Mr. Analjit Singh

Founder & Chairman of The Max Group

Mr. Analjit Singh is the Founder & Chairman of The Max Group, a $5-bn Indian multi-business enterprise, with interests in life insurance (Max Life), real estate (Max Estates), senior living (Antara). The Max Group is renowned successful joint ventures with some pre-eminent firms including Mitsui Sumitomo & Toppan, Japan; New York Life Insurance Company; Bupa Plc, Life Healthcare, SA; DSM, Netherlands, Hutchison Whampoa; Motorola, Lockheed Martin, and others.

Amongst privately held family businesses, Mr. Analjit Singh is the founder of Leeu Collection, a group of leisure boutique hotels in Franschhoek, South Africa; The Lake District, UK; and soon to be opened in Florence, Italy. The Leeu Collection also includes a significant presence in wine and viticulture through Mullineux Leeu Family Wines in SA.

Mr. Singh was awarded the Padma Bhushan, India’s second highest civilian honour, by the President of India in 2011. An alumnus of The Doon School and Shri Ram College of Commerce, University of Delhi, Mr. Analjit Singh holds an MBA from the Graduate School of Management, Boston University. He has been conferred with an honorary doctorate by Amity University. He is serving as the Honorary Consul General of the Republic of San Marino in India.

He served as a Director on the Board of Sofina NV/SA, Belgium. And till August 2018, he was the non-executive Chairman of Vodafone India.

Mr. Singh is a member of the Founder Executive Board of the Indian School of Business (ISB), India’s top ranked B-School and has served as Chairman of the Board of Governors of The Indian Institute of Technology and The Doon School.  Mr. Singh has served on the Prime Minister’s Indo US CEO and Indo UK CEO Council. 

He has been felicitated by Senator Hillary Clinton, former US Secretary of State, on behalf of the Indian American Centre for Political Awareness for his outstanding achievement in presenting the international community with an understanding of a modern and vibrant India and for creating several successful joint ventures with leading American companies and promoting business ties with the USA.

He has been honoured with the Ernst and Young Entrepreneur of the Year Award (Service Category) and the Golden Peacock Award for Leadership and Service Excellence. In 2014 he was awarded with Spain’s second highest civilian honour, the Knight Commander of the Order of Queen Isabella, and the Distinguished Alumni Award from Boston University.

Mr. Jai Arya

Independent Director

Singapore-based Mr. Jai Arya is a distinguished professional with a wealth of experience in the financial sector and academia. He serves as the Senior Adviser to the Dean of the NUS Business School, Asia’s leading business school. He is also an independent director on the boards of The Official Monetary and Financial Institutions Forum (OMFIF)- a UK-based research consultancy, Axis Max Life Insurance Company Limited, and Max Financial Services Ltd.

Mr. Arya has also held roles as a Senior Adviser for Asian banking to a global consultancy firm and consulted on projects for the Asian Development Bank. His extensive career in banking includes 27 years with Bank of New York Mellon and 10 years with Bank of America, working in multiple countries. At BNY Mellon, he served as an Executive Vice President and global head of business with sovereign institutions, as well as being a member of the bank’s Global Operating Committee and Asia Executive Committee. His earlier responsibilities included overseeing Asia client relationships and managing Asian country offices.

Mr. Arya holds an MBA from the Faculty of Management Studies, Delhi University, and a BA (Honours) in Economics from St. Stephen’s College, Delhi University.

Sir Richard Stagg

Independent Director

Sir Richard Stagg holds several prominent positions including Chairman of the JP Morgan Asian Growth and Income Investment Trust, Warden of Winchester College, and Trustee of the School of Oriental and African Studies (SOAS) in London. He served as Chairman of Rothschild India from 2015 to 2022.

Prior to his role at Rothschild, Sir Richard had a distinguished career in the UK Foreign Service from 1977 to 2015. His notable postings included serving as the British High Commissioner in Delhi and the British Ambassador in Kabul. From 2003 to 2007, he was the Chief Operating Officer of the Foreign Office, overseeing the global network of Embassies and Consulates. Additionally, from 2007 to 2017, he was the Chairman of FCO Services, a public sector unit providing secure services to the UK and foreign governments.

Sir Richard holds a Master of Arts in History from Oxford University.

Mr. Hideaki Nomura

Non-Executive Director

Mr. Hideaki Nomura is a Director on the board of the Company and held the position of Director of the Axis Max Life Insurance Company Limited with effect from June 27, 2012, until December 8, 2020. He is also a Deputy Chairman and Director of BOCOM MSIG Life in China, a Commissioner of MSIG Life Insurance Indonesia, a Special Advisor of the Asian Life Insurance Business Department of Mitsui Sumitomo Insurance Co., Ltd in Japan, and a Special Advisor of the International Business Planning Department of MS&AD Insurance Group Holdings, Inc. He has 38 years of experience in financial industries including insurance, banking, and investment banking.

In his tenure with Mitsui Sumitomo Insurance., Ltd. (“MSI”) for 26 years, he steered and supervised the international life insurance business as a shareholder. He also took a strategic role in helping the company expand into international insurance businesses by analyzing, structuring, and valuating M&A transactions, such as BOCOM Life in China, Sinarmas Life in Indonesia, Hong Leong Assurance in Malaysia, Hong Leong Takaful in Malaysia, Ceylinco Insurance in Sri Lanka, Mingtai Insurance in Taiwan, etc. He was also in charge of establishing new businesses, such as an Annuity Joint Venture with Citigroup (currently Mitsui Sumitomo Primary Life), a defined contribution business, and a mutual fund business.

Prior to joining MSI, he spent 12 years in Nippon Credit Bank (currently Aozora Bank) and its investment banking subsidiary in London, where his roles were bond trading, fixed income market analysis, financial derivatives sales, credit analysis, and providing loans to corporations.

He holds an MBA from the Graduate School of International Corporate Strategy, Hitotsubashi University, Tokyo, completed his exchange program from Anderson Business School at the University of California, Los Angeles, and has a BA in Economics from Keio University, Tokyo.

He is a Chartered Member of the Securities Analysts Association of Japan and a Certified Financial Planner granted by the Japan Association for Financial Planners.

Mr. Mitsuru Yasuda

Non-Executive Director

Mr. Mitsuru Yasuda is a General Manager of the Asian Life Insurance Business Dept. of Mitsui Sumitomo Insurance Co. Ltd. (“MSI”). He is also a Director of Hong Leong Assurance and Hong Leong MSIG Takaful, both of which are MSI’s Malaysian Investees. He holds a Japanese CPA license and has more than 25 years of experience in the life insurance business, M&A advisory business, and audit business.

He joined MSI in 2015 and took on a supervisory role in MSIG Life Insurance Indonesia, MSI’s Indonesian subsidiary, until he was appointed as a Director of Axis Max Life Insurance Co. Ltd. on July 24, 2020. His responsibilities in MSIG Life included sales channel & product portfolio management, budget & profit management, risk management, and so forth.

Prior to joining MSI, Mr. Yasuda spent 12 years with Deloitte in its M&A services function in both Tokyo and New York. During his tenure, he provided accounting and tax advice as well as valuation support to his clients, including both life and non-life insurance companies. He also spent 4 years with E&Y Tokyo in its audit function before joining Deloitte.

Ms. Malini Thadani

Independent Director

Ms. Malini Thadani has an extensive educational background and significant professional experience spanning multiple decades and industries. She has completed a Diploma Programme for Non-Executive Directors conducted by the Financial Times in Hong Kong, a Programme in Social Entrepreneurship from INSEAD in Paris, France, and a Certificate of Public Administration from Ohio University, USA. Additionally, she completed the Cycle Special Étranger at the Ecole Nationale d’Administration in France. Her academic credentials include a Master’s Degree in Arts from Ohio University, a Master’s Degree in History from Hindu College, University of Delhi, and a Bachelor’s degree in History from Lady Shri Ram College, University of Delhi. Ms. Thadani’s professional journey encompasses two successful careers over 40 years: one in the Indian Revenue Service and another at HSBC in India and Hong Kong. At HSBC, she served as the Head of Sustainability, Asia, and held leadership roles in communications, sustainability, CSR, and public affairs. Before her tenure at HSBC, she held leadership positions within the Indian Revenue Service from 1980 to 1995.

Currently, Ms. Thadani serves as an Independent Director, Trustee, Advisor, and Visiting Faculty with various entities. She advises corporate and non-profit boards on integrating sustainability, communications, and investor relations into their strategic vision. She is skilled in designing and implementing large-scale, cross-border sustainability projects in partnership with global and regional think tanks, not-for-profits, and academic institutions. Her areas of expertise include livelihoods, employability, entrepreneurship, sustainable finance, and environmental resource security.

Ms. Thadani is recognized as a strategic advisor on sustainability and ESG for boardlevel and senior business leaders. She has held positions on international and regional boards for industry bodies and not-for-profits. Additionally, she teaches Sustainability, CSR, and ESG as a visiting faculty member at the Indian School of Development Management (ISDM).

In her corporate board roles, she has been an Independent Director for AU Small Finance Bank Limited since November 2022 and Mirae Asset Investment Managers (India) Limited since May 2020. Her contributions in the not-for-profit sector include serving on the boards of Access Development Services, Apnalaya, Shoshit Seva Sangh, Lighthouse Communities Foundation, and the Watershed Organisation Trust (WOTR).

From August 2018 to March 2024, Ms. Thadani was a Senior Advisor at FTI Consulting India, advising on strategic sustainability and ESG matters across Asia and India. She also served on the Advisory Board for the FT Board Director Programme, Asia, from February 2021 to May 2023.

Her previous experience includes significant roles at HSBC, where she was Head of Corporate Sustainability, Asia, from 2012 to 2017, and held various other leadership positions in communications and public affairs since joining HSBC in 1995. Prior to her corporate career, she was an officer of the Indian Revenue Service from 1980 to 1995, where she held diverse roles including Additional Commissioner of Income Tax in Mumbai, Registrar of the National Institute of Fashion Technology (NIFT), and Assistant Commissioner of Income Tax in New Delhi.

Ms. Thadani has substantial expertise in sustainability, CSR, public affairs, business management, and risk management, making her a valuable advisor and leader in these fields.

Mr. K. Narasimha Murthy

Independent Director

Mr. K Narasimha Murthy having a brilliant Academic record, getting ranks in both CA & ICWA courses, entered the profession of Cost & Management Accountancy in 1983. Presently, he is on the Boards of Raymond Ltd., NELCO (A TATA Enterprise), Axis Finance Ltd., Max Life Pension Fund Management Ltd., Max Healthcare Institute Ltd., Raymond Lifestyle Limited, and Max Financial Services Ltd. Earlier he was associated as a Director on the Boards of National Stock Exchange of India Limited (NSE), Axis Max Life Insurance Company Limited, Oil and Natural Gas Corporation Ltd., (ONGC), IDBI Bank Ltd., LIC Housing Finance Ltd., UTI Bank Ltd., (presently AXIS Bank), Member Board of Supervision NABARD, Unit Trust of India (UTI), Infiniti Retail Limited (TATA Croma), IFCI Ltd., STCI Finance Ltd., (Formerly Securities Trading Corporation of India Ltd.,), Max Bupa Health Insurance Ltd., Max Speciality Films Ltd., AP State Finance Corporation, APIDC Ltd., etc., He was also associated as a Member / Chairman of more than 50 High-Level Government Committees both at State & Central Level. He is associated with the development of Cost & Management Information Systems for more than 175 Companies covering more than 50 Industries.

He is also a Member of the Management Accounting Committee of the Institute of Cost & Management Accountants of India.

Mr. Sahil Vachani

Non-Executive Director

Mr Sahil Vachani is the Vice Chairman and the Managing Director of Max Estates Limited. As the driving force behind Max Estates, Sahil aims to revolutionize the Indian real estate landscape by bringing in Max Group’s values of Sevabhav, Excellence, and Credibility to the sector.

Since its inception in 2016, Max Estates Ltd. has offered exceptional experiences for residential and commercial use, with utmost attention to detail, design, and lifestyle under Sahil’s leadership. With a future-forward vision to enhance the quality of life through the spaces created by the organisation, Sahil has introduced the concept of WorkWell and LiveWell in India, which caters to the holistic well-being of the users of Max Estates’ premises. This operating philosophy is centered on 9 tenets of holistic well-being across physical, emotional, social, and environmental aspects, and serves as a guiding force for the organisation. Under his guidance, the organisation has also successfully partnered with New York Life for strategic collaborations and investment. Sahil has also guided the organisation to foster partnerships with Real Estate Technology players to redefine ‘customer experience’ and ‘operational efficiency’, a first in the commercial real estate space.

Sahil’s direction has led Max Estates Ltd. to be recognised as the developer of the year by ET Now, in 2020, and has helped the developments achieve several awards across sustainability, ESG, and architecture, as well as highly credible ratings from both LEED and IGBC as a recognition of their excellent sustainability efforts. His empathetic governance has been dedicated to a continuous commitment to employee well-being and safety with a deep respect for human rights, competitive wages, and non-discrimination in hiring. Sahil was also honored with a feature in BW Disrupt’s 40 under 40 publication for his excellent work in the industry. He is also part of the YPO - Delhi Chapter.

Under Sahil’s guidance, Max Estates has achieved tremendous success, with reputed brands from various sectors choosing Max Estates’ commercial developments in a move to quality workspaces, and Max Estates’ first residential development witnessing successful prelaunch sales, a true testament to the consumers’ belief in Sahil’s vision and management.