Board of Directors

Shitin Desai
Independent Director

Mr. Shitin Desai is a veteran with more than 40 years of experience in the banking and financial services sector. Mr. Desai holds a bachelor's degree in Commerce from the University of Mumbai.
Mr. Shitin Desai served as a Consultant to “Bank of America Merrill Lynch”. Before this he served as an Executive Vice Chairman of “DSP Merrill Lynch Ltd.” until September 1, 2012. DSP Merrill Lynch Ltd. is a subsidiary of Bank of America Corporation and is engaged in investment banking and is a brokerage entity, providing capital raising solutions, mergers and acquisitions advisory, securities research and sales and trading capabilities and Mr. Shitin Desai was one of its Founding Directors.

He is also the Chairman & Independent Director on the Board of ‘DSP Blackrock Trustee Company Pvt. Ltd.’, engaged in trusteeship business and which is a joint venture between DSP Group, one of the oldest and most respected financial services firms in India and Blackrock, which is one of the largest investment management firm with millions of retail investors, small and big companies from around the world, governments, large global foundations as its stakeholders / investors.

Mr. Desai is also associated as the Chairman and Independent Director of “Julius Baer Wealth Advisors (India) Pvt. Ltd.” and is on its Board since April 13, 2015. He is also an Independent Director on the Board of “Sharda Cropchem Limited”, since December 16, 2013 and as an Independent Director on the Board of “Piramal Fund Management Pvt. Ltd.” since December 18, 2015.

He is involved in various Corporate Social Responsibility (CSR) activities and is a Director on the Board of “Foundation for Promotion of Sports & Games”, a Not-for- Profit (Section 25) Company which assists potential athletes to achieve their dream and win Olympic Gold Medals.

He is a Member of the Advisory Board of ‘Kherwadi Social Welfare Association’ (KSWA), which is one of the largest NGOs providing livelihoods to underprivileged youth by making them economically independent through vocational training.

Mr. Desai was also a member on the Committee on Takeovers appointed by SEBI, Investor Education and Protection Fund constituted by Ministry of Corporate Affairs, the RBI Capital Market Committee, Advisory Group of Securities Market of RBI and Insider Trading Committee. He is a Member of The Federation of Indian Chambers of Commerce and Industry.

Chairman - Piramal Group
Director - Piramal Fund Management Pvt. Ltd.
Independent Director