Rashesh Shah - Misplaced Pages

Indian businessman (born 1963)

This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages)

A major contributor to this article appears to have a close connection with its subject. It may require cleanup to comply with Misplaced Pages's content policies, particularly neutral point of view. Please discuss further on the talk page. (June 2018) (Learn how and when to remove this message)

This article may have been created or edited in return for undisclosed payments, a violation of Misplaced Pages's terms of use. It may require cleanup to comply with Misplaced Pages's content policies, particularly neutral point of view. (January 2019)

This article contains wording that promotes the subject in a subjective manner without imparting real information. Please remove or replace such wording and instead of making proclamations about a subject's importance, use facts and attribution to demonstrate that importance. (September 2024) (Learn how and when to remove this message)

(Learn how and when to remove this message)

Rashesh Shah
Chairman & CEO of the Edelweiss Group
Born	(1963-09-30) 30 September 1963 (age 61)
Education	Bachelor of Science degree in statistics, KC College MBA, Indian Institute of Management Ahmedabad, 1989
Occupation	Finance
Known for	Financial Advisor
Spouse	Vidya Shah
Children	(2) Neel, born in 1995 and Avanti, born in 2000

Rashesh Shah (born 30 September 1963) is an Indian businessman, chairman and CEO of the Edelweiss Group, and one of India's leading diversified financial services conglomerates. He is also the co-founder of Edelweiss Financial Services Limited (EFSL).

Early Life and Education

Rashesh Shah was a student of Bharatiya Vidya Bhavan and Manav Mandir High School in Mumbai. He completed a Bachelor of Science degree in statistics from KC College, Mumbai, and spent a year studying exports at Indian Institute of Foreign Trade (IIFT), Delhi.

After that, he completed his MBA from the Indian Institute of Management (IIM), Ahmedabad in 1989. After graduation he joined ICICI and later co-founded Edelweiss Group with Venkat Ramaswamy in November 1995.

Family

Born in a Gujarati family, Rashesh Shah was the first in his family to attend an English-medium school. He is married to Vidya Shah, CEO of EdelGive Foundation, whom he met during their time at IIM. The couple has two children: Neel, born in 1995, and Avanti, born in 2000.

Interests

He is known for his commitment to fitness, maintaining a disciplined regimen that includes starting his day as early as 4:45 AM with a fitness schedule including running, swimming, and cycling. He credits these activities for enhancing his mental clarity and stress management. Shah's passion for wellness extends to his workplace, where he promotes a health-conscious culture (Economic Times).

Career

Rashesh Shah has over 28 years of experience in the financial markets sector. He left his position at Prime Securities to co-found Edelweiss with Venkat Ramaswamy. The company was established in November 1995 and began operations in February 1996. Due to an inability to meet SEBI's capital requirement of ₹5 crore, Shah and Ramaswamy adjusted their business plan, focusing on private equity syndication, mergers and acquisitions (M&A), and advisory services. They started with a small office in Mumbai's Fountain area, employing just three people.

In 2000, the 10-employees company crossed a capital mark of ₹5 crores and became a Category-1 merchant bank. Currently, Rashesh and Vidya Shah hold nearly 27% stake in Edelweiss. The company has an asset base of ₹48,000 crore and net worth of ₹5,400 crore. Besides, Rashesh Shah has worked as a member of the executive committee of the National Stock Exchange (NSE) and the Stock Exchange Board of India (SEBI). He reviewed Insider Trading Regulations at SEBI. He has also held the chair of the National Council on Capital Markets formed by Associate Chambers of Commerce and Industry of India (ASSOCHAM)

He has served as the President of Federation of Indian Chambers of Commerce and Industry (FICCI) in 2017–18.

A regular commentator on macro-economic policies, development matters and financial markets in the mainstream and financial media, Rashesh is a part of the High Level Task Force on Public Credit Registry for India as well as the Insolvency Law Committees.

Awards and Recognition

Rashesh Shah, Co-founder and Chairman of the Edelweiss Group, has received several awards and recognitions throughout his career for his contributions to the financial services sector and his leadership in the corporate social responsibilities. Below are some notably awards and recognitions:

Awards and Honors

Entrepreneur of the Year Award Finalist (2017): Shah was a finalist for the Entrepreneur of the Year Award in 2017, acknowledging his significant contributions to the financial services industry.
National CSR Award (2019): Under Shah's leadership Edelweiss Financial Services Limited received the National Corporate Social Responsibility (CSR) Award in 2019. The award, presented by the President of India, acknowledge the company's commitment to impactful social initiatives (Source).

Media Features

Forbes India: Rashesh Shah has been featured multiple times in Forbes India. In a December 2023 exclusive interview, he discussed Edelweiss's strategies and the challenges within the financial sector (Source). Additionally, he contributed a reflective article in June 2013, sharing insights from his entrepreneurial journey (Source).
Business Today: In August 2023, Business Today highlighted Shah's leadership at Edelweiss and the company's pivotal role in shaping India's financial services landscape (Source).

Allegations

In January 2020, the Enforcement Directorate issued summons to Edelweiss Group and Shah to join a case involving an alleged Rs 2,000 crore violation of FEMA provisions. This pertains to Mumbai-based Capstone Forex Pvt Ltd. Rashesh Shah has rejected allegations of FEMA violations.

Philanthropy

He is also deeply involved in EdelGive Foundation, Edelweiss's philanthropy arm, which was set up in 2008 by his wife Vidya, with an aim to provide expertise of financial sector to the not-for-profit sector.

References

^ "The trickle - down effect". Livemint.
Panchal, Salil (Apr 1, 2015). "How Edelweiss built a business for the long run". Forbes India.
Antony, Anto; Shirodkar, Ravil (2019-04-05). "From an analyst to a head of $1 billion financial conglomerate: Story of Edelweiss' Rashesh Shah". The Economic Times. ISSN 0013-0389. Retrieved 2024-09-21.
^ Bhargava, Anjuli (Mar 11, 2008). "Shah: The man who makes 'crorepatis'". Rediff.com.
Choudhary, Sonya (Nov 19, 2010). "The trickle-down effect". Live Mint. Archived from the original on 2012-11-03.
^ Zachariah, Reeba; V K, Vipashana (Mar 3, 2014). "'Fear sets in if you don't grab opportunities,' is Vidya Shah's message for women". The Economic Times. Archived from the original on October 17, 2015.
^ Shah, Rashesh (Jun 16, 2013). "Rashesh Shah: Every setback is an opportunity to recalibrate". Forbes India.
"Rashesh Shah's journey from a small office in Nariman Point to Edelweiss House". The Economic Times. Jun 6, 2014.
"Edelweiss Board of Directors". Edelweiss Financial Services.
"About Rashesh Shah". Edelweiss Financial Services.
"Rashesh Shah takes over as Ficci President". India Today.
"RBI sets up task force on 'Public Credit Registry'". Hindu Business Line.
Upadhyay, Jayshree (10 January 2020). "Edelweiss chief Rashesh Shah gets ED's summons". Livemint. Retrieved 21 September 2024.
"Rashesh Shah rejects allegations of FEMA violations". Hindu Business Line.

External Links

Edelweiss official website