In 1996, encouraged by the opportunity in the financial services sector as a result of economic reforms and liberalization in India, Mr. Rashesh founded Edelweiss with three others and Rs. 1 crore in capital.
Since then, Edelweiss has grown into a large diversified financial services house offering products and services in the Credit, Capital Markets, Asset Management, Housing Finance and Life Insurance verticals. Edelweiss recently entered into a life insurance joint venture with Tokio Marine and also acquired Anagram to fuel the expansion into the retail brokerage business. From 10 employees in 2000, Edelweiss is now 2,600 employees strong and with a net worth of over US$500 million.
Mr. 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 entrepreneurship with a strong focus on risk management. 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 via ESOPs has resulted in one of the most broad-based employee-ownership models among financial services companies in India.
Mr. Rashesh has served on the Boards of various companies. He has also served on the Executive Committee of the National Stock Exchange and is serving the third term as the Chairman of the Capital Market Committee of FICCI. Recently he was invited to Chair the National Council on Capital Markets formed by ASSOCHAM. He has also been nominated on the Executive Committee of the proposed U.S.-India Investors’ Forum.
His academic qualifications include an MBA from Indian Institute of Management, Ahmedabad, a Diploma in International Trade from the Indian Institute of Foreign Trade, New Delhi, and a Bachelors degree in Science from the University of Mumbai.
Besides writing regularly for various leading business dailies and publications in India, Mr. Rashesh’s views on Indian economy and policy issues are regularly sought by leading Indian and global business journals and electronic media. He is also a regular speaker at various industry and economic forums.
Among the several accolades Mr. Rashesh has received are the ‘Entrepreneur of the Year’ award from Bombay Management Association (2008-2009) and a Special Award from Zee Business for his contribution to the development of Indian stock markets.
A voracious reader and keen tennis player, Mr. Rashesh has also run the half marathon distance twice in the Mumbai Marathon.
Mr. Rashesh Shah will be sharing his outlook on Private Equity as an emerging Asset Class during Session II - “Changing pattern of investments - Domestic and Foreign” of the Symposium.
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