Rashesh Shah (born 30 September 1963) is an Indian businessman and the

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

of the

Edelweiss Group Edelweiss Group (Officially known as Edelweiss Financial Services Limited) is an investment and financial services company based in Mumbai, India. It is co-founded by Rashesh Shah and Venkat Ramaswamy. The company is dealing in various fina ...

, one of India's leading diversified financial services conglomerates. He is also the co-founder of Edelweiss Financial Services Limited (EFSL). He also delivers many speeches, interviews, and lectures on topics related to

financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets ...

, development, macroeconomic policies, and related matters.

Early life and education

Rashesh Shah was a student of

Bharatiya Vidya Bhavan Bharatiya Vidya Bhavan is an Indian educational trust. It was founded on 7 November 1938 by Dr K.M Munshi, with the support of Mahatma Gandhi. The trust programmes through its 119 centres in India, 7 centres abroad and 367 constituent instit ...

and Manav Mandir High School of Mumbai. He completed a Bachelor of Science degree in statistics from KC College,

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

and spent a year studying exports at

Indian Institute of Foreign Trade The Indian Institute of Foreign Trade (IIFT) is a leading business school of India. Established in 1963, it works as an autonomous body under the Ministry of Commerce & Industry, Government of India. It also functions as a civil services tr ...

(IIFT). After that, he completed his

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

from Indian Institute of Management (IIM), Ahmedabad in 1989. He then joined

ICICI ICICI Bank Limited is an Indian Private bank. It is headquartered at Mumbai. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiari ...

. Rashesh Shah enjoys reading and is a fitness enthusiast who enjoys playing tennis. An avid runner, he has participated in a triathlon and continues to participate in marathons across the world.

Family

Born in a

Gujarati Gujarati may refer to: * something of, from, or related to Gujarat, a state of India * Gujarati people, the major ethnic group of Gujarat * Gujarati language, the Indo-Aryan language spoken by them * Gujarati languages, the Western Indo-Aryan sub- ...

family, Rashesh Shah was the first one to study in an English-medium school. He is married to Vidya Shah, CEO of EdelGive Foundation, whom he met at IIM. The couple has two children, Neel, born in 1995, and Avanti, born in 2000.

Career

Rashesh Shah has an experience of more than 28 years in the financial market sector. He quit his job at Prime Securities to start Edelweiss along with co-founder Venkat Ramaswamy. The company was founded in November 1995 and commenced operations in February 1996 Unable to meet SEBI's capital requirement of , Shah and Ramaswamy changed their business plan; they worked on

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a ty ...

syndication and

mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

(M&A) and focused on advisory services. They started with a small office in Mumbai's Fountain area with just three employees. In 2000, the 10-employees company crossed a capital mark of 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 and net worth of . 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 The Associated Chambers of Commerce and Industry of India () is a Non-governmental organization, non-governmental trade association and advocacy group based in New Delhi, India. The organisation represents the interests of trade and commerce in ...

) He has served as the President of

Federation of Indian Chambers of Commerce and Industry The Federation of Indian Chambers of Commerce & Industry (FICCI) is a Non-governmental organization, non-governmental trade association and advocacy group based in India. History Established in 1927, on the advice of Mahatma Gandhi by Ind ...

(

FICCI The Federation of Indian Chambers of Commerce & Industry (FICCI) is a non-governmental trade association and advocacy group based in India. History Established in 1927, on the advice of Mahatma Gandhi by Indian businessman G.D. Birla and ...

) 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.

Allegations

In January 2020, the Enforcement Directorate (ED) 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.

Achievements

*Rashesh Shah was honoured with the HeforShe pin by the UN Women, for creating a gender equal world. *Rashesh Shah won 'Entrepreneur Of The Year – Financial Services award ' from EY in 2018. *Rashesh Shah won the award of ‘Entrepreneur of the Year’ from Bombay Management Association in 2008–2009. *He also bagged the 'Special Award for Contribution to Development of Capital Markets in India' from Zee Business at India's Best Market Analyst Awards of 2011.

References

https://www.thehindubusinessline.com/companies/rashesh-shah-rejects-allegations-of-fema-violations/article30550321.ece

External links

Edelweiss official website
{{DEFAULTSORT:Shah, Rashesh Living people 1963 births Indian chairpersons of corporations