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Foundation Holdings appoints five new executives

The firm launched a joint venture with Bloom Holding in February, and aims to invest more than $272.2m (AED1bn) in the UAE

Foundation Holding has appointed five new senior executives to its team.
Foundation Holding has appointed five new senior executives to its team.

Foundation Holdings, an investment firm, has announced the appointment of five new senior executives as the firm continues to expand its investment portfolio in India and the GCC.

This step follows the firm’s set plan of investing $544.5m (AED2bn) in the region over the next five years, according to a company statement.

The new appointments include Tharshan Wijey as chief financial officer, Karan Yadav as chief strategy officer, Aakash Sachdev as managing director (India), Parvati Banati as managing director – asset management and Phil Garrison as managing director – operations.

Abhishek Sharma, Foundation Holdings’ chief executive officer, said: “I am delighted to welcome our new, highly talented, and accomplished business leaders as we continue to expand the Foundation team.  

Tharshan Wijey, joins Foundation Holdings after beginning his career with Morgan Stanley (Australia and Singapore).

Having spent the last decade in the GCC defining healthcare and education businesses, Wijey will develop Foundation Holdings’ long term financial planning and investment portfolio.

Karan Yadav, a former senior executive at Philips Lighting, Middle East, has also spearhead initiatives such as the Cleveland Clinic Abu Dhabi (CCAD).

Yadav will be responsible for developing and executing the long-term business strategy as well as expanding the business and market reach.

The firm’s focus on the fast-growing $2.5tn Indian market, is led by Aakash Sachdev. Responsible for building, managing and growing the business in India, Sachdev has fourteen years of experience in financing and investing in private and public companies.

In February this year, the firm launched a joint venture with Bloom Holding, an Abu Dhabi-based real estate developer, aimed at investing more than $272.2m (AED1bn) within the UAE. 

Foundation Holdings’ new strategic initiative welcomes Parvati Banati as a managing director – asset management. Banati was the former managing director and head of investment banking coverage and advisory, South East Asia at Deutsche Bank, Singapore and led the transformative initial public offering of IHH Healthcare.

She will be joined by Phil Garrison who enjoys more than 40 years of experience in international businesses, including various positions held with Caltex Petroleum.

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Construction Week - Issue 745
Jun 30, 2019