IIHL inducts Kamal Vachani to its board of directors

IndusInd International Holdings Limited (IIHL), a Mauritius-based financial services platform promoted by the Hinduja Family, has announced the induction of Kamal Vachani to its board of directors. This strategic move aims to bolster IIHL’s representation in the Gulf Cooperation Council (GCC) region as the company accelerates its global expansion across various financial sectors. Vachani, a partner at Dubai’s Al Maya Group, brings extensive experience in the retail sector and strong ties to the GCC, aligning with IIHL’s vision to enhance its footprint in financial and para-banking services. Ashok P Hinduja, Chairman of IIHL, emphasized that Vachani’s expertise will ensure effective representation of the company’s GCC-based shareholders. IIHL has been actively pursuing strategic acquisitions to solidify its position in the BFSI (Banking, Financial Services, and Insurance) space. Notable recent acquisitions include the 100% stake in Reliance Capital Ltd. and its subsidiaries, a 60% stake in Invesco Asset Management Company’s India business, and the complete ownership of Bahamas-based Sterling Bank, now rebranded as IIHL Bank & Trust Ltd. These initiatives underscore IIHL’s ambition to become a global financial powerhouse.