The UK India Business Council (UKIBC) has appointed Richard Heald, Vice Chairman, N M Rothschild & Sons (India), as its new Chief Executive.
UKIBC Chair, Rt Hon Patricia Hewitt, who is a member of the delegation accompanying Prime Minister David Cameron in India this week, said: "We received a large number of excellent applications for the post of chief executive. But Richard was the unanimous choice of the UKIBC Board and I am delighted that he has accepted this appointment.
"Richard's deep knowledge and love of India, combined with his extensive business experience, make him the right person to lead UKIBC at this exciting time in UK - India relations. Working closely with UK Trade and Investment (UKTI), UKIBC has a vital role in helping to deliver the Prime Minister's vision of an 'enhanced partnership' with India and I am sure that Richard's appointment will be widely welcomed by UK and Indian business and government leaders. "
Heald has worked for Rothschild for 17 years and has been travelling to India for the last 20 years. He has extensive experience of investment between UK and India, marketing opportunities in India for UK businesses, including SMEs, and UK opportunities for Indian companies. Specifically, he has been involved in major transactions for companies as diverse as the Tata Group, Cairn PLC, Bharti Enterprises, Mahindra & Mahindra, PTC India and the Hero Group.
Richard Heald said: "The Indian economy is expected to double within the next 10 years. UK - India trade flows should aim to at least increase by the same amount over the same period. This will only be achieved if based on a strong appreciation of the operating environment and on mutual commercial advantage. Happily, the opportunities for increasing trade flows between UK and India are immense. The current statements by the UK government have set the tone by declaring that "Britain is open for business". The role of the UKIBC, working closely with UKTI, is to be involved in the execution of this policy and to assist its members - both in the UK and in India - to turn this into reality. I am delighted to be involved in this effort."
Lord Bilimoria, President, UKIBC, also in India with the Prime Minister, said, "The UKIBC has achieved so much since it was founded three years ago and I am delighted that Richard Heald is joining as the Chief Executive to lead UKIBC in helping to greatly enhance trade, business and investment between our two countries when our relationship is going from strength to strength."
Welcoming the appointment, Sir Andrew Cahn, Chief Executive, UKTI said, "I welcome the appointment of Richard Heald as CEO of the UKIBC. As the PM's visit this week has shown, reshaping and rejuvenating the UK's business relationship with India is a key priority for the new coalition government and the UKIBC has an important role to play in this."
UKIBC is the leading membership organisation promoting UK - India trade and connecting businesses, entrepreneurs and professionals between the two countries. It works very closely with the government's trade promotion arm, UKTI. The UKIBC has over 125 members, including MNCs, trade associations and SMEs from across all sectors. SMEs make up the vast majority of members.
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NOTES TO EDITOR
Richard is a Managing Director of Rothschild, London, and Vice Chairman of Rothschild India. Richard has been travelling to Asia (including India) for 20 years but has been increasingly focusing on India since 2000. He currently spends some 50 pct of his time in India where he has been closely involved in building up Rothschild franchise in India. During this period he has developed an in depth knowledge of the Indian business and operating environment as well as extensive relevant Indian sector knowledge. He has developed extensive contacts amongst the Indian business community, the London and India based PE community. He has been active with the Indian Government, particularly in the area of disinvestment and continuous inter-action with High Commission and with UKTI in India.
At the same time, he has marketed to UK corporates large and in the SME arena (NRI as well as UK owned) and has interacted with UK based legal, insurance and financial services companies. He has spoken at Conferences - in India and Europe - on economic/ business matters and is frequently quote in the Indian press on banking matters.
Richard graduated from Oxford University with a degree in law. He is married with two daughters.
About UKIBC
The UK India Business Council (UKIBC) is the premier membership-led organisation supporting the UK Government in the promotion of trade, business and investment between the two countries.
UK India Business
o UK-India trade is £11.5 billion. The UK is the top European investor in India and India is the top Asian investor in UK by number of projects.
o In 2008/9, the UK attracted
108 project investments from India, generating
4139 new jobs.
o There are more than 700 Indian companies with investments in the UK; about two thirds are in the ICT/software sector. The stock of Foreign Direct Investment from India at the end of 2008 was £3.5bn.
To see the full list of members, please go to
www.ukibc.com