Press release from Business Wire India
Source: The Institute of Chartered Accountants in England and Wales
Tuesday, February 02, 2010 02:20 PM IST (08:50 AM GMT)
Editors: General: Consumer interest, People; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Construction, Real estate
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Mr. Deepak Parekh is the First International Recipient of "The Institute of Chartered Accountants in England and Wales' Outstanding Achievement Award
An International First - Top Indian Financial Leader Wins Accountancy Accolade
London, United Kingdom, Tuesday, February 02, 2010 -- (Business Wire India) -- Mr. Deepak S Parekh FCA, Chairman of the Housing Development Finance Corporation (HDFC), India's first and largest mortgage company, has become the first international recipient of The Institute of Chartered Accountants in England and Wales' (ICAEW) Outstanding Achievement Award.
Mr. Parekh received the ICAEW's accolade for 2010 in recognition of his outstanding contribution over many years to the finance and accountancy profession. During a long and distinguished career, this has included his work on the Government of India's Investment Commission, membership of various other Committees set up by the Government of India, his Chairmanship of HDFC Limited and his non executive Director roles in other significant entities.
Sir Michael Lickiss, Chairman of the Selection Committee, said: "Deepak Parekh's achievements and the breadth and depth of his influence on the financial sector and business in general in India are phenomenal. Wherever business acumen, experience, insight and intelligence are required, his name is guaranteed to appear at the top of the list. It is a privilege to be able to recognise the contribution he has made to the international accountancy profession as the first international recipient of the outstanding achievement award."
In accepting his award from the ICAEW, Mr. Parekh said:
"It is an absolute honour. I am overwhelmed and delighted to be the first international recipient of this prestigious award. I have always been passionate about finance & accountancy and nothing can be more gratifying than receiving my maiden award in this field from my alma mater, the Institute of Chartered Accountants in England & Wales. I owe my solid foundation in this complex subject to the training and guidance provided by the Institute. I have perhaps been able to contribute in some measure due to the unrelenting support of my peers and colleagues and recognition of this is indeed reassuring."
He joined HDFC in a senior management position in 1978, was inducted as a full-time director of the Corporation in 1985 and was appointed Chairman in 1993.
A renowned Indian business personality and a specialist in the world of finance, he has been a member of various Committees set up by the Government of India.
Mr. Parekh has also won several awards including Businessman of the Year 1996 (Business India), the JRD Tata Corporate Leadership Award from the All India Management Association (AIMA) in 1997, was chosen as the 'Best Non-Executive Director - 2006' by the Asian Centre for Corporate Governance in recognition of his leadership on the board of several large companies and was the youngest recipient of the prestigious Corporate Award for Life Time Achievement by The Economic Times in 2006.
He was also conferred "Padma Bhushan" in 2006 by the Government of India, one of its highest civilian honours. He has been dubbed as one of the 'Stars of Asia' by Business Week, listed as one of the top 25 most influential people in business and finance across Asia-Pacific by Asia Money and awarded the prestigious Lifetime Achievement Award by Finance Asia in 2008. He was also recognised for his work in the areas of philanthropy and social commitment by the American India Foundation in 2007.
The award will be presented at the ICAEW Annual Dinner at Chartered Accountants' Hall in London on 2 March 2010.
Martin Hagen, President of the ICAEW, commented: "I extend my warmest congratulations to Deepak Parekh for winning the Institute's most prestigious award. It is a reflection of the truly global reach of the ICAEW with over 15,000 of our members living and working outside the UK. I hope that the news of Mr. Parekh's recognition will encourage more young aspiring accountants based around the world to seriously consider training for the ACA, one of the few truly global chartered accountancy qualifications available today."
PHOTO: Jpeg photograph of Mr Deepak Parekh attached. Copies can also be downloaded from the ICAEW Press Office on Flickr: http://www.flickr.com/photos/icaewpressoffice/4293228662/.
Notes to editors:
1. Deepak Parekh
After attending St Xavier's College in Mumbai for a Bachelor of Commerce degree from Bombay University and obtaining his Chartered Accountancy qualification in England, Deepak Parekh began his career with Ernst & Young Management Consultancy Services in New York. After returning to India, he worked with Grindlays Bank and also Chase Manhattan Bank as its assistant representative for South Asia before joining HDFC Ltd in 1978.
Besides the HDFC Group Companies, Mr. Parekh is on the board of several leading corporations across diverse sectors. He is the Non-Executive Chairman of GlaxoSmithKline Pharmaceuticals, Infrastructure Development Finance Company (IDFC), Lafarge India and Siemens India Ltd. He is also on the Indian boards of Castrol BP India, Hindustan Unilever, Mahindra & Mahindra, Indian Hotels Company Limited and international boards of SingTel (Singapore) and WNS (USA).
Mr. Parekh was also nominated by the Civil Aviation Ministry to the Board of Airports Authority of India. It is this quality of a trouble-shooter that makes him a guiding force and an active member of various high-powered Economic Groups, Government-appointed Advisory Committees and Task Forces.
Some of his roles include:
-- Membership of a high level committee constituted in 2010 by the Government of India to make recommendations on the issues regarding the deteriorating financial health and competitiveness of BSNL.
-- Investment Commission for advice on FDI policies and procedures to attract higher foreign investment in India.
-- Expert Group for recommending investment norms for New Pension Scheme (NPS) launched by the Pension Fund Regulatory & Development Authority.
-- High Level Task Force on affordable housing;
-- Member of the Audit Advisory Board constituted by the Comptroller & Auditor General of India (C&AG);
-- Task Force on Infrastructure constituted by the Prime Minister's Office with the aim of attracting investments in specific projects of national and regional importance, and ensuring timely completion;
-- Chairman of the Expert Committee constituted by the Ministry of Power to look into the reform efforts in the power sector
-- Chairman of the Advisory Group formed by The Reserve Bank of India for Securities Market Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries.
He was named one of the Government- appointed Independent Directors of the troubled IT company Satyam Computer Services in January 2009 and he was also Chairman of the high level expert committee formed to recommend measures for strengthening the Unit Scheme - 1964.
2. The ICAEW Award for Outstanding Achievement is made every year to a member of the Institute of Chartered Accountants in England & Wales in recognition of an outstanding contribution in any field of endeavour. It was introduced in 1980 by the four Founding Societies who originally came together to form the Institute. The selection committee is made up of Founding Society representatives, captains of industry and other public figures.
3. The selection committee of the Outstanding Achievement award is made up of representatives of the Founding Societies, captains of industry and other public figures.
4. As a world leading professional accountancy body, the Institute of Chartered Accountants in England and Wales (ICAEW) provides leadership and practical support to over 135,000 members in more than 160 countries, working with Government, regulators and industry in order to ensure the highest standards are maintained.
Our members provide financial knowledge and guidance based on the highest technical and ethical standards. They are trained to challenge people and organisations to think and act differently, to provide clarity and rigour, and so help create and sustain prosperity. The ICAEW ensures these skills are constantly developed, recognised and valued.
Because of us, people can do business with confidence.
5. The ICAEW is a founding member of the Global Accounting Alliance with over 700,000 members worldwide.
To view the photograph, click the link below:
Mr. Deepak Parekh, winner of the 2010 ICAEW Outstanding Achievement Award
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/PIC1(83).jpg
PIC1(83).jpg
CONTACT DETAILS
Sonia Kenson, ICAEW press office, 0207 920 8837, sonia.kenson@icaew.com
KEYWORDS
CONSUMER, PEOPLE, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, CONSTRUCTION, REAL ESTATE
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