Deepak Parekh (born 18 October 1944) is an Indian businessman and the Chairman of

Housing Development Finance Corporation Housing Development Finance Corporation Limited (HDFC) is an Indian private development finance institution based in Mumbai. It is a major housing finance provider in India. It also has a presence in banking, life and general insurance, ass ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

's leading housing private development finance institution. It is based in

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- ...

Education

Parekh completed his schooling from St. Xavier's High School, Fort and later graduated with a

B.Com A Bachelor of Commerce (abbreviated BComm or BCom; also, ''baccalaureates commercii'') is an undergraduate degree in business, usually awarded in Canada, Australia, India, Sri Lanka, Pakistan, Ireland, New Zealand, Ghana, South Africa, Myanma ...

from

Sydenham College Sydenham College of Economics is a college located in Mumbai, Maharashtra, India. It is affiliated to the Dr. Homi Bhabha State University. The college offers undergraduate and postgraduate degrees in management. It was awarded a re-accreditat ...

affiliated with the

University of Mumbai The University of Mumbai is a collegiate university, collegiate, State university (India), state-owned, Public university, public research university in Mumbai. The University of Mumbai is one of the largest universities in the world. , the un ...

. He went to England in 1965 to qualify as a chartered accountant with the

ICAEW The Institute of Chartered Accountants in England and Wales (ICAEW) is a professional membership organisation that promotes, develops and supports chartered accountants and students around the world. As of July 2022, it has over 198,000 members ...

; he completed his articles with Whinney, Smith and Whinney (which later became

Ernst & Young Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...

) in London. He also cleared the Certified Associate of Indian Institute of Bankers (CAIIB) of

Indian Institute of Banking and Finance The Indian Institute of Banking and Finance (IIBF), formerly Indian Institute Of Bankers(IIB) imparts professional education in banking and finance. It is known for its flagship courses, the Junior Associate of Indian Institute of Bankers ( ...

. He cleared his ACA exams in the first attempt and was afterwards posted at the firm's consulting arm Ernst & Ernst in New York.

Career

Parekh has worked at

Grindlays Bank The historic overseas bank was established in London in 1828 as Leslie & Grindlay, agents and bankers to the British army and business community in India. Banking operations expanded to include the Indian subcontinent, the Middle East and elemen ...

, and

Chase Manhattan Bank JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and fina ...

as its assistant representative for

South Asia South Asia is the southern subregion of Asia, which is defined in both geographical and ethno-cultural terms. The region consists of the countries of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.;;;;;;;; ...

. He joined

in 1978. 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 of Castrol India Limited, Fairfax India Holdings Corporation, and Siemens Ltd,

Mahindra & Mahindra Mahindra & Mahindra Limited (M&M) is an Indian multinational automotive manufacturing corporation headquartered in Mumbai. It was established in 1945 as Mahindra & Mohammed and later renamed as Mahindra & Mahindra. Part of the Mahindra Group, ...

, Indian Hotels Company and

SingTel Singapore Telecommunications Limited, commonly known as Singtel, is a Singaporean telecommunications conglomerate and one of the four major telcos operating in the country. The company is the largest mobile network operator in Singapore with ...

. Mr. Parekh is an advisory board member of

AIESEC AIESEC is an international youth-run, non-governmental and not-for-profit organization that provides young people with leadership development, cross-cultural internships, and global volunteer exchange experiences. The organization focuses on emp ...

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. The

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...

appointed him Chairman of the Advisory Group for

Securities Market Security market is a component of the wider financial market where securities can be bought and sold between subjects of the economy, on the basis of demand and supply. Security markets encompasses stock markets, bond markets and derivatives mar ...

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.

Awards and honors

Deepak Parekh has won several awards including Businessman of the Year 1996 from ''Business India'' and the

JRD Tata Jehangir Ratanji Dadabhoy Tata (29 July 1904 – 29 November 1993) was a French-Indian aviator, industrialist, entrepreneur and chairman of Tata Group. Born into the Tata family of India, he was the son of noted businessman Ratanji Dadabhoy ...

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 by

the Economic Times ''The Economic Times'' is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. ''The Economic Times'' began publication in 1961. As of 2012, it is the world's second-most widely read English-language bus ...

Padma Bhushan The Padma Bhushan is the third-highest civilian award in the Republic of India, preceded by the Bharat Ratna and the Padma Vibhushan and followed by the Padma Shri. Instituted on 2 January 1954, the award is given for "distinguished service ...

was conferred on him by the Government of India. In 2010 he was the first international recipient of The Institute of Chartered Accountants in England and Wales’ Outstanding Achievement Award, for his contribution over many years to the finance and accountancy profession. He was appointed as the advisor to Sunil Gavaskar who was interim chairman of IPL-7. Parekh is also on the

Advisory board An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation. The informal nature of an advisory board gives greater flexibility in structure and management compared to th ...

IIMUN I.I.M.U.N. (India's International Movement to Unite Nations, also known as: Indian International Model United Nations or IIMUN) is a youth organisation comprising 26,000 young organisers who put together student conferences in 220 cities and 35 co ...

References

{{DEFAULTSORT:Parekh, Deepak Businesspeople from Mumbai Recipients of the Padma Bhushan in trade and industry Indian accountants 1944 births Living people People from Gujarat HDFC Group