Page 38 - Connect 2 Impact Souvenir Flip Book

Speaker Profile

Guest Speaker

Mr. M Damodaran
Former Chairman - SEBI &
Chairperson Excellence Enablers

Meleveetil Damodaran is a governance consultant, advisor, mentor and coach. He was Advisor and Chief
Representative in India for the ING until May 2019. He is the founder and Chairperson of Excellence Enablers Private
Limited, a corporate governance advisory firm. He served as the Chairman of the Securities and Exchange Board of
India (SEBI), India’s financial markets regulator, from February, 2005 to February, 2008. Prior to this, he served Head
of IDBI, a development finance institution which he converted to a bank. He was also Chairman of Unit Trust of India,
then India’s largest mutual fund from July, 2001 to December, 2004. He belongs to the Indian Administrative Service,
Manipur-Tripura cadre, which is the administrative civil service of the Government of India. Damodaran also served as
Joint Secretary of the Banking Division of the Indian Ministry of Finance for five years.
He began his career in the Indian state of Tripura, where he served in different developmental and regulatory
positions. He was appointed Tripura’s Chief Secretary in 1992, when he became the youngest person ever in India to
hold such a position in a State Government.
In 2001, Meleveetil Damodaran was appointed the Chairman of Unit Trust of India (UTI) to rescue India’s largest and
oldest investment institution, which had collapsed. He restored UTI to health in arguably the most successful
turnaround stories in Indian financial sector history. He was simultaneously given charge of Industrial Development
Bank of India (IDBI), another of India’s major financial institutions. Here, he created the unique Stressed Assets
Stabilisation Fund, which helped clean IDBI’s books, facilitating its conversion to a commercial bank and its merger
with another bank.
As Chairman of SEBI, Damodaran brought improved corporate governance practices to India’s securities market. He
was the Chairman of the Taskforce on Corporate Governance constituted by the Federation of Indian Chambers of
Commerce and Industry (FICCI). While at SEBI, he was elected Chairman of the Emerging Markets Committee of the
International Organization of Securities Commissions (IOSCO), a position he held till he demitted office as Chairman,
SEBI. Among his many contributions was the introduction of QIP, an instrument for follow on offerings which until then
was going to other markets. He was succeeded as chairman of SEBI by C.B.Bhave.
He speaks regularly at forums and high-level panels around the world and his areas of expertise include Financial
Management, Securities Markets, Corporate Governance, Public Administration and Leadership. He has been
awarded the Public Service Excellence Award (2009) by All India Management Association, the Economic Times
Award for Change Agent of the Year (2006–07), and Finance Man of the year (2004), among other distinctions.

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