, Education Loans and Education. Mr. Parekh is the chairman of HDFC Group Companies.
Mr. Parekh is on the board of several leading corporations across diverse sectors. He is the Non-Executive Chairman in India of Siemens Ltd, GlaxoSmithKline Pharmaceuticals Ltd and BAE Systems India (Services) Pvt Ltd. He is also on the boards of Indian Hotels Company Ltd and Bangalore International Airport Limited (BIAL).
Mr. Parekh is on the international boards of DP World – UAE, Vedanta Resources plc and Fairfax Financial Holdings Corporation - Canada.
He is on the Indian Advisory Boards of Coca Cola India, Boston Consultancy Group, Accenture India.
He is also on the International Advisory Boards of Standard Life Asia, Nomura Holdings Inc, Lafarge International, Warburg Pincus LLC and GIC International.
Some of the international organizations which Mr. Parekh is associated with in an advisory capacity, include Indo US CEO Forum, City of London - Finance Committee, Indo - German Chamber of Commerce(IGCC), India-UK Financial Partnership (IUKFP), etc.
In addition to being known for his vociferous views seeking standardization and transparency in the real estate sector, Mr. Parekh has always been willing to share his ideas and experience to formulate reform policies across sectors. His role as Special Director on the Satyam Board in 2009 to revive the company or the crucial role played by him in late ‘90s during the UTI crisis to recommend measures for sustaining investor confidence has been well appreciated across global corporate circles. Mr. Parekh was an active member of various high-powered Economic Groups, Advisory Committees and Task Forces which include infrastructure, housing, financial services and capital markets.
A man with a mission, Mr. Parekh’s philosophy on Corporate Social Responsibility is simple yet profound. He believes that if a company earns, it must also return to the society and that companies owe a responsibility not just to shareholders, but also to all its stakeholders.
Government and Industry impressed by Mr. Parekh’s performance and sobriety, have honored him with several awards. Some of the most important ones are; the Padma Bhushan in 2006,‘Bundesverdienstkreuz’ Germany’s Cross of the Order of Merit 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 distinction by the French Republic in 2010, First international recipient of the Outstanding Achievement Award by Institute of Chartered Accountants in England and Wales, in 2010.