Victor J. Menezes (born 14 May 1949) is an Indian banker.

Early life

He was born in

Pune Pune (; ; also known as Poona, (List of renamed Indian cities and states#Maharashtra, the official name from 1818 until 1978) is one of the most important industrial and educational hubs of India, with an estimated population of 7.4 million ...

, India on 14 May 1947, the son of

Manuel Menezes Manuel Menezes ICS (1922 – 15 June 1996), was an Indian business executive, chairman of the Indian Railway Board. Menezes was a Goan engineer, who worked for India's Railway Board, eventually rising to be chairman, and holding the rank of a pri ...

, who was the chairman of the Indian

Railway Board The Ministry of Railways is a ministry in the Government of India, responsible for the country's rail transport. The ministry operates the statutory body Indian Railways, an organisation that operates as a monopoly in rail transport and is h ...

. His younger brother

Ivan Menezes Sir Ivan Manuel Menezes (born July 1959) is an Indian-born American/British business executive. He has been the chief executive officer (CEO) of Diageo, a FTSE 100 British multinational alcoholic beverages company, since 1 July 2013, succeeding ...

is CEO of

Diageo Diageo plc () is a Multinational corporation, multinational alcoholic beverage company, with its headquarters in London, England. It operates from 132 sites around the world. It was the world's largest distiller before being overtaken by Kweich ...

. He received his degree in

electrical engineering Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems which use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the l ...

from the

Indian Institute of Technology, Bombay The Indian Institute of Technology Bombay (IIT Bombay or IITB) is a public research university and technical institute in Powai, Mumbai, Maharashtra, India. It is considered as one of the best engineering universities in India and is top ranked ...

in 1970. He received an MBA from the

MIT Sloan School of Management The MIT Sloan School of Management (MIT Sloan or Sloan) is the business school of the Massachusetts Institute of Technology, a private university in Cambridge, Massachusetts. MIT Sloan offers bachelor's, master's, and doctoral degree programs, ...

in 1972.

Career

In 1972, he joined Citicorp in Corporate Banking. Later, he was posted in "practically every continent" – as one bio-sketch put it. He rose to the post of Chief Financial Officer in 1995. He retired from Citigroup as Senior Vice Chairman after a 32-year global career there. Currently he chairs the Advisory Board for Citi India. Victor Menezes is Senior Advisor of

New Silk Route New Silk Route Partners LLC, abb as NSR, is a $1.4-billion private equity firm that invests in private companies in India, Asia, and the Middle East. History New Silk Route was initially named Taj Capital. Its founding team included, at var ...

, an international private equity firm. Menezes Chairs the

American India Foundation The American India Foundation (AIF, founded 2001) is a nonprofit American organization working in India. It is one of the largest secular, non-partisan American organizations supporting development work in India. AIF is committed to improving the ...

, is a Vice Chairman of the

Asia Society The Asia Society is a non-profit organization that focuses on educating the world about Asia. It has several centers in the United States (Manhattan, Washington, D.C., Houston, Los Angeles, and San Francisco) and around the world (Hong Kong, Man ...

and of

Catholic Charities The Catholic Church operates numerous charitable organizations. Catholic spiritual teaching includes spreading the Gospel, while Catholic social teaching emphasises support for the sick, the poor and the afflicted through the corporal and spir ...

in New York. He chairs the Executive Committee of the

Eisenhower Fellowships Eisenhower Fellowships is a private, non-profit organization created in 1953 by a group of prominent American citizens to honor President Dwight D. Eisenhower for his contribution to humanity as a soldier, statesman, and world leader. The organiza ...

. He is a board member of Educational Testing Service and the MIT Corporation and is on the advisory boards of IIT, Indian School of Business (ISB), MIT Sloan and

INSEAD INSEAD, a contraction of "Institut Européen d'Administration des Affaires" () is a non-profit business school that maintains campuses in Europe ( Fontainebleau, France), Asia (Singapore), the Middle East (Abu Dhabi, UAE), and North America (San ...

. He also has a convention centre named after him at the Indian Institute of Technology Bombay known as the Victor Menezes Convention Centre (VMCC) which was inaugurated by Mr. Kapil Sibal on 8 January 2011. Menezes was the Chairman of the Clearing House Association; serves as a trustee of the Asia Society, the Eisenhower Fellowships and the American India Foundation. He was named Chairman of the Board of Governors of the National Center for Asia Pacific Economic Cooperation (APEC). Menezes was a member of Citigroup’s Management Committee and Business Heads Committee. The IIT Bombay calls Menezes its "product" who reached the highest levels of banking and finance. The Securities and Exchange Commission alleges in its complaint that on March 28, 2002, as part of a cashless exercise transaction, Menezes exercised 825,960 Citigroup stock options and sold 597,000 of the resulting shares at a price of $49.99 per share to cover the taxes and costs of the option exercise. As part of the transaction, Menezes retained 228,960 shares. The complaint alleges that, at the time of this transaction, Menezes was in possession of material, nonpublic information regarding Citigroup's plan to report first quarter 2002 losses totaling hundreds of millions of dollars related to the company's Argentine operations, which Menezes supervised. According to the complaint, Menezes was also aware that Citigroup would miss consensus earnings estimates for the quarter. The final judgment also requires Menezes to pay $1,567,557 of disgorgement, pre-judgment interest of $328,822.77 and a $783,778 civil penalty, for a total payment of $2,680,157.77.

References

{{DEFAULTSORT:Menezes, Victor 1949 births Living people IIT Bombay alumni MIT Sloan School of Management alumni Indian bankers Indian Roman Catholics