Reserve Bank of India’s Bharat Doshi joins LeapFrog council
Mumbai, India, August 10, 2020: LeapFrog Investments, the Profit with Purpose investment firm whose companies now reach 200 million people, has appointed Bharat Narotam Doshi to its global leadership council. Doshi’s distinctive vision and expertise will guide LeapFrog’s leadership team as it makes further investments in companies across India and other emerging markets. LeapFrog aims for its companies to reach one billion people with essential services by 2030.
Bharat Doshi brings unique capabilities to the role after completing his four-year term on the central board of directors of the Reserve Bank of India. Prior to this, Doshi played a pivotal 40-year role at Mahindra Group where he was executive director, chief financial officer, and Apex Team member working with both Keshub Mahindra and Anand Mahindra. Its 150 companies now operate across 100 countries, employing 250,000 people.
During his tenure, Doshi led the conceptualisation and establishment of Mahindra Finance and served as chairman of Mahindra & Mahindra Financial Services Ltd. Doshi was also president of Bombay Chamber of Commerce and Industry and served on expert committees for the Securities and Exchange Board of India and Ministry of Finance of India.
LeapFrog’s partnership with Doshi spans a decade, through his commitment to making affordable health, life and asset insurance available to underserved households in rural India. LeapFrog invested in Mahindra Insurance Brokers Ltd in 2012, which serves this demographic, and has since become one of the country’s largest and most-trusted insurance brokers. Doshi also serves as an independent director on the board of multinational pharmaceutical company, Dr Reddy’s Laboratories.
Bharat Doshi, LeapFrog global leadership council member, said: “I have always shared LeapFrog’s deep-rooted vision of Profit with Purpose and admired its dedication to demonstrating a better kind of business. As financial inclusion for all is my passion I am honoured to support LeapFrog’s board and leadership team in their mission to reach one billion people with essential services by 2030. This is a group that brings vast expertise and capital to purpose-driven businesses, which then deliver financial services and healthcare at scale. LeapFrog has achieved significant social impact and business success here in India, yet I am convinced its greatest impacts and successes lie ahead.”
Bharat Doshi will serve on LeapFrog’s global leadership council alongside:
- Julia Gillard, former prime minister of Australia
- Henri de Castries, former chairman and CEO of AXA
- Simon Israel, former chairman of Singtel
- Jaime Augusto Zobel De Ayala, chairman and CEO of Ayala Corporation
Dr Andy Kuper, founder and CEO of LeapFrog investments, said: “Bharat Doshi has built and guided one of South Asia’s greatest financial services companies and its subsidiaries. To date, LeapFrog’s portfolio companies have reached 102 million underserved people in India with essential services, helping households secure their health and wealth. No one is better positioned to help us expand on this commercial success and profound impact than Doshi, the exemplar of inclusive finance.”
NOTES TO EDITORS
About LeapFrog Investments
LeapFrog invests in exceptional businesses in Africa and emerging Asia, partnering with their leaders to achieve leaps of growth, profitability and impact. Founded in 2007, LeapFrog’s companies now reach 205 million people across 35 countries with healthcare or financial services. LeapFrog companies have also grown on average at more than 30 per cent a year from the time of investment. LeapFrog companies reach 164 million emerging consumers, living on less than $10 per day. LeapFrog’s companies now provide jobs or livelihoods to more than 128,000 people. Inspired by LeapFrog’s strategy of Profit with Purpose, global institutional investors have committed $US1.6 billion ($A2.2 billion) to the group’s private equity funds. LeapFrog was ranked by Fortune as one of the top five companies to change the world, alongside Apple and Novartis, becoming the first private investment firm ever listed.