Board

Bindu Ananth
Chairperson
President, IFMR Trust

Bindu Ananth has been the President of IFMR Trust since January 2008 and chairs the Boards of IFMR Capital and IFMR Finance Foundation. Prior to this, she worked in ICICI Bank’s microfinance team between 2001 and 2005 and was Head of the new product development team within the Rural Banking Group in 2007. Bindu Ananth has an under-graduate degree in Economics from Madras University and Masters Degrees from the Institute of Rural Management (IRMA) and Harvard University’s John. F. Kennedy School of Government. She is a Fellow of the Global Economic Society and a Member of the Product Advisory Group of CGAP. She is also a member of the FICCI Taskforce on Financial Inclusion and the RBI Committee on Comprehensive Financial Services. Bindu co-edited a book titled “Financial Engineering for Low-Income Households” and has published in the Economic and Political Weekly and the Small Enterprise Development Journal. She also blogs for Forbes India.Bindu is an avid reader of literary fiction, follows Indian classical dance and is a fitness enthusiast.

Charles Silberstein
Independent Director
Former Director, FSA London

Charles Silberstein has twenty-eight years’ experience in international infrastructure finance with deep experience in both project finance and public finance. Charles began his finance career at Moody’s Investors Service in 1980, first covering municipal finance and later as a utility analyst. He left Moody’s in 1981 to work at Merrill Lynch covering the public power sector as an analyst. In 1985 Charles was appointed to be the head of the utility group at the then newly founded financial guaranty company, FGIC, which had been capitalised by five companies including General Electric and JP Morgan Bank. In 1990 Charles left FGIC to set up and manage the Public Finance Department at Financial Security Assurance. In 1995 Charles moved to London to commence international infrastructure finance for FSA, focusing on project finance and serving as Chair of the company’s International Infrastructure Committee which supervised FSA’s infrastructure business worldwide. Under his leadership FSA’s infrastructure group expanded to 27 members, with a core in London and smaller offices in Paris, Madrid, New York, and Sydney. Following on the residential mortgage debt problems that struck the financial guarantors, Charles left FSA in 2008 and set up Safe Harbour Partners, an infrastructure advisory company. Charles holds a bachelor’s degree in East Asian Studies from UCLA and an MBA from New York University. Charles enjoys playing the blues guitar during his spare time.

Dr.Jim Roth
Nominee Director
Co-founder & Partner, Leapfrog Investments

Dr. Darius James Roth is LeapFrog’s Co-Founder, globally recognised as a pioneer of insurance and related financial services to emerging consumers. He co-leads the firm’s European office and South Asia investments. He has driven landmark investments for the firm and has served on LeapFrog’s Investment Committees since inception. Following his PhD at Cambridge, he held senior leadership or advisory roles with The Micro insurance Centre, ILO, Allianz, AIG, KfW and ADB. He authored or co-authored numerous books, reports and publications, including the first manual on Making Micro insurance Work for MFIs and the original 100 Country Landscape Report on Micro insurance. Over 20 years, Jim has been instrumental in transforming the landscape for insurance to emerging consumers in both Asia and Africa.

Dr.Kshama Fernandes
Managing Director & CEO, IFMR Capital

Kshama has extensive experience across financial advisory, consulting, and academia. Prior to joining IFMR Capital, she was Professor & Head of Finance at Goa Institute of Management. She has worked on consulting assignments for the World Bank, the Chicago Mercantile Exchange, Ministry of Finance, Government of India, and NSEIT. She was a core committee member of the Percy Mistry Committee on Making Mumbai an International Financial Centre and also developed the SEBI mandated certification programme for derivatives for the National Stock Exchange (NSE) and NCDEX. Kshama is an avid biker, sky diver, sailor, trekker and mountaineer.

Michael Fernandes
Nominee Director
Partner, Leapfrog Investments

Michael co-leads LeapFrog’s work in South and Southeast Asia, bringing nearly 20 years of experience in operations, consulting and investing. He is the former Country Head for India for khazanah nasional, the sovereign fund of Malaysia, where he focused on financial services and infrastructure and also led the global healthcare team. Michael was responsible for over USD 700 million of direct investments in India, including Yes Bank, L&T Finance and Uniquest. He served on the boards of IDFC, a leading financial services company, and Apollo Hospitals, the leading healthcare services business in India. He also managed the Khazanah healthcare portfolio, ranging from hospitals to health insurance providers that was consolidated under IHH Healthcare and listed in Singapore for a USD 7 billion valuation. Previously, Michael led the USD 250 million global custom manufacturing business for the Piramal Healthcare Group, focusing on global acquisitions, business development, supply chain management and talent. Prior to that, Michael was a partner and spent 12 years with McKinsey & Co. He focused on healthcare and consumer sectors across South and Southeast Asia, and also worked out of the firm’s offices in the UK, Singapore, Israel and South Africa.

Puneet Gupta
Director
CFO, IFMR Holdings

Puneet Gupta was the coordinator of the ICICI Bank’s micro finance practice, responsible for identification and development of new channels and products for connecting micro financial services to rural households. Puneet has a Master’s degree in Rural Management from Institute of Rural Management, Anand (IRMA).

Sucharita Mukherjee
Director
CEO, IFMR Holdings

Sucharita Mukherjee is currently the CEO of IFMR Holdings and Vice Chair of IFMR Trust. She is a director on the board of all IFMR Trust group companies and was the founding CEO of IFMR Capital, from its inception till 2012. She has recently been appointed as a member of the India Advisory Committee to the UNEP inquiry into a sustainable financial system. Previously, Sucharita led the origination and structuring effort in credit derivatives and structured finance for corporates at Morgan Stanley in London where her work included developing innovative asset-backed financing structures in areas such as intellectual property and health-care receivables. She was also part of the credit derivatives team at Deutsche Bank in London, structuring credit-derivatives-linked repackaged investments for financial institutions. She graduated with an MBA from IIM, Ahmedabad, and has a bachelor’s degree in Economics from Delhi University. Sucharita love poetry, scrabble and Hindustani classical music.

Dr. Susan Thomas
Independent Director
Faculty, IGIDR

Dr. Thomas is currently a faculty member at the Indira Gandhi Institute for Development Research (IGIDR), Bombay. She has also served as a member/chair of various committees constituted by the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) and the National Stock Exchange (NSE) on secondary markets, government securities and foreign exchange to name a few. She completed her graduate studies in engineering from the Indian Institute of Technology (IIT), Bombay, and her Ph. D in Econometrics from University of Southern California, Los Angeles.

Udai Dawan
Nominee Director
Managing Director & India Head, Standard Chartered Private Equity

Udai is a Managing Director and the Head for Standard Chartered Private Equity (SCPE) in India. He joined SCPE in 2008 and has been involved in substantial number of SCPE’s investments India till date, and serves on the board of many of the fund’s portfolio companies. Prior to SCPE, Udai worked for 13 years in financial services focused on corporate investing, M&A and corporate finance, both in India and the United States. Udai’s roles have included senior positions with Kotak Mahindra Capital in investment banking, with Sabre Inc. in corporate development, and with Arthur Andersen in corporate finance advisory. Udai has an MBA from the Wharton School, University of Pennsylvania and is a chartered accountant from the Institute of Chartered Accountants of India.

Vedika Bhandarkar
Additional Director
Managing Director, Water.org, India

Vedika Bhandarkar brings more than 25 years of experience building teams and businesses within Indian and international financial institutions. Vedika serves as Water.org’s senior leader in India, overseeing the organization’s water and sanitation program expansion and continuing to scale WaterCredit by directing the provision of capacity-building grants and technical assistance to create, pilot, and scale water and sanitation financing.
Prior to joining Water.org, Vedika served as Vice Chairman and Managing Director at Credit Suisse Securities (India) Private Limited. Previously, she served as the Managing Director & Head of Investment Banking at J.P. Morgan. She began her career at ICICI Bank. Since early 2015, she has dedicated her time to corporate boards and social enterprise, serving as director of several boards and as a volunteer, fundraiser and board member of the Jai Vakeel Foundation, an institution focused on children and adults with intellectual disability. She is based in Mumbai with her family.

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