Deepak Parekh | |
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.jpg) Parekh (left) seated with Timothy Geithner at aCII meeting in October 2009. | |
| Born | (1944-10-18)18 October 1944 (age 81) |
| Alma mater | |
| Occupation | Former Non-Executive Chairman of theHDFC |
| Relatives | Hasmukhbhai Parekh (uncle) |
| Awards | Padma Bhushan |
Deepak Parekh (born 18 October 1944) is an Indian businessman and the former chairman ofHousing Development Finance Corporation,India's leading housingprivate development finance institution. It is based inMumbai.[1][2]
Parekh completed his schooling atSt. Xavier's High School, Fort[3] and later graduated with aB.Com fromSydenham College affiliated with theUniversity of Mumbai.[4] He went to England in 1965 to qualify as achartered accountant with theICAEW; he completed his articles with Whinney, Smith and Whinney (which later becameErnst & Young) in London.
He also cleared the Certified Associate of Indian Institute of Bankers (CAIIB) ofIndian Institute of Banking and Finance. He cleared his ACA exams in the first attempt and was afterwards posted at the firm's consulting armErnst & Ernst in New York.[5]
Parekh has worked atErnst & Young,Grindlays Bank, andChase Manhattan Bank as its assistant representative forSouth Asia. He joinedHousing Development Finance Corporation (HDFC) in 1978. HDFC was founded by his uncle,Hasmukhbhai Parekh.[6] Parekh also became the Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), a specialised financial institution for financing infrastructure projects in 1997. He is also the Non-Executive Chairman of Glaxo India Ltd & Burroughs Wellcome (India) Ltd and on the Board ofCastrol India Limited, Fairfax India Holdings Corporation, and Siemens Ltd,Mahindra & Mahindra, Indian Hotels Company andSingTel. Parekh is an advisory board member ofAIESEC India and US Engineering consultancy giant, AECOM and Tribeca Developers.
Parekh has been a member of various Committees set up by the Government of India. He was appointed Chairman of the high level expert committee formed to recommend measures for strengthening the Unit Scheme in 1964. TheReserve Bank of India appointed him Chairman of the Advisory Group forSecurities Market Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries. He was also Chairman of the Expert Committee constituted by the Ministry of Power to look into the reform efforts in the power sector.
Deepak Parekh has won several awards including Businessman of the Year 1996 fromBusiness India and theJRD Tata Corporate Leadership Award by All India Management Association (AIMA). He was the first recipient of the Qimpro Platinum Award for Quality for his contributions to the services sector, and the youngest recipient of the Corporate Award for Life Time Achievement bythe Economic Times.Padma Bhushan was conferred on him by the Government of India.[7] In 2010 he was the first international recipient of TheInstitute of Chartered Accountants in England and Wales’ Outstanding Achievement Award, for his contribution over many years to the finance and accountancy profession.[8] He was appointed as the advisor to Sunil Gavaskar who was interim chairman of IPL-7.[9] Parekh is also on theAdvisory board ofIIMUN.[10]
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