Piramal Enterprises appoints financial services veteran Rupen Jhaveri as Group President

Mumbai, December 22, 2021: Piramal Enterprises Limited (‘PEL’) on Wednesday announced the appointment of Rupen Jhaveri as Group President, with a primary focus on financial services.

In the newly created role, Rupen will be responsible for business development, strategy, M&A, capital allocation and corporate finance. The appointment is effective January 24, 2022.

Rupen’s appointment is pursuant to PEL’s announcement in October 2021 that it would demerge its financial

services and pharmaceuticals operations – with the objective of simplifying PEL’s corporate structure and unlocking value.

Anand Piramal, Executive Director, Piramal Group said, “I am delighted to welcome Rupen to the PEL family. His extensive background in the financial services industry and strong entrepreneurial perspective will be valuable assets to PEL at this pivotal time for the business.”

Rupen joins PEL from global investment firm KKR, where he was a Managing Director at its India private equity team. He had been with KKR India for 13 years and was part of the founding team. He has led transactions including Alliance Tires, Magma Fincorp (Poonawalla Finance), Dalmia Cement, Max Financial Services, Emerald Media, SBI Life Insurance, Bharti Infratel, HDFC Ltd., Ramky Enviro Engineers, Jio Platforms and Reliance Retail.

Prior to joining KKR, he was with Goldman Sachs & Co. in its Principal Investment Area (PIA) and Warburg Pincus in Mumbai.

“I am honored to join PEL, a company I have enormous amount of respect for,” said Rupen Jhaveri. “I welcome this opportunity to work closely with the PEL team to further enhance the Company’s vision of being at the forefront of the rapidly evolving financial services landscape in India.”