| Rashesh Shah | |
| Education: | Bachelor of Science degree in statistics, KC College MBA, Indian Institute of Management Ahmedabad, 1989 |
| Occupation: | Finance |
| Known For: | Financial Advisor |
| Birth Date: | 30 September 1963 |
| Spouse: | Vidya Shah |
| Children: | 2 |
Rashesh Shah (born 30 September 1963) is an Indian businessman and the chairman and CEO of the Edelweiss Group, one of India's leading diversified financial services conglomerates.[1] He is also the co-founder of Edelweiss Financial Services Limited (EFSL).[2]
Rashesh Shah was a student of Bharatiya Vidya Bhavan and Manav Mandir High School of Mumbai. He completed a Bachelor of Science degree in statistics from KC College, Mumbai and spent a year studying exports at Indian Institute of Foreign Trade (IIFT).
After that, he completed his MBA from Indian Institute of Management (IIM), Ahmedabad in 1989, and, upon graduation he joined ICICI.[3]
Born in a Gujarati family, Rashesh Shah was the first in his family to attend an English-medium school.[4] He is married to Vidya Shah, CEO of EdelGive Foundation, whom he met during their time at IIM.[5] The couple has two children: Neel, born in 1995, and Avanti, born in 2000.[6] [7]
Rashesh Shah has over 28 years of experience in the financial markets sector. He left his position at Prime Securities to co-found Edelweiss with Venkat Ramaswamy.[8] The company was established in November 1995 and began operations in February 1996. Due to an inability to meet SEBI's capital requirement of ₹5 crore, Shah and Ramaswamy adjusted their business plan, focusing on private equity syndication, mergers and acquisitions (M&A), and advisory services. They started with a small office in Mumbai's Fountain area, employing just three people.
In 2000, the 10-employees company crossed a capital mark of and became a Category-1 merchant bank.Currently, Rashesh and Vidya Shah hold nearly 27% stake in Edelweiss. The company has an asset base of and net worth of .[9] Besides, Rashesh Shah has worked as a member of the executive committee of the National Stock Exchange (NSE) and the Stock Exchange Board of India (SEBI). He reviewed Insider Trading Regulations at SEBI. He has also held the chair of the National Council on Capital Markets formed by Associate Chambers of Commerce and Industry of India (ASSOCHAM)[10]
He has served as the President of Federation of Indian Chambers of Commerce and Industry (FICCI)[11] in 2017–18.
A regular commentator on macro-economic policies, development matters and financial markets in the mainstream and financial media, Rashesh is a part of the High Level Task Force on Public Credit Registry for India as well as the Insolvency Law Committees.[12]
In January 2020, the Enforcement Directorate issued summons to Edelweiss Group and Shah to join a case involving an alleged Rs 2,000 crore violation of FEMA provisions. This pertains to Mumbai-based Capstone Forex Pvt Ltd.[13] Rashesh Shah has rejected allegations of FEMA violations.[14]
He is also deeply involved in EdelGive Foundation, Edelweiss's philanthropy arm, which was set up in 2008 by his wife Vidya, with an aim to provide expertise of financial sector to the not-for-profit sector.