Board Of Directors

Mr. Analjit Singh is the Founder and Chairman of Max India Limited, Chairman of Max New York Life Insurance Company Limited; Max Healthcare Institute Limited and Max Bupa Health Insurance Company Limited. He has been the driving force behind the Max India Group's sustained growth and success since the mid 80's.

A self made entrepreneur, Mr. Analjit Singh has been leading the charge of reinventing and restructuring the Max India Group with a vision to be amongst India’s most admired companies for Service Excellence.

Today, Max India Limited is a multi-business corporate, focused on People and Service-oriented Businesses of ‘Life’. Max India Group is present in the areas of Life Insurance (Protecting Life) through Max New York Life Insurance, a Joint Venture with a Fortune 100 company New York Life; Healthcare (Caring for Life) through Max Healthcare; Health Insurance (Enhancing Life) through Max Bupa Health Insurance; a Joint Venture with Bupa Finance Plc U.K. Clinical Research (Improving Life) through Max Neeman Medical International; BoPP and Speciality Foils manufacturing through its division Max Speciality Films.

Max India Group’s turnover for Calendar Year 2010 was over INR 78,360 million with a customer base of 4.4 million. The total investment in various businesses at the end of Year 2010 stood at INR 22,500 million. The Group has over 400 offices across India; with people strength of over 73,000.

Recognizing Mr. Analjit Singh’s contribution towards building India Inc., the Indian Government has recently conferred him with the prestigious Padma Bhushan Award, one of India’s highest civilian honors. As one of India’s leading business-persons, Mr. Analjit Singh is a Member of the Prime Minister’s Joint Indo-US CEOs Forum. He is the non-executive Chairman of Indus Towers, India’s leading ‘Shared Telecom Infrastructure’ Services Company. He is a Director on the board of several leading Indian companies such as Industrial Development Bank of India (IDBI Ltd.), Vodafone Essar, Tata Tea and Hero Honda Motors. He is also the Vice Chairman of one of India’s leading industry Associations, Assocham.

Mr. Analjit Singh is actively involved in social service, through his role as the Chairman and Chief Patron of Max India Foundation (MIF), the Social Service arm of Max India Group. Committed to fostering an inclusive society, MIF spearheads the CSR initiatives of the various Max India Group companies and also partners with several reputable NGOs such as SOS Children’s Village, Manav Seva Sannidhi, CanSupport and Chinmaya Mission. The Foundation’s main focus areas are:

• Providing improved access to quality healthcare for underprivileged, particularly children.
• Creating awareness on health-related issues such as women's health, cancer, cardiovascular diseases and immunisation of children.
• Improving awareness of environmental issues with a view to supporting a sustainable and eco-friendly environment.

He is also the Life Chairman, Bhai Mohan Singh Foundation and Member, Governing Board of Bharti Foundation.

Mr. Analjit Singh is the Consul General (Honorary) of the Republic of San Marino in India.

Senator Hillary Clinton, on behalf of The Indian American Center for Political Awareness (IACPA), awarded Mr. Analjit Singh for his ‘outstanding achievement’ in presenting the international community with an understanding of a modern and vibrant India. The IACPA has particularly lauded his efforts in forging several successful Joint Ventures with leading American companies and promoting business ties with the US.

Mr. Analjit Singh is an alumnus of Doon School, Dehradun; Shriram College of Commerce, University of Delhi; School of Management and the Graduate School of Management, Boston University, Boston, USA. He is married and has three children.

Mr. Anuroop (Tony) Singh was appointed as a Chief Executive Officer and Managing Director of the company with effect from February 23, 2001 till December 31, 2004. He is also an independent Director on the Board of other corporate entities including philanthropies.

Mr. Anuroop Singh has also been the Country General Manager for retail banking at Bank of America for five years. Mr. Singh worked for 15 years in various positions with American Express, establishing the company in several countries in the region. Mr. Singh worked with A.F. Ferguson and Co., a leading firm of public accountants in India, as a Management Consultant for two years. He also worked overseas, with Ernst and Young.

He is a Chartered Accountant with over three decades of experience in the financial services sector, including two decades as a Chief Executive for various businesses. Having built a number of successful businesses, he is now pursuing Board level engagements with select professionally managed and value driven organizations, which aim to leverage the full potential of an active Board.

Mr. Rajesh Sud was appointed CEO and Managing Director with effect from November 1, 2008 of Max New York Life Insurance, the first Indo - American joint venture business to start operations in 2001 when the insurance sector was opened to private participation. A founder team member, Rajesh was amongst the first few management team members to join Max New York Life Insurance.

He leads the company towards achieving its vision of being the most admired life insurance company in the country.

Prior to this, Rajesh was responsible for establishing a multi channel distribution network for the individual life business. Rajesh has successfully established Agency as the core channel for the company with strong focus on process, training and productivity. These strong foundations have allowed Max New York Life Insurance to rapidly grow to pan India presence with a professional and trained sales force, which is widely regarded as the best in the industry.

Apart from his distribution role, Rajesh has also worked on many cross-functional projects and Played a key role in defining Max New York Life’s business strategy and growth plans.

Prior to joining Max New York Life Insurance, Rajesh was the Head of Asset Finance business at the largest foreign bank in India, ANZ Grindlays Bank and was seconded as the CEO and MD of the Bank's subsidiary finance company, Esanda Finance and Leasing Ltd. Rajesh started his career with Bank of America and held various positions of increasing responsibility. Rajesh was part of the transition team that managed the successful sale of Bank Of America’s consumer banking business to ABN Amro Bank and served as the Head of Consumer Banking Sales.

Rajesh completed his Advanced Management Program from Wharton Business School, University of Pennsylvania, Philadelphia, USA. He also has a Management post graduation degree in Marketing and Finance from Faculty of Management Studies, Delhi University.

Mr.  Rajit Mehta is the Executive Director and Chief Operating Officer of Max New York Life, a leading private life insurance company in India. He is a member of the Board of Directors of the Company, and is on the Policyholder Protection Committee of the Board besides being an invitee to the Audit Committee of the Board as well.

Rajit represents Max New York Life on the Consortium Board of School of Inspired Leadership (SOIL) a unit of Grow Talent Co. Ltd. co-created by a group of leading companies from across Industry verticals that aims to build competent, compassionate and inspiring leaders. He is also a trustee of the Max Foundation - the CSR arm for the Max Group of Companies.

Rajit is a founder member of the Company and has seen it through its formative years. His current responsibilities include Customer Service and Operations, Information Technology, Business Excellence and Infrastructure And Facilities. He was also involved in Project Max Vijay, an innovative Retail business model aimed at providing protection and long term wealth creation opportunities to the underserved segments in India.

He has recently taken over additional responsibilities as the Chief Transformation Officer for the company. The Transformation office has been setup to facilitate the organization to realize its new strategy over the next 2-3 years.

Rajit has been instrumental in building the company’s Human Capital, recruiting and retaining a strong management team, creating a positive work environment and culture and ushering "best-in-class" HR practices. Max New York Life was amongst the Top 20 Best employers in the first Great Places to Work survey, ranked 7th in the Business Today - Mercer Best Employers study in 2008 and has also been awarded the 2009 Gallup - Great Workplace Award.

He has successfully led several projects to achieve Service Excellence and Operational Efficiencies to support business strategy. This entailed putting a Service Blueprint in place, reconfiguring the Organization Design, Technologies, Front-end Service delivery system and introduction of Self-Service mechanisms to improve Customer Experience.

Max New York Life is a proud recipient of the CII Certificate of Business Excellence 3 years in a row, Quality D-Shaw Award and the CIO Award 3 year in a row as well.

As part of the Transformation initiatives, Rajit has been involved in finalizing of the Strategic blueprint for the company over next 2-3 years, rationalizing the cost structure substantially to improve profitability and laying down a comprehensive Change Management agenda to support the new strategy.

Rajit has played a strategic role in helping the company expand its distribution footprint across India including facilitating a project to "Revamp Sales processes". This entailed gathering first hand insights from customers and agents, doing 360 degree diagnostics, aligning the sales team to potential solutions and setting up mechanisms to monitor execution and progress. The project culminated in Rajit co-authoring a book titled "Growth Leadership Practices at Max New York Life".

The Max Vijay initiative - a unique Retail Insurance endeavor was recognized with the Golden Peacock Award at London in September 2008 and Asia Insurance Industry Award - Innovation of the year at Singapore in November 2009. Max Vijay has also been taken up as a case study at the Wharton Business School and as a thesis subject by the Emylon Business School in France. This project entailed putting in place a viable business model, designing appropriate products, installing a robust backend process through an outsourcing arrangement with IBM, designing a Marketing strategy and recruiting a management team to take the innovation to the market. The project has had mixed results and is currently not being pursued actively.

Rajit is part of the Core Strategy Team at Max New York Life, and has overseen large change management initiatives including 2 CEO transitions. Prior to Max New York Life, he was the Director - Personnel at Bank of America and has also worked with HCL. His total experience spans 25 years. At Bank of America, he was part of the team which set up the Retail Division and was also involved in managing two large exit programs including sale of the Retail division to ABN Amro Bank. He helped set up the training function for the Asia Region of the Bank.

Rajit is a graduate in Commerce, post graduate in Human Resources and has also attended an Advanced Management Program at INSEAD - France. He is the recipient of the Chairman's Award for Excellence at Max New York Life.

Mr. Rahul Khosla was appointed the Director of Max New York Life Insurance with effect from February 2012. Rahul is a seasoned business manager with wide domain expertise built over 27 years in financial services. He has deep management experience, strong leadership skills, and broad business perspectives developed across several multinational environments, both globally and in India.

His last role was based in Singapore as Group Head of Products for Visa, for all markets in Asia Pacific, Central Europe, Middle East and Africa and represented the region on Visa's Global Product Management Team. Previously, he was Chief Operating Officer for Visa Asia Pacific. In his 11 years with Visa, Rahul helped to exponentially grow the business and build Visa's leadership through product innovation, senior client interface, organizational effectiveness and business execution.

Before joining Visa, Rahul was the country head for ANZ Grindlays' Personal Financial Services businesses in India, with P&L responsibility across all aspects of retail banking. He developed and implemented a strategy to transform and turn around the largest foreign-owned bank in India and restructured the bank's sales processes, balance sheet management, revenue drivers, margin optimization, organization structure and expense management to achieve significant traction across all profitability dimensions.

Rahul worked in Bank of America in India as Head of Retail Assets, Strategy, Finance and Legal, where he helped to re-launch the bank's retail business in India, established national market leadership on the auto loan business and established important partnerships and regulatory approvals that set the foundations for the retail bank's growth.

He spent almost 10 years in American Express, where his last role was to set up a pioneering BPO facility for American Express in India where he successfully migrated financial processes from Asian markets. Before this, Rahul was CFO for the American Express TRS businesses for India and South Asia, and was a member of the core team that launched India's first American Express local currency card, won the Chairman's Award for a significant automation project and authored a landmark client profitability analysis for the businesses.

Rahul is a Chartered Accountant (articled with A F Ferguson & Co) and graduated with honours in Economics from St Stephen's College, Delhi.

Ms.Theron was appointed Director of MNYL with effect from May 2009. She is a Principal of Erlen Street Corporation, Switzerland, a company that specialises in strategic investment and management consulting solutions.

Prior to that, Ms Theron worked in both consulting and corporate roles for multi-national companies and governments across Europe, Asia, Australia, New Zealand and South Africa, advising on insurance and investment related solutions. She holds a B.Sc. majored in Actuarial Science from Laval University, Canada and is a Fellow of the Society of Actuary (FSA).

Asian life insurance specialist, Gary Bennett, has nearly 30 years' experience in the industry and has worked for a number of companies in Australia and across the Asia-Pacific region. Gary is currently Executive Vice President and Chief Executive Officer for the Asia Region of New York Life International, LLC. In this role he is responsible for setting the overall vision and framework for the strategy of the operations and business activities in Thailand, Hong Kong, Taiwan, China and Korea, and is the Senior Executive Officer of the Asia Regional Office. Gary serves on the Boards of Haier New York Life in China, New York Life Insurance Worldwide in Hong Kong and Siam Commercial New York Life in Thailand*. He is also Chairman of the Board of New York Life Insurance Taiwan Corporation.

From 2008 to 2010, Gary was Executive Vice President and Greater China Chief Executive Officer. Prior to that, from 2005 to 2008, Gary led Max New York Life Insurance as Managing Director and CEO. Under his leadership, a wide distribution network of more than 500 offices across 250 cities in India was established. Before moving to India, Gary was President and Chief Executive at New York Life International’s Hong Kong operation.

Prior to joining New York Life International, Gary was Managing Director - North Asia, Prudential Corporation. During his tenure, he was a member of the PCA Regional Board, Life ExCo and Chairman of its life insurance companies in Japan and Korea as well as a Director of PCA Asset Management, Japan. Before this, he was Chairman and Chief Executive Officer of Colonial Mutual Group (CMG) Asia Life in Hong Kong, where he led CMG's significant growth - tripling the business in three years. He was also instrumental in establishing CMG Asia Pensions and Retirement Co. and CMG Asia Trustee.

Gary Bennett also held a number of senior management positions for CMG in the Asia-Pacific region – he was CEO and Chairman of Jardine CMG Consulting in Singapore, where he worked on the China Licensing Team and headed the team that saw CMG receive the first Australia Joint Venture Life Insurance Licence in Vietnam. Gary joined CMG following successful leadership roles with Armstrong Jones Life and GIO Australia.

Gary has been involved as a member of the Life Insurance Council in India, Chairman of its Consumer Awareness Committee and on the Board of LIMRA India, Sri Lanka, Japan and Hong Kong. He has been a speaker at many industry conferences and seminars, as well as being an expert commentator on life insurance for the Gerson Lehrman Group.

Dr. Omkar Goswami was appointed director of the company with effect from December 3, 2008. Dr. Goswami is the Founder and Chairman of CERG Advisory Private Limited, a corporate and economic research company.

A professional economist, Dr. Goswami serves on the board of several leading Indian corporates including Dr. Reddy’s Laboratories, Infosys Technologies, Infrastructure Development Finance Company, Crompton Greaves, Cairn India Ltd., Ambuja Cement, Godrej Consumer Products and DSP Merrill Lynch Fund Managers. He has served on several government committees. Dr. Goswami did his Masters in Economics from the Delhi School of Economics and his D Phil from Oxford. He taught and researched economics for 18 years at various international and Indian universities before becoming the Editor of Business India. He has also served as the Chief Economist of the Confederation of Indian Industry, the premier apex industry organization of India. Dr. Goswami has also been a consultant to World Bank, the IMF, the Asian Development Bank and the OECD.

Other than his regular columns for newspapers and magazines, Dr. Goswami has authored three books and over 70 research papers.

Mr. Leo Puri has been on the Board of the Company since December 2009 and effective February 1, 2011, he was designated as an Independent Director on the Board of the Company. In addition, He is on the board of Max India Limited, Max Bupa Health Insurance Limited and Max Healthcare Institute Limited as a Non-executive Director.

Mr. Puri is a Senior Advisor to McKinsey & Company's Asia-Pacific Financial Institution Practice. He has served as a Senior Partner of the firm, and has 25 years experience of working in consulting to financial institutions. Between 2007 & 2011, he was a Managing Director with Warburg Pincus & Company, a leading Private Equity firm, responsible for investments in India and financial institutions in relevant Asian markets.

He holds a Master's degree in Politics, Philosophy and Economics from Oxford University and a Master's degree in Law from Cambridge University.