Investcorp, a global provider and manager of alternative investment products, today announced that Deepak Parekh, chairman of HDFC Limited, a leading financial services conglomerate in India, has been appointed to Investcorp’s International Advisory Board.

Parekh has played a significant role in the development of the financial sector in India, playing a leading role in the diversification of the business into banking, asset management, insurance, real estate and education. Parekh has been a leading advisor to the Government of India and was an active member of the committees that shape policy in critical insurance, banking and infrastructure reforms.

Parekh began his career with Ernst & Young in New York and subsequently served senior positions in Grindlays Bank and Chase Manhattan Bank. He joined HDFC in 1978 and held several senior positions before being appointed as chairman of the group in 1993.

Commenting on the appointment, Parekh said: “Investcorp is driving an ambitious phase of growth which is guided by a vision to transform itself into one of the world’s leading diversified global alternative asset managers. In a short period of time the team has delivered a doubling of assets under management, broadened its investor base and expanded its product lines for its clients.  I am truly excited to be joining the advisory board at this transformational time and look forward to working with the Investcorp management team and my fellow international advisory board members.”

Mohammed Alardhi, executive chairman of Investcorp, said: “It is an honour to welcome Deepak onto our International Advisory Board. As someone who is globally recognised and deeply respected for his insights and guidance by both multinationals and policy makers, Deepak brings to us and our International Advisory Board a new perspective that will only enhance our ability to become one of the world’s leading alternative asset managers.”

Parekh is on the boards of several leading corporations including as non-executive chairman in India of Siemens, GlaxoSmithKline Pharmaceuticals and BAE Systems India.  He is involved in an advisory capacity for international organisations including: Indo US CEO Forum, City of London - Finance Committee, Indo -German Chamber of Commerce (IGCC) and India-UK Financial Partnership (IUKFP). - TradeArabia News Service