Tuesday, April 18, 2017

Foundation Holdings boosts senior management team

Foundation Holdings, a strategic healthcare, education and consumer-focused investment firm, has announced the appointment of five new senior executives as the firm continues to expand its investment portfolio in India and the GCC.

This step follows the company's set plan of investing Dh2 billion ($544 million) in the region over the next five years, said a statement from the company.

The new appointments include Tharshan Wijey as chief financial officer, Karan Yadav as chief strategy officer, Aakash Sachdev as managing director (India), Parvati Banati as managing director (Asset Management) and Phil Garrison as managing director (Operations), it stated.

Wijey joins Foundation Holdings after beginning his career with Morgan Stanley (Australia & Singapore). Having spent the last decade in the GCC defining healthcare and education businesses, he will develop Foundation Holdings’ long term financial planning and investment portfolio with his disciplined, efficient and focused approach to business.

Yadav was a senior executive at Philips Lighting, Middle East, and has also spearheaded initiatives such as the Cleveland Clinic Abu Dhabi (CCAD). He will be responsible for developing and executing the long-term business strategy as well as expanding the business and market reach, stressing on creativity, innovation and visionary approach.

Sachdev, an industry veteran with 14 years of experience in financing and investing sector, will be leading the company’s focus on the fast-growing $2.5 trillion Indian market.

Banati was the former managing director and head of Investment Banking Coverage & Advisory, South East Asia at Deutsche Bank, Singapore and had led the transformative IPO of IHH Healthcare.

She will be joined by Garrison as managing director (Operations) who enjoys over 40 years of experience in international businesses, including various positions held with Caltex Petroleum. Garrison also served as the former chairman of the American School of Dubai.

Welcoming the appointments, CEO Abhishek Sharma, said: "Our vision is to build sustainable, industry defining companies and we believe that actualising this is a team sport. Human capital or our people are the key drivers of our superior investment returns, and we are very committed to the proposition that people drive business performance."

"I am delighted to welcome our new, highly talented and accomplished business leaders as we continue to expand the Foundation team. It is critical that we are building a “human engine” to amplify Foundation Holdings’ robust 'business engine'," he stated.

"The new appointments will not only add depth and bring a wealth of knowledge and expertise to our business, but together with the existing board of directors and advisory board, will help redefine the industry," he added.

In February this year, the firm launched a joint venture with Bloom Holding, an Abu Dhabi-headquartered group, aimed at investing over Dh1 billion ($272 million) in innovative workforce solutions, targeting the impactful sectors of healthcare, education and services within the UAE, said Sharma.

This joint venture, with an ambition to IPO, brings together two best in class partners, who share strategic and operational know-how in addition to solid political and financial capital, he added.-TradeArabia News Service

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