Nitin Rakesh

Nitin Rakesh, an Indian-American businessman, author, and philanthropist, is currently the Chief Executive Officer and Director of Mphasis. Prior to that, Rakesh was Syntel's CEO and President,[1] as well as CEO and Managing Director of Motilal Oswal Asset Management Company Ltd., and as Chief Executive of State Street Syntel Services, a joint venture between Syntel and State Street Bank.

Nitin Rakesh
Born
New Delhi
NationalityIndian
Alma materNetaji Subhas Institute of Technology
SVKM's NMIMS
OccupationCEO of Mphasis
OrganizationMphasis
Websitewww.mphasis.com/home/corporate/executivecouncil.html

Early life and education

Rakesh grew up in a small town on the outskirts of New Delhi and was active in sports and athletics. In high school, he was a Quiz master as well as an active member in student leadership. He completed his schooling from Apeejay School, Faridabad and St. Joseph's Convent, graduating in 1989.

He moved to Delhi to earn his Bachelor of Engineering degree in Computer Science from Delhi Institute of Technology DIT (now Netaji Subhas University of Technology NSUT).[2] Rakesh completed his Master's in Management Studies from SVKM's NMIMS, Mumbai in 1995. He is an alumnus of Harvard Business School's CEO Workshop.

Career

In his early career, Rakesh worked for Unit Trust of India, setting up offshore mutual funds and a secondary Market Research Cell, Product Development and Risk Management.[3] He also worked with TCG Group, a transnational private equity and investments firm as the Head of Banking & Financial Services Sales at TCG Software Services.

From 2002 to 2008, Rakesh was employed at Syntel in various capacities. During his tenure, he founded Syntel's Business Process Outsourcing practice, building it into a significant contributor to Syntel's overall revenue.[4][5] He was named Vice President and Head of B&FS BPO Operations at Syntel in February 2006. He was promoted to Chief Executive Officer of Syntel's joint venture, State Street Syntel Services, where he led its India operations until 2008.[6]

In September 2008, he was named CEO and Managing Director of Motilal Oswal Asset Management Company Ltd., a financial services company that specializes in exchange-traded funds (ETF) and separate accounts. During Rakesh's tenure, the company was named "Most Innovative ETF, Asia Pacific" at the 2011 ETF Awards in New York,[7] and the "Most Innovative Mutual Fund, India" in 2010 at the CRISIL - S&P Mutual Fund Awards.[8]

In September, 2012, he left Motilal Oswal to become President, Americas for Syntel, where he managed Business Development and Nearshoring Center for Syntel's North American operations.[9]

He was named CEO and President of Syntel, in April 2014. He resigned Syntel on 4 November 2016 officially.[10]

Mphasis

Rakesh was named CEO and Executive Director Mphasis on 29 January 2017. He took over from Ganesh Ayyar.[11][12][13]

In the first year of taking on the mantle as the CEO of Mphasis, he introduced Mphasis’ C= X2C2 =1 TM formula for success, (hyper-personalization; drive n=1 powered by Cloud & Cognitive); driving multi-dimensions of business value with an integrated consumer-centric Front to Back Digital Transformation TM, enabling Business Operations, Technology Transformation and Service Transformation, driven by IP assets. Under Nitin's leadership, Mphasis set a record for the highest new deal wins in the history of the company, thus re-defining benchmarks and growing above industry rate.[14][15]

Early 2017, Rakesh was instrumental in the setting up of Mphasis Sparkles, an innovation lab, that offers startups a platform to showcase innovative solutions to large enterprises and incorporate such products into Mphasis solutions.

Works/Publications

Nitin Rakesh has authored a book “Transformation in Times of Crisis – Eight Principles for Creating Opportunities and Value in the Post-Pandemic World.” with Jerry Wind, an internationally renowned and award-winning academician and the Lauder Professor Emeritus and Professor of Marketing at the Wharton School, University of Pennsylvania. The book was launched virtually on 3 December 2020 and outlines 8 principles businesses can use to make the most of opportunities in the midst of crisis. The book was dedicated to the COVID-19 heroes and proceeds from the sales went to Doctors with Borders and the Mphasis F1 Foundation.[16]

Awards and recognition
  • Bronze Stevie Award for “Tech Innovator of the Year” in May 2021 by the Annual American Business Awards® 2021[17]
  • Silver Stevie Award as Best Business Book - Transformation in Times of Crisis in May 2021 by the Annual American Business Awards®
  • International Business Book of the year 2021 - Transformation in Times of Crisis in May 2021 by the Business Book Awards.[18]
  • Gold Stevie Award for Tech Innovator of the Year – Services in May 2019 by the American Business Awards & International Business Awards 2019[19]
  • Gold Stevie Award for Executive of the Year - Computer Services in May 2018 by the International Business Awards 2018, under the Management award category.[20]
  • ‘2018 Outstanding 50 Asian Americans in Business’ Award by the Asian American Business Development Center (AABDC)[21]

Boards and Committees
  • Rakesh is an active member of various institutions globally, such as:
  • US – India Strategic Partnership Forum (USISPF) driving financial services council and business relations between US and India
  • NASSCOM as Executive Council and Chair of the IT Services Council, charted to future proof IT services industry
  • Knowledge@Wharton, The Wharton School, University of Pennsylvania's advisory board, driving digital transformation discussions at grass root level
  • Wall Street Journal (WSJ) CEO Council, to debate and formulate strategies to address the biggest issues facing global business and leadership
  • Forbes Technology Council (FTC) as an industry expert and practitioner to advise Forbes’ readers globally on current as well as future technologies and trends.
  • Ashoka University as a Trustee focusing on multidisciplinary liberal education.
  • Plaksha University as a Founder and Trustee.

Personal life

Nitin and his family live in New York. He is an avid reader and Yuval Noah Harari in one of his favourite authors. His other interests also include tennis, cricket, vintage bikes, and automobiles.

References
  1. "Syntel appoints Nitin Rakesh as CEO and President". Business Standard India. 7 February 2014. Retrieved 4 February 2017.
  2. "Nitin Rakesh joins Motilal Oswal Group as CEO-Asset Mgmnt". Moneycontrol.com. Retrieved 4 February 2017.
  3. "Motilal Oswal AMC chief quits". The Hindu Business Line. 13 July 2012. Retrieved 4 February 2017.
  4. Novinson, Michael (27 January 2017). "Mphasis Taps Ex-Syntel CEO Nitin Rakesh As Next Chief Executive To Drive Digital, Automation Growth". CRN Magazine. Retrieved 4 February 2017.
  5. Kurup, Rajesh (13 March 2014). "'It's an exciting time to be in the tech business'". The Hindu Business Line. Retrieved 4 February 2017.
  6. Palande, Ravin. "Motilal Oswal: The value miners". Forbes India. Retrieved 4 February 2017.
  7. 2011 ETF Awards, Global ETF Awards.
  8. 2010 CRISIL Mutual Fund Award Winners, CNBC-TV18-CRISIL Mutual Fund Awards.
  9. "Syntel Appoints Nitin Rakesh as President". Dataquest. Retrieved 4 February 2017.
  10. Novinson, Michael (4 November 2016). "Syntel CEO Steps Down, COO Named As Interim Replacement". CRN Magazine. Retrieved 4 February 2017.
  11. "Mphasis was a jewel hidden in the HP family: new CEO". The Times of India.
  12. "Continuity in acceleration is the focus, says new Mphasis CEO Nitin Rakesh". The Economic Times. Retrieved 4 February 2017.
  13. "Mphasis to focus on continuity of biz, says CEO". Deccan Herald. Retrieved 4 February 2017.
  14. "Mphasis: Setting up for stronger growth ahead". Forbes India.
  15. "Continuity in acceleration is the focus: Mphasis CEO Nitin Rakesh". Business Standard India. 30 January 2017.
  16. "COVID gave birth to new kind of collaborations, says author Nitin Rakesh". The New Indian Express.
  17. ""Transformation in Times of Crisis" Honored as 2021 American Business Awards® "Best Business Book"". AP NEWS. 7 June 2021.
  18. "Notion Press authors Nitin Rakesh and Jerry Wind win International Business Book of the Year Award 2021". ThePrint.
  19. "Mpasis CEO wins America's premier business award". Business Standard India. 17 May 2019.
  20. "Mphasis - Executive of the Year - Computer Services". Stevie Awards.
  21. "2018 Awardees". Outstanding 50 – Asian American Business Development Center.
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