Chairman and Director
Rajesh Sud is the CEO and Managing Director of Max Life Insurance, one of the first three private life insurers to start operations in 2001, when the insurance sector was opened to private participation. A founder member at the company , he is committed to achieving the Vision of making Max Life Insurance the Most Admired Life Insurance Company in India.
Over the last Five years, Rajesh has led the Company through one of the most dynamic periods for the industry. He has made significant contribution as a senior industry leader by shaping industry agenda as member of various committees in industry bodies. He is especially passionate about “customer centricity” and drives this theme across the industry as the Chairman of the Consumer Awareness Committee of Life Insurance Council. Under Rajesh’s leadership, Max Life Insurance has become the largest non-bank life insurer in the country having a consistent record of profitable growth for past four years. The business has won several recognitions under his leadership like the Golden Peacock Award for Excellence in Product Innovation, CII National Six Sigma recognition, the Asia Insurance Industry ‘Innovation of the Year’ Award, the Gallup Great Work Place Award 2009 and BT-Mercer-TNS Best Companies to Work (7th Rank).
Before taking up the role of CEO, Rajesh was responsible for establishing a diversified distribution network for Max Life. He is specially recognized for successfully establishing the most productive ‘Agency’ in India- as the core channel for the company with strong focus on process, training and productivity and for forging a unique long term bancassurance relationship with one of India’s largest private banks.
Prior to joining Max Life Insurance, Rajesh was the Head of Asset Finance business at the largest foreign bank in India, ANZ Grind lays Bank and was seconded as the CEO and MD of the Bank's subsidiary finance company, Esanda Finance and Leasing Ltd. Rajesh started his career with Bank of America and held various positions of increasing responsibility. Rajesh was part of the transition team that managed the successful sale of Bank of America's consumer banking business to ABN Amro Bank and served as the Head of Consumer Banking Sales.
Rajesh completed his Advanced Management Program from Wharton Business School, University of Pennsylvania, Philadelphia, USA. He also has a Management post graduation degree in Marketing and Finance from one of India’s foremost management schools, Faculty of Management Studies, Delhi University.
Co-vice Chairman and Director
Rahul Khosla is a seasoned business leader with deep management experience, strong leadership skills and broad business perspectives developed over the last 30 years in India and globally.
He is currently Managing Director of the Rs 10,000 crore Max India Group, a multi business conglomerate with interests across diverse industries such as life insurance, healthcare, health insurance, senior living, speciality packaging and clinical research.
Rahul is actively progressing the Max India Group’s vision of ‘Being amongst the most admired Corporates in India for service quality – in what we do, how well we do it and the positive impact we make on the society and for our stakeholders’.
Under his leadership, the Max India Group is undergoing a transformational phase across several important dimensions of performance, quality and growth. Since he joined the Max India Group in August 2011, Rahul has already achieved significant momentum:
Led the formation of two successful new joint ventures - Max India’s JV with Mitsui Sumitomo of Japan and Max Healthcare’s JV with South Africa based Life Healthcare. Both these transactions were concluded at valuations that were highly profitable for the Max India Group.
Driven higher performance - the Group has turned profitable and declared a 500% dividend in 2012; the flagship life insurance business also declared its maiden dividend in 2012 and the healthcare business has turned profitable.
• Implemented an enterprise approach to gain synergies across people, processes, performance, values and culture dimensions, thus enabling a consistent identity for the Group. The Max group has already accrued estimated cost related benefits over Rs 100 crore and the stage is set for further cost and revenue based synergies. Last October, the Max India Group joined the list of Indian companies with a market capitalisation in excess of US $ 1 billion.
• Entered the senior living business through a newly formed subsidiary “Antara
Senior Living”, which will provide a unique and compelling proposition to enable seniors in India to age in place gracefully and with dignity.
• Reinforced management depth at operating and corporate levels, by attracting and retaining high quality talent
• Strengthened the Group Brand and enhanced its visibility to customers, investors, employees and other stakeholders through a comprehensive communications process and campaign across a variety of on-ground and online mediums.
• Progressed the quality journey through a unified Group-wide service excellence model.
Rahul believes passionately in living and epitomizing the Group’s values of sevabhav, excellence and credibility and is focused on ensuring that its people and brand represent the very best in the businesses it operates, in order to create health, wealth and happiness for as many lives as possible.
Before joining the Max India Group, Rahul was based in Singapore for 11 years, with his last role as Group Head of Products for Visa, for all markets in Asia Pacific, Central Europe, Middle East and Africa. He was also a member of Visa’s Global Product Management Team and previously, was Chief Operating Officer for Visa Asia Pacific. In his 11 years with Visa, Rahul helped to exponentially grow the business and build Visa’s leadership through product innovation, senior client interface, organizational effectiveness and business execution.
Prior to joining Visa, Rahul was the country head for ANZ Grindlays’ Personal Financial Services businesses in India, with P&L responsibility across all aspects of consumer banking. He developed and implemented a strategy to transform and turn around what was then, the largest foreign-owned bank in India and restructured the bank’s retail operations, balance sheet management, revenue drivers, margin optimization, organization structure and expense management to achieve significant traction across all profitability dimensions.
He worked in Bank of America in India as Head of Retail Assets, Strategy, Finance and Legal, where he helped to re-launch the consumer banking business in India, established national market leadership on the auto loans business and established important partnerships and regulatory approvals that set the foundations for the consumer bank’s growth.
Earlier, he spent a decade working with American Express, where his last role was to set up a pioneering BPO facility for American Express in India where he successfully migrated financial processes from Asian markets. Before this, Rahul was CFO for the American Express TRS businesses for India and South Asia, and was a member of the core team that launched India’s first American Express local currency card, won the Chairman’s Award for a significant automation project and authored a landmark client profitability analysis for the businesses.
Rahul, who is 53, is a Chartered Accountant (articled with A F Ferguson &Co) and graduated with honours in Economics from St Stephen’s College, Delhi. He lives in New Delhi with his wife Mehreen and has two children, both of whom are students in the United States of America.
Mr. David Fletcher
Co-vice Chairman and Director
David Fletcher joined Bupa as Chief Internal Auditor in March 2014 and has been Managing Director of Bupa International Development Markets (IDM) since September 2014.
He joined Bupa from Permata Bank in Indonesia, an affiliate of Standard Chartered, where he was President Director for four and a half years. Prior to this he had an extensive career at Standard Chartered, where he served as Head of Group Internal Audit across the Standard Chartered Group, and was Chief Executive Officer of Standard Chartered Bank Bangladesh from 2002 to 2004.
David has extensive international experience in banking, having held various senior positions in China, Hong Kong, Singapore, Nigeria and London with Standard Chartered and Citibank.
Managing Director &
Chief Executive Officer
Ashish Mehrotra is the Managing Director and Chief Executive Officer (MD&CEO) of Max Bupa Health Insurance. He is responsible for fortifying its portfolio, and creating long-term value in a high potential health insurance market.
Ashish has over two decades of extensive banking experience, where his last role was of Managing Director and Head for the Retail division of Citibank in India. In his previous assignment at Citibank, Ashish played a pivotal role in enabling the bank to gain a leadership position in the wealth management business in India.
Ashish started his career with Citibank and led several key portfolios in the company including Consumer Assets Head, Business Banking Head and Head for Mortgage Business. Under his leadership, Citibank entered into several productive strategic partnerships to complete the insurance product strategy and digitization of sales processes. He also reengineered ‘Citi at Work’ and emerging affluent segment businesses to attain higher profitability and operating efficiency.
He has several accolades to his credit. Under his leadership, Citibank was awarded the Best Retail Foreign Bank by Dun & Bradstreet in 2013 and 2014. He also led the creation of a unique distribution architecture for consumer banking that was adapted by Asian and Middle East and recognized by ‘The Asian Banker’.
Ashish holds a Bachelor’s degree in Business Management and an MBA.
Mr. Mohit Talwar is a post graduate from St. Stephen's College and completed his management studies in Hospitality from the Oberoi School. Mr. Talwar brings a wealth of experience of over 30 years in Corporate Finance and Investment Banking. He spent 24 years in Wholesale Banking in Standard Chartered, ANZ Grindlays and Bank of Nova Scotia. Prior to this, he spent almost 6 years with the Oberoi Group. Mr. Talwar is the Deputy Managing Director of Max India Limited since February 14, 2012.
Mr. Talwar has been with Max India for six years and has played a pivotal role in growing the business and transforming Max Group and its joint ventures into a profitable, billion-dollar enterprise. He steers and governs Max India businesses in life insurance, healthcare, health Insurance, senior living and speciality films space. By leveraging his strong relationships with institutional investors, hedge funds, banks and private equity firms, and successfully leading several complex Corporate Finance and financial structuring deals for the group, he has ensured adequate investment and liquidity for Max India group operations.
K. NARASIMHA MURTHY
K. NARASIMHA MURTHY (56), having brilliant academic record, getting ranks in both CA & ICWA courses entered the Profession of Cost & Management Accountancy in 1983. He is associated with the development of Cost & Management Information Systems for more than 150 Companies covering more than 45 Industries. In addition, he is closely associated with turning around of many large Corporates, focusing on systems improvement with Cost Reduction approach.
He is closely involved with several National level Institutions, presently on the Boards of Oil and Natural Gas Corporation Ltd., LIC Housing Finance Ltd., STCI Finance Ltd.,(Formerly Securities Trading Corporation of India Ltd.,) Infiniti Retail Limited (Subsidiary of Tata Sons Ltd.,), Max Life Insurance Company Ltd., Max Healthcare Institute Ltd., Max Bupa Health Insurance Co. Ltd., In addition, he is associated as Board of Supervision NABARD, Tirumala Tirupathi Devasthanams Internal Audit Committee & Investment Committee.
Earlier he was associated as a Director with IDBI Bank Ltd.(2001-‘11), UTI Bank Ltd., (presently AXIS Bank)(1999-2004), Unit Trust of India (UTI)(2002-‘03), IFCI Ltd.(2008-‘09), APIDC Ltd., Bombay Stock Exchange etc. As Chairman of Expert Committee on Urban Co-op. Banks (UCBs)(2002) in A.P., analysed the performance of more than 140 UCBs. Recommendations of the Committee are well received / accepted, being implemented by the concerned agencies.
He has been associated with more than 28 High Level Committees as Chairman / Member both at National & State Level, which include Prasara Bharati Restructuring Committee, Expert Committee on Common Wealth Games, Restructuring Committee of State Level PSUs, Expert Committee on Co-op. Credit Institutions, Fiscal Reforms Implementation Committee, TTD Investment Committee – Tirupati etc.,
He is also associated with the development of Cost Accounting Record Rules for many Industries as a member of Informal Advisory Committee, Dept. of Corporate Affairs, Govt. of India. His efforts in the furtherance of Costing & Management Accounting Profession in India were recognised by the Institute of Cost & Works Accountants of India (ICWAI) which has honoured him by giving citation in October 2007. Recently, he is nominated as a Member Convener on the Implementation & Monitoring Committee on Audit Reforms in Public Sector Banks by the Govt. of India.
Pradeep is a highly experienced senior business leader, now involved in business consulting and education.
With over 37 years of experience in the FMCG industry, Pradeep is an expert in building businesses in both mature and emerging markets. He has managed a wide range of iconic brands across some of the world’s fastest-growing and complex emerging markets including China, India, Russia, Turkey, Middle East and ASEAN as well as developed markets like ANZ, Japan, Korea. He has a deep understanding of market dynamics and cultural diversity. He has a proven track record and passion for turning organizations around.
Pradeep was Executive Vice President and President of Asia Pacific (AP) and Eastern Europe, Middle East and Africa (EEMEA) for Mondelēz International till end 2013. Launched on October 1, 2012, Mondelēz International consists of the global snacking and food brands of the former Kraft Foods Inc. Pradeep has served as President, Asia Pacific, since 2008 and he assumed his responsibility for the EEMEA region in 2012.
Previously, Pradeep was Regional Managing Director for Asia, Africa, and the Middle East for Fonterra Brands. He was a member of the Fonterra leadership team as well as the company’s global brands marketing group. Prior to Fonterra, he spent 19 years with The Gillette Company working in India, Russia, Turkey and Asia Pacific. Pradeep has also worked with Nestle, J Walter Thompson and the Tata group.
Pradeep holds a Master of Management Studies degree from the Jamnalal Bajaj Institute of Management Studies, Bombay University, and a BA with Honors degree in Economics from Shri Ram College of Commerce, Delhi University. Pradeep is also the Founding President of Food Industry Asia (FIA), an Advisory Board Member of SMU Lee Kong Chian School of Business and a Senior Advisor to Hay Group and McKinsey & Co.
Ms. Marielle Theron
Ms. Theron was appointed Director of Max Bupa Insurance with effect from January 2015. She is also a Director of Max Life Insurance since May 2009.
Ms. Theron is a Principal of Erlen Street Corporation, Switzerland, a company that specialises in strategic investment and management consulting solutions. Prior to that, Ms Theron worked in both consulting and corporate roles for multi-national companies and governments across Europe, Asia, Australia, New Zealand and South Africa, advising on insurance and investment related solutions. She holds a B.Sc. majored in Actuarial Science from Laval University, Canada and is a Fellow of the Society of Actuary (FSA).
Joy Linton is the Appointed Chief Financial Officer of Bupa . She brings over 25 years’ experience in financial and strategic roles in Australia and the UK. Joy joined Bupa in March 2011 as Finance Director of Bupa’s Australian Health Insurance business, later becoming Finance and Commercial Director of Bupa Australia and New Zealand.
She became Bupa’s Chief People officer on an interim basis in 2015, prior to taking up her role as General Manager, Health Services for Bupa UK. Previously, Joy was CFO of National Foods, one of Australia’s largest food and beverage companies.
She was also a Non-Executive Director of Bega Cheese Ltd, an ASX-200 listed company, serving as Chair of their Audit and Risk Committee
Dr. Burjor Phiroze Banaji
Dr. Burjor Banaji is the third generation in a line of distinguished ophthalmic surgeons that began nearly a hundred years ago with his grandfather Dr. Burjor P Banaji (Senior). His father Dr. Phiroze Banaji was one of the country's leading ophthalmic surgeons and teachers, credited with introducing modern retinal detachment surgery and corneal transplantation to India.
After completing post graduate studies in the United Kingdom in 1988, Dr. Burjor Banaji returned to Mumbai to take over the family practice. In keeping with the family tradition of being at the cutting edge of ophthalmology throughout the last century, Dr. Banaji introduced several firsts in the field of ophthalmology to India. Banaji Eyecare is the first clinic to use the diode laser in the treatment of retinal disorders; it is also amongst the first clinics to start phacoemulsification cataract surgery and more recently, the revolutionary LASIK procedure. More than a decade ago, Dr. Banaji and a handful of surgeons across the world were perfecting a revolutionary new procedure called LASIK. Recognizing the enormous potential to help those afflicted with glasses and contact lenses, Dr. Banaji became the pioneering surgeon in Asia to persevere in mastering this demanding technique. Dr. Banaji has performed thousands of LASIK procedures and is considered to be one of the leading authorities on this procedure.
Recognizing his pioneering work on the subject, Dr. Banaji is also an invited teacher to prestigious institutions of learning such as the Harvard Medical School in Boston, the Moorfields Eye Hospital in London, and the Eye Foundation Hospital in Alabama. He has been the chief instructor on courses teaching the LASIK procedure at several meetings of the American Society of Cataract and Refractive Surgeons held in Boston, San Diego and Seattle. Dr. Banaji has also invented several surgical instruments for LASIK, which are now used by surgeons the world over.
Mr. D. K. Mittal is a former Indian Administrative Service (IAS) officer of 1977 batch (UP cadre) and has served the government of India in various capacities. Mr. Mittal was Secretary, Department of Financial Services, where he was responsible for overseeing Banking, Insurance and Pension policies of India. During his tenure he worked very closely with the RBI and was on the Board of the RBI, LIC, State Bank of India, IIFCL and IIFCL (UK). Previously as Secretary, Ministry of Corporate Affairs, he has worked closely with ICAI, ICSI and ICWAI. As an Additional Secretary, Department of Commerce, Mr. Mittal was the chief negotiator of India for WTO negotiation. He also supervised all multilateral Preferential Tariff negotiations, development and operation of SEZs in India and FDI and Overseas Investment from India. As Joint Secretary, Ministry of Commerce, he had oversight of International Trade and Special Economic Zones. He formulated SEZ policy in March 2000 for the first time in India. He was with ILFS on secondment from the Govt of India and worked in the area of project development and financing of infra projects.
Mr. 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 specialization in Electronics from University of Allahabad, India.
Mr. Simeon Preston is currently Bupa’s CEO of International Markets since October 2017. Prior to joining Bupa, he was AIA’s Group Chief Operations Officer and a member of the Group Executive Committee responsible for technology, innovation, operations and transformation. Prior to joining AIA in 2010, he served as a senior partner in the financial services practice of the global management consultant M/s. Bain & Company where his twin specialisms were Asia insurance and organisational design. Mr. Preston previously spent almost nine years with the strategy consulting firm M/s. Marakon Associates in Europe, the USA and Asia. He has lived and worked in Asia for over 20 years.
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