Mumbai, Thursday, December 01, 2011
Rashesh Shah, Chairman and CEO of the Edelweiss Group has been appointed as the Chairman of FICCI-Maharashtra State Council, which is head-quartered in Mumbai.
Speaking at his appointment, Mr. Shah said, “Maharashtra has always been known for its business-friendly policies. I would be privileged if under the aegis of FICCI Maharashtra State Council, I am able to contribute to its further growth and development.”
Rashesh has over twenty years of experience in financial services in India. Prior to founding Edelweiss, he worked with ICICI, then India’s premier industrial development bank and today its largest private sector bank. In 1996, encouraged by the opportunity in the financial services sector as a result of economic reforms and liberalization in India, Rashesh founded Edelweiss with initial equity capital of INR 1 Cr (USD 250,000). Since then, Edelweiss has grown into a large diversified financial services house offering Credit, Capital Market, Asset Management, Housing Finance and Insurance products to a wide range of Institutional, Corporate and Individual customers. From 10 employees in 2000, Edelweiss is now 3,500 employees strong, with a net worth of over USD 500 Mn.
Rashesh’s focus on innovation and his passion for growth through expansion into related/adjacent markets has been a key differentiator for Edelweiss. Under his leadership, the company has combined growth oriented entrepreneurship with a strong focus on risk. The company’s consistent growth can be attributed to the culture of ownership and partnership that is nurtured amongst the employees of Edelweiss. A pioneering move to reward those who built Edelweiss with ESOPs has resulted in one of the most broad-based employee-ownerships among financial services companies in India.
Rashesh has served on the Boards of various companies and public institutions. He has in the past served on the Executive Committee of the National Stock Exchange and currently is Chairman of the Capital Market Committee of FICCI. He has also been nominated to the Executive Committee of a proposed US - India Investors Forum.
His academic qualifications include an MBA from Indian Institute of Management, Ahmadabad, a Diploma in International Trade from the Indian Institute of Foreign Trade, New Delhi and a Bachelor's Degree in Science from the University of Mumbai.
Besides writing regularly for various leading business dailies and publications in India, Rashesh’s views on the Indian economy and policy issues are regularly sought by leading Indian and global business journals. He is also a regular speaker at various industry and economic forums.
Among the several accolades Rashesh has received, are the ‘Entrepreneur of the Year’ award from Bombay Management Association (2008-2009) and the ‘Special Award for Contribution to Development of Capital Markets in India’ by Zee Business at the India’s Best Market Analyst Awards, 2011.
A voracious reader and keen tennis player, Rashesh’s current passion is running marathons.
Media Division
FICCI- Maharashtra State Council
Tel: 022-2496800
