< PreviousINDIAN POWER LIST 2022 60 Vol. 23/04, April 2022 S unil Kaushal is the CEO of Standard Char- tered Africa and Middle East (AME), and a member of Standard Chartered’s global management team, the highest executive body within the bank. Prior to this, Kaushal was the regional CEO of Standard Chartered – South Asia and CEO – India. He has been with the group for nearly 24 years and has approximately 34 years of bank- ing experience in diverse markets across North Asia, South East Asia, South Asia, Middle East and Africa. Kaushal has held senior roles across wholesale, retail, SME banking and country manage- ment within the group. He has served as the head of corporate banking in the UAE, head of originations and client coverage in Singapore, global head, small and medium enterprises and new ventures in Singapore and CEO of Standard Chartered Bank – Taiwan. Kaushal has led the acceleration of Standard Chartered’s digital trans- formation in the AME region, with the launch of digital banks across nine key markets across Africa. The bank also digitised its wealth management offering and has grown accounts by around 700,000. The successful estab- lishment of these digital banks through Kaushal’s leadership have served as a testament to the bank’s growing digital footprint in the region and its lead- ership in digital banking technologies. In March 2021, he joined MoneyTap, one of the leading fintech companies in India, as a global advisor. In 2018 and 2019, Kaushal was named the Banking CEO of the Year by EMEA Finance and CEO Middle East magazine, respectively. Kaushal held various positions in investment banking, corporate finance and commercial banking and foreign exchange at NatWest Markets, SocGen-Crosby, and American Express Bank in Mumbai. He holds a Bach- elor of Commerce degree from Bombay University, and a postgraduate qualification as a chartered accountant from the Institute of Chartered Accountants of India. Kaushal has also completed general management courses at Harvard Business School, INSEAD, Oxford University, and London Business School. $856m The operating profi t posted by Standard Chartered Bank in the AME region in 2021 SUNIL KAUSHAL CEO STANDARD CHARTERED AFRICA AND MIDDLE EAST BANKING AND FINANCE q We continue to work towards our sustainability ambition to become the world’s most sustainable and responsible bank” arabianbusiness.com 61 2022 INDIAN POWER LIST SUNIL VASWANI Chairman STALLION GROUP 430,000 The capacity in metric tonnes of Stallion Group’s rice mill – the largest in the Sub-Saharan region INDUSTRY q The Stallion Group has today grown beyond its African borders into the Middle East and Asia, and is today a diversifi ed business conglomerate” N amed after Sunil Vaswani’s favourite animal, Dubai-based Stallion Group is one of the best known and managed conglomerates in West Africa which also manages an exclusive brand portfolio of auto- mobiles including Nissan, Porsche, Audi, Volkswagen, Honda, Hyundai, Ashok Leyland, Bajaj, Changan and Skoda. Vaswani has topped the Arabian Business Indian Rich List for 2015, with an estimated net worth of $7.2bn. This unstoppable entrepreneur has been instrumental in building a conglomerate that comprises businesses such as commodities, automobile manufacturing and distributorship, inte- grated rice value chain, agrochemicals, aquaculture, seaport, steel manu- facturing, packaging plants, fertiliser plant, real estate, financial services, technology, logistics and shipping. The summation of his efforts has led to a presence in 18 countries and an impressive 50-year history. His long-standing reputation with globally acclaimed suppliers and his principles have been critical to the group’s sustained growth over the years. As part of his current initiative, Vaswani is driving Stallion Group to consolidate its presence in sub-Saharan markets, while diversifying more heavily into the Middle East. The focus areas include agriculture, FMCG, heavy industries, infrastructure, petrochemicals, power and mining. Vaswani, who lives in Dubai, says his stated vision is to lead the Group into becoming a pre-eminent global corporation, leveraging on the immense potential that Africa represents. Stallion Empowerment Initiative Stallion Empowerment Initiative, the philanthropic arm of Stallion Group, has pledged its support to the local governments of all states across Nige- ria by committing to provide locally produced rice and fish to all the govern- ment run hospitals dedicated to Covid-19. Vaswani revealed that at Stallion Group, their top priority is the health and safety of their employees, custom- ers and community. INDIAN POWER LIST 2022 62 Vol. 23/04, April 2022 SUNNY VARKEY Founder and executive chairman GEMS EDUCATION GROUP S unny Varkey is a man who needs no intro- duction to parents in the UAE. His own parents, both teachers, first came to Dubai in 1959 and, 21 years later, Sunny opened his first school in the emirate, starting a career that would lead him to be a household name across the UAE. Under his leadership, GEMS has become one of the world’s leading players in private education, with 49 schools spread across more than 10 countries, with new schools frequently being announced as the company continues to expand. GEMS long-standing commitment to the field of education has been matched by its success as a company. GEMS Education grew to become the world’s largest provider of private K-12 education by revenue and now owns and operates schools across the Middle East, as well as the US, France, India, Singapore, Malaysia, and Sub-Saharan Africa. Varkey believes in the power of education to reduce poverty, prejudice and conflict around the world. He has forged partnerships with the World Economic Forum, Microsoft, UNESCO, and the Clinton Global Initiative. Last month, GEMS announced plans to expand one of its Dubai schools amid rising demand for places. GEMS Founders School – Dubai (GFS) expanded for the 2021- 22 academic year in September, increasing its capac- ity by an initial 1,000 places and rising to a total of 1,800 in the longer term. In March, Education Business Group (EBG), a Dubai-based non-profit organisation that launched during the height of the Covid-19 pandemic, serves as the first-of-its-kind support network representing 26 private K-12 operators. Operating under the umbrella of the Dubai Chamber of Commerce, Education Business Group works in close proximity with Dubai’s private school operators to strengthen the culture of collaboration within the private sector and its affiliated stakeholders. Today, Dubai boasts 209 private schools representing 248,434 students, of which Education Business Group represents 53 percent across various school backgrounds, fee brackets, curriculums and quality variations. $1m The prize of the annual Global Teacher award by the Varkey Foundation to a teacher who has made an outstanding contribution to the profession EDUCATION q Quality education is the great equaliser. It bridges the gap between the rich and the poor and gives us the greatest opportunity to improve the state of our world” arabianbusiness.com 63 2022 INDIAN POWER LIST 6 million The number of patients treated by Thumbay Hospital Ajman since its inception in 2002 THUMBAY MOIDEEN Founder and president THUMBAY GROUP DIVERSIFIED q We are committed to making Thumbay Medicity the best destination for healthcare, medical education and research” D r Thumbay Moideen, founder and pres- ident of Thumbay Group, is a man of vision with a determination to succeed. He is recognised for the various achievements to his credit. A third generation entrepreneur, Moideen was raised in a traditional family with a business background. Taking to business at the tender age of 21 years, he demonstrated his business acumen from the very start. In 1997, he established the Thumbay Group. Under his dynamic leadership, Moideen had forayed into medical educa- tion and healthcare services when there was no existing set-up to cater to the needs of the students to pursue higher education in medicine and health- care sciences in the private sector. He was the first expatriate to be invited by the rulers of Ajman to start a medical college in UAE and thus, Gulf Medi- cal University took shape which soon became a destination for medical education not only for local students, but to students from over 90 countries. A diversifi ed group making a mark in the global map Thumbay Group is a diversified international business conglomerate with operations across different verticals including education, healthcare, medi- cal research, diagnostics, retail pharmacy, retail opticals, wellness, nutrition stores, hospitality, real estate, publishing, technology, media, events and medical tourism. Headquartered in Dubai, the group presently employs around 3,000 people. Thumbay Group is committed to provide quality care to the community, the Thumbay Hospital network, which today has the distinction of being the biggest chain of private academic hospitals in the region, treats patients from as many as 175 countries. Thumbay Group’s Healthcare Division operates eight academic hospitals, 10 family clinics/medical centres, five diagnostic labs and 46 retail pharmacy outlets. Thumbay Group’s pioneering role in the region has led UAE as a regional hub of futuristic medical education, state-of-the-art healthcare, and cutting- edge research, creating a mark in the global map.INDIAN POWER LIST 2022 64 Vol. 23/04, April 2022 B orn in Kuwait and educated in India and Switzerland, Tony Jashanmal, Group Director, Jashanmal National Co., joined the group in 1973 as managing director of the Kuwait operations. He established several new businesses, rebuilt the Kuwait operations following the first Gulf War, drove the Group’s expansion into India, and established many joint ventures. Jashanmal oversees 150 stores of franchised brands including perfumes, cosmetics, elec- tronics and fashion, boasting names such as Calvin Klein and Brooks Brothers. The stores operate across the UAE, Kuwait, Bahrain, Oman, and India. The group is an equity partner in several regional joint ventures, supported by a proprietary logistics network that manages regional and international supply chains, freight-forwarding, warehousing, and actively seeks partnerships with market-entry firms. A seamless customer experience In 2019, Jashanmal relaunched its brand and integrated in-store technology to create a seamless experience for customers. In addition to revamping the retail website, one of its stores was reopened to include touch screens and tablets for a digitally enhanced, immersive customer experience. He believes in the value of education, having served on the board of the Indian School in Kuwait and the Board of Trustees of Aiglon College in Switzerland. He is closely working with international business partners in the premium and luxury sectors in order to help build brands in the GCC region with the help of the group’s well-established retail operations and its extensive distri- bution and wholesale network. In January, The Indian Business & Professional Council (IBPC) Dubai, one of the oldest, leading, not-for-profit organisations, recognised the large role retail industry plays in the UAE’s economy by organising the first, annual Retail Conclave at The Taj Dubai. The focus was to honour the contribution made by large retail conglom- erates and the Dubai government entities in making the emirate a popular retail hub for consumers worldwide. Jashanmal Group was awarded the Legacy Retail Recognition Award for being one of the oldest retail conglomerates in the region. 1919 The year in which Rao Sahib Jashanmal Jhangiani – Tony Jashanmal’s grandfather – started the family-owned company in Iraq TONY JASHANMAL Group president JASHANMAL GROUP RETAIL q If any member of the family wants to enter the business, he will start at the bottom — at the warehouse” arabianbusiness.com 65 2022 INDIAN POWER LIST 25+ The number of nurseries BON operates all over the UAE q We at British Orchard Nursery, innovation and quality are the key drivers that made us the top choice for parents, and the largest quality- certifi ed pre-school institution in the GCC” B orn and raised in the UAE, Dr Vandana Gandhi, CEO and founder of British Orchard Nursery, has always had a thirst for education and knowledge. She earned a mathematics degree with honours, postgradu- ate diploma in International Business, distinc- tion in Masters in Education from the UK, and Doctorate in Education from the University of Birmingham. With business in her DNA, she wanted to do something innovative and out of the family’s shipping, logistics packing and textile businesses. Gandhi had a successful career in banking which helped her gain the learning experiences in wealth management and quality customer care. The realisation of a dream In 2008, British Orchard Nursery (BON) was launched at its first branch in Jumeirah, and has grown from a single nursery to become the UAE’s most- awarded nursery chain in the GCC with a singular focus on quality education and child development with over 25 convenient locations. Adhering to the British early years foundation stages (EYFS) curriculum that focuses on seven core areas of age-appropriate learning, BON inculcates a holistic curriculum that merges fun with learning, alongside languages including Mandarin and complete curriculum for English, Arabic, Islamic and French studies, along with assorted extra-curricular activities like yoga, music, football and zumba. With the belief that every child comes with an exclusive set of strengths, the nursery caters to more than 1,200 pupils including four partnership contracts with the government of Dubai to provide nursery care and facilities in DEWA, ADCO in Abu Dhabi and Dubai Municipality. BON is also the Middle East’s first and largest nursery chain to be ISO-certified for quality, environment, and health and safety to latest standards. BON has been awarded more than 25 awards including the Sheikh Khal- ifa Excellence Award, the Mohammed Bin Rashid Al Maktoum Award, the Dubai Human Development Appreciation Award, and the Dubai Quality Appreciation award for its dedication to providing quality services and busi- ness excellence. VANDANA GANDHI Founder and CEO BRITISH ORCHARD NURSERY EDUCATION INDIAN POWER LIST 2022 66 Vol. 23/04, April 2022 B eckoned by his father to join the family textile business while still in college, Shroff availed the golden opportunity and arrived in Dubai soon after. His inspiring career trajec- tory began as a salesman and a Hindi teacher at the Indian High School Dubai to the chairman of Regal Group of Companies. Shroff first established Regal Traders on the banks of the Dubai Creek in 1952, initially to deal in wholesaling and indenting of fine fabrics from Japan and India. W hen the late MR Chhabria founded Jumbo Electronics in 1974, the wheels were set in motion for a soon-to-be dynamic legacy. Setting milestone after milestone across various levels, this family-owned business has today become a diverse group of companies. With over 25 years of experience working among leading global technology companies, Chadha focuses on leading Jumbo through a transition of growth across the UAE and GCC support- VASU SHROFF Chairman REGAL GROUP VIKAS CHADHA CEO JUMBO ELECTRONICS RETAILRETAIL A pioneer in the region, the company grew under his astute leadership to become the flagship company of the Regal Group, setting up its first retail chain outlet in Dubai. His diversified conglomerate now has oper- ations across textiles, tech- nology, including high and low-voltage systems, sports- wear and accessories, in addition to investments and real estate. The group has also diversified with subsid- iaries including Regal Tech- nologies, which is the direct- to-home distributor of channels such as OSN, Pehla and Al Jazeera. Shroff also helped estab- lish the Indian Association in 1960 to help people with passport and visa-related issues. He is famous for his philanthropic contributions, including key roles in the establishment of the Indian High School, the Indian Sports Club, the Hindu Temple in Bur Dubai, as well as hospitals across the world. ing Jumbo’s brands, custom- ers, partners and employees. His proven track record of leadership in growing and managing several businesses across various sectors and geographies aligns with the group’s ambitions. Prior to joining Jumbo, he held several leadership roles across reputed multi- national groups, including Honeywell International, L&T, Sharp Corporation, and McKinsey & Co. An electronics and communi- cations engineer, Chadha graduated from Delhi College of Engineering and later went on to procure an MBA in strategic marketing and finance from the Indian School of Business. Today, Jumbo Electron- ics has been operating in the market for more than 44 years, with over 2,000 employees, 60 partner brands, a regional presence across UAE and GCC coun- tries, and has served a whop- ping 10 million customers.arabianbusiness.com 67 2022 INDIAN POWER LIST $80m Petrochem’s investment in its new bulk chemicals tank terminal expansion in Jebel Ali YOGESH MEHTA CEO PETROCHEM MIDDLE EAST ENERGY q Our business benefi tted during the pandemic because one of the main products we manufacture – isopropyl alcohol, was suddenly in demand” D riven by passion and a need to succeed, Yogesh Mehta, CEO, Petrochem Middle East established the brand in 1995 at age 35. Today, 25 years later, with an annual turnover of $2bn, Petrochem is the largest chemical distributor in the Middle East and the 12th larg- est distributor in the world. The company has offices in China, Singapore, Taiwan, India and Amsterdam. In Egypt and Saudi Arabia, Petro- chem has assets with a logistic and chemical storage terminal, thereby expanding their inter- national portfolio as well as creating economies of scale. Petrochem distributes chemicals across pharmaceutical, oilfield, and paint industries, across 38 countries. When the world’s industries were hit by the impact of the Covid pandemic, Petrochem not only survived, but thrived. “Our business benefit- ted during the pandemic because one of the main products we manufacture – isopropyl alcohol, was suddenly in demand,” he says. “So generally, the chemical industry witnessed a big boom and because of the shortages, many countries faced issues with production.” Also, the UAE government’s proactive Covid prevention and vaccination strategies, which Mehta believes also benefitted their business. “The two black swan events – ongoing political hostilities on the other side of the world and Covid – have made a tremendous impact and ultimately, has proven beneficial to the chemical industry.” With a Bachelor of Science in Chemistry from Mumbai, India; Mehta’s first job was at his father’s chemical manufacturing factory in western India, where he honed his innate leadership skills and gained valuable hands-on business experience. Mehta relocated to Dubai in 1990, and in five years, managed to establish a successful chemical distribution business by building a state-of-the- art storage terminal for bulk and drum chemicals. Mehta became a Harvard Business School Alumnus in 2003; his success story has been widely documented across several publications worldwide including BBC and CNN. He strongly believes that Petrochem Middle East’s success has been a result of forecasting and anticipating market and customer needs and affirms that his fellow directors and colleagues are the business’s greatest assets. Under his leadership, Petrochem Middle East has now evolved into trad- ing and providing storage and logistical services. His son Rohan joined the business eight years ago and is now an integral part of the success story. Petrochem is newly tripling its storage and distribution capacity with a modern bulk storage, blending and manufacturing capability in Jebel Ali.INDIAN POWER LIST 2022 68 Vol. 23/04, April 2022 K erala-born Yusuffali MA embodies razor-sharp business acumen and has consistently delivered ambitious growth for LuLu Group. It’s little wonder, then, that he was chosen for a prestigious Arabian Business Achievement Award in 2018. Headquartered in Abu Dhabi, Lulu Group is best known for its chain of hypermarkets, which have long served a wide segment of Gulf residents. Deloitte ranked LuLu Group as the top retailer in the Middle East and 27th in a list of the fastest growing retailers in the world. Elected by the UAE business community to the board of the Abu Dhabi Chamber of Commerce & Industry (ADCCI) was a momentous milestone for Yusuffali MA as it was the first time that elections were held for the ADCCI and an expatriate was elected to the board. He was also unani- mously elected by board members as the vice-chairman of the prestigious Trade Committee of the ADCCI. After four years, in 2009, he was re-elected to the board of ADCCI. In 2021, he was appointed as second vice chairman of ADCCI by Sheikh Mohamed bin Zayed bin Sultan Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces; making Yusuffali MA the only non-Arab to be in the board of ADCCI for a record four times in a row. Hospitality segments Twenty14 Holdings is the hospitality investment arm of the Abu Dhabi based LuLu Group International. Founded in 2014 to capitalise on the growth in the global hospitality industry, the company has already acquired a number of prestigious properties. Twenty14 Holdings currently has assets worth more than $750m spread across UK, Europe, GCC and India. The group has also completed the acquisition of a Waldorf Astoria property in Edinburgh, Scotland, for $120m. The Caledonian joins a portfolio of $650m worth of luxury prop- erty across the UK, the Middle East and India. $6.2bn The retail revenue that LuLu Group rakes in annually across its operations in nine countries YUSUFFALI MA Chairman and managing director LULU GROUP RETAIL q Our aim is to provide more than 15,000 direct and indirect job opportunities to Tamil youth in the next three years” arabianbusiness.com 69 2022 INDIAN POWER LIST 4,000 The number of staff employed by Zulekha Healthcare Group ZULEKHA DAUD Founder and chairperson ZULEKHA HEALTHCARE GROUP HEALTHCARE q We shouldn’t just give prescriptions to our patients, what we should give is compassion” T he first recognised Indian woman medi- cal professional and senior most female entrepreneur in the UAE, Dr Zulekha Daud has tirelessly worked towards the welfare of Emiratis and expatriates, especially at a time when healthcare access was very limited in the 60s. In the past five decades, she has trans- formed the healthcare landscape and inspired others to follow in her footsteps. And today, Zulekha Healthcare Group boasts of medical centres, super-speciality hospitals, educational institutes and pharmacies both in the UAE and India. Unwavering dedication to help others In 1964, Daud received her medical degree from the Government Medical College in Nagpur. She arrived in the UAE to work in the Kuwaiti Mission Hospital in Sharjah. By 1965, as a practicing physician serving patients from all walks of life, Daud began practicing medicine from a small clinic in Shar- jah and soon became known as Mama Zulekha. In the mid-1960s, she treated the late Sheikh Zayed bin Sultan Al Nahyan, the nation’s founding father, on a visit to Al Ain. Zulekha Hospital was established in Sharjah in 1992 as a 30-bed hospital with basic facilities for gynaecology, obstetrics, surgery, medicine and paediatrics. Growing more successful over the years, in 2004, Zulekha Healthcare Group (ZHCG) was established through a second hospi- tal in Dubai along with three medical centres and pharmacies. In 2012, Zulekha Hospital, Sharjah became a full-fledged, multi-discipli- nary hospital and diagnostic centre with outpatient and inpatient facilities. The 12-floor facility is sprawled over an area of 240,000 sq ft and the group became the first in the UAE to have both hospitals accredited by Joint Commission International for high quality care. It was in December 2016 when the group announced its first foray into the overseas market through the $43.6m Alexis Multi-Specialty Hospital in Nagpur. Daud is also well-known for her support for CSR initiatives, which included education and vocational training programmes for women and public health awareness campaigns.Next >