Analjit Singh Chairman
Mr. Analjit Singh is the Founder & Chairman of the Max Group, a US$ 3.2 billion multi-business enterprise, with interests in life insurance (Max Life), healthcare (Max Healthcare), health insurance (Max Bupa), real estate (Max Estates), senior living (Antara) and speciality packaging (Max Speciality Films). Max Group is renowned for service excellence and has successful joint ventures with some of the pre-eminent firms, including Mitsui Sumitomo and Toppan from Japan, Life Healthcare from South Africa and Bupa Plc. from the United Kingdom. Earlier partners include DSM, Netherlands; New York Life Insurance Company; Hutchison Whampoa; Motorola; Lockheed Martin and others.
Amongst privately held family businesses, Mr. Analjit Singh is the founder of Leeu Collection, a group of leisure boutique hotels in Franschhoek, South Africa (SA); The Lake District, UK; and soon to be opened in Florence, Italy. Leeu Collection also includes a significant presence in wine and viticulture through Mullineux Leeu Family Wines; an active F&B portfolio of restaurants in partnership with Azure Hospitality, Ritu Dalmia, The La Colombe Group in Cape Town , SA and the Alajmo Group in Italy. Art and landscaping are significant differentiators in the hospitality businesses aided by a strong relationship with Everard Read, SA and Franchesca Watson.
A self-made entrepreneur, Mr. Analjit Singh was awarded the Padma Bhushan, India’s third highest civilian honour, by the President of India in 2011. An alumnus of The Doon School and Shri Ram College of Commerce, University of Delhi, Mr. Analjit Singh holds an MBA from Graduate School of Management, Boston University. He has been conferred with an honorary doctorate by Amity University.
Professionally, he is the Non-executive Chairman of multiple Max Group companies - Max Financial Services, Max India, Max Ventures & Industries, Max Life and Antara Senior Living. He is also a Director on the Board of Sofina NV/SA, Belgium. Till August 2018, he was the Non-executive Chairman of Vodafone India.
Mr. Analjit Singh is a member of the Founder Executive Board of the Indian School of Business (ISB), India’s top ranked B-School, and has served as the Chairman of the Board of Governors of Indian Institute of Technology (IIT), Roorkee - India’s oldest and most prestigious engineering college, and Doon School, a premier Indian boarding school.
Mr. Analjit Singh has also served on the Prime Minister’s Indo US CEO Council. He also served as the co-chair of Prabodhan, a unique forum for facilitating closer and more effective engagement between European and Indian decision makers and opinion leaders.
He has been felicitated by Senator Hillary Clinton, former US Secretary of State, on behalf of the Indian American Centre for Political Awareness for his outstanding achievement in presenting the international community with an understanding of a modern and vibrant India and for creating several successful JVs with leading American companies and promoting business ties with the USA.
He has been honoured with the Ernst and Young Entrepreneur of the Year Award (Service Category) and the Golden Peacock Award for Leadership and Service Excellence. In 2014, he was awarded with Spain’s second highest civilian honour, the Knight Commander of the Order of Queen Isabella, and the Distinguished Alumni Award from Boston University. He also served as the Honorary Consul General of the Republic of San Marino in India.
Mohit Talwar Managing Director
Mr. Mohit Talwar is the Vice Chairman of the Max Group. He is also the Managing Director of Max Financial Services Limited(MFS) and Max India Limited, and Vice Chairman of Max Ventures & Industries Limited (MaxVIL). In addition, he serves on the Boards of Max Life Insurance, Max Healthcare, Max Bupa Health Insurance and Antara Senior Living.
In his earlier role as the Deputy Managing Director of the erstwhile consolidated Max India Limited, he successfully leveraged his strong relationships with institutional investors, hedge funds, banks and private equity firms, and led several complex corporate finance and financial structuring deals to ensure adequate investment and liquidity for the Group’s operations. He has played a central role in executing key transactions, including the setting up of Max Bupa Health Insurance, bringing on board MS&AD Insurance Group Holdings as the new JV partner for Max Life and Life Healthcare’s entry as JV partner in Max Healthcare, and later the equalisation of its stake in the business, and completing the mega restructuring of the erstwhile Max India into three new listed companies, which received a significantly positive reaction from capital markets. Mr. Talwar was instrumental in executing a stake repurchase transaction with IDFC Limited, and a transaction with IFC to repurchase its stake in Max Healthcare. He has also overseen key transactions in Max Ventures & Industries Limited, including the induction of Toppan Group as a JV partner in Max Speciality Films, and a 22.5% stake sale to New York Life’s subsidiary.
A veteran in the Corporate Finance and Investment Banking industry, Mr. Talwar has rich experience in Corporate Finance and Investment Banking, having spent 24 years in wholesale banking across global organisations such as Standard Chartered, ANZ Grindlays and Bank of Nova Scotia, prior to joining the Max Group.
Ashwani Windlass Director
Mr. Ashwani Windlass was part of the founding team at Max India, having served the Max Group in different capacities including as its Joint MD as well as MD, Hutchison Max Telecom from 1994 until 1998.
He has continued as a Board member of the Company ever since. He has been the Chairman, MGRM (Asia-Pacific) and Vice Chairman, and the MD of Reliance Telecom.
He serves on leading advisory and statutory Boards, including MGRM Inc., USA, Hitachi MGRM Net Ltd., Vodafone Idea Ltd., Hindustan Media Ventures Ltd and Jubilant Foodworks Ltd.
He holds degrees in B.Com (Gold Medal), Bachelor of Journalism and MBA from Faculty of Management Studies, Delhi University.
Aman Mehta Independent Director
Mr. Aman Mehta retired as the CEO of HSBC Asia Pacific in January 2004, after a global career of 35 years, and returned to India on permanent resettlement. He serves as an Independent, Non-Executive Director on the boards of numerous public companies and institutions in India as well as overseas.
Sir Charles Richard Vernon Stagg Independent Director
Sir Charles Richard Vernon Stagg
Sir Charles Richard Vernon Stagg has been the Chairman of Rothschild and Co., India since 2015. He is a Director of the JP Morgan Asian Investment Trust and a Trustee of the School of Oriental and African Studies in London.
Before joining Rothschild, Sir Richard was a career officer in the UK Foreign Service from 1977-2015. His last two postings were as High Commissioner in Delhi and British Ambassador in Kabul. From 2003-2007, he was the Chief Operating Officer, responsible for the Foreign Office’s global network of embassies and consulates. From 2007-2017, in addition to his diplomatic responsibilities, Sir Richard was the Chairman of FCO Services – a Public Sector Unit (PSU) providing secure services to the UK and foreign governments. Sir Richard has an MA in History from Oxford University.
Jai Arya Independent Director
Mr. Jai Arya is a member of the Board of the UK-based research consultancy, the Official Monetary and Financial Institutions Forum (OMFIF). He is also Adviser to the Dean, NUS Business School, Singapore, as well as their Head of Executive Education. In addition, Mr. Arya has also been a Senior Adviser for Asian banking to a global consultancy firm and has also consulted on a project basis for the Asian Development Bank.
Prior to this, Mr. Arya worked for Bank of New York Mellon for 27 years and Bank of America for 10 years, in various Asian locations. Before leaving BNY Mellon in April 2014, Mr. Arya was an EVP and global head of their business with sovereign institutions, as well as a member of the bank’s Global Operating Committee and Asia Executive Committee. His earlier roles included Head of Asia Client Relationships and Asian country offices.
Mr. Arya received an MBA from the Faculty of Management Studies, Delhi University and a BA (Honours) in Economics from St. Stephen’s College, Delhi University.
D.K. Mittal Independent Director
Mr. D. K. Mittal is a former Indian Administrative Service (IAS) officer from the batch of 1977 and has served the Government of India in various capacities, including Secretary, Department of Financial Services, Secretary, Ministry of Corporate Affairs and Additional Secretary, Department of Commerce.
Mr. D.K. Mittal has hands-on experience in Infrastructure, International Trade, Urban Development, Renewable Energy, Agriculture Development and Micro-Credit, Corporate Governance, Banking, Insurance, Pension and Finance. He holds a master’s degree in physics with specialisation in Electronics from the University of Allahabad, India.
Naina Lal Kidwai Independent Director
Naina Lal Kidwai
Ms. Naina Lal Kidwai is an Independent Director, Max Financial Services and Senior Advisor, Advent Private Equity. She is also a Non-Executive Director on the boards of Nestle SA and CIPLA Ltd. and has been the Past President of Federation of Indian Chambers of Commerce & Industry (FICCI). She retired on December 2015 as Executive Director on the Board of HSBC Asia Pacific and Chairman HSBC India. She is Chairman of the Harvard Business School, South Asia Board.
An MBA from Harvard Business School, she makes a regular appearance on listings by Fortune since 2002 and other listings of international women in business. She has received many awards and honours in India and was awarded the Padma Shri, for her contribution to trade & industry, by the Government of India in 2007. She has edited two books ‘Contemporary Banking in India’ and ‘30 Women in Power: Their Voices, Their Stories’.
Her interests in water and the environment and empowerment of women are reflected in her Board positions of not-for-profit institutions such as Shakti Sustainable Energy Foundation, The Energy Resources Institute, International Advisory Council of the Inquiry of United Nations Environment Program (UNEP), Commissioner for the Global Commission on Economy & Climate, Chair of FICCI’s Water Mission and FICCI’s Inclusive Governance Council and Chair of the India Sanitation Coalition.
Ms. Kidwai is one of India’s representatives on the BRICS Business Council and India Malaysia CEO Forum, and is on the governing Boards of the National Council of Applied Economic Research and ICRIER and also a member of Rajasthan Chief Minister’s Advisory Council. She has been a member of the Government of India’s Industry Task Force, the Prime Minister’s Trade and Industry Council, the National Manufacturing Council, the National Trade Council, and on the Working Group on Banking, Financial Sector Legislative Reforms Commission and the National Institute of Bank Management.
Sahil Vachani Director
Mr. Sahil Vachani is the MD & CEO of Max Ventures and Industries Limited (MaxVIL), one of the three listed companies of the US $3.2 billion Indian conglomerate – The Max Group.
He also serves as a Director on the Boards of Max Financial Services Limited (MFS) and its subsidiary Max Life Insurance as a representative of the Owner Sponsor Group led by Mr. Analjit Singh.
Mr. Vachani joined the Max Group in 2016 with a focus on creating a powerful Real Estate brand – Max Estates Limited – and steering MaxVIL’s other businesses towards growth. Since assuming his role at MaxVIL, Mr. Vachani has successfully completed key transactions that will have an enduring impact on the Company’s growth journey over the next few years.
Mr. Vachani has also facilitated intellectual and financial capital to promising and proven early-stage organisations across identified sunrise sectors led investments through Max I.
Mr. Vachani started his career as an investment banker with Citigroup in London, where he worked on Mergers and Acquisitions (M&As) across the Middle East and Africa regions. In 2004, he joined Dixon Technologies, a consumer appliance manufacturing firm as Business Head and set up new verticals across multiple locations. He was also involved in the launch of new products, setting up of new manufacturing facilities and establishing relationships with leading brands as customers.
He then progressed as the Co-founder and Managing Director of Dixon Appliances Pvt. Ltd., where he was responsible for the business from inception, including designing of products, building the team, setting up the manufacturing facility and operations, and building relationships with leading brands in India such as Panasonic, Godrej and LG, among others. He holds a bachelor’s degree in Management Sciences from the University of Warwick, UK and an Executive Management Program on Disruptive Innovation from the Harvard Business School.
Sanjay Nayar Director
Mr. Sanjay Nayar is a Member and CEO of KKR India. He is also a member of the Asia Portfolio Management Committee.
He is on the board of KKR’s portfolio companies, Alliance Tire Group, Bharti Infratel, Magma Financial Services, Dalmia Bharat Cement, and Coffee Day Holdings and has had significant involvement with KKR’s investment in Apollo Hospitals and Avantha. He also supports expanding the range of KKR’s credit and capital markets offerings across the region.
Prior to joining KKR, he served as the CEO of Citigroup’s Indian and South Asian operations and as a member of Citigroup’s Management Committee and Asia Executive Operating Committee. He also serves on the Committee of the Reserve Bank of India tasked with building a Centre for Advanced Financial Learning (CAFL).
Currently, Mr. Nayar is on the board of Habitat for Humanity, Pratham and Grameen Capital, and is a founding member of the Brookings Foundation, India. He was recently appointed to the Board of Emerging Markets Private Equity Association (EMPEA) and serves as the Chairman of the Indian Private Venture Capital Association. In addition, he is also on the Board of the Indian School of Business (ISB).
Max Life Board of Directors
MD & CEO
Deputy Managing Director
D. K. Mittal
K. Narasimha Murthy