BR Shetty

Joint non-ex­ec­u­tive chair­man NMC Health­care Health­care $2.45bn

Arabian Business English - - RICHEST INDIANS IN THE UAE -

ONE OF THE UAE’S MOST pro­lific busi­ness­men, BR Shetty this year un­veiled Fin­ablr, a new hold­ing com­pany for his busi­nesses in­clud­ing Xpress Money, Trav­elex Hold­ings and UAE Ex­change.

Based in the UK, the com­pany em­ploys over 18,000 peo­ple, han­dles more than 150 mil­lion trans­ac­tions, has a di­rect pres­ence across 45 coun­tries, and reaches cus­tomers in 165 coun­tries. With plans to pur­sue up to $300m in ac­qui­si­tions and strate­gic in­vest­ments, Fin­ablr will aim to grow its share of the mar­ket for re­mit­tances – worth $466bn in 2017, ac­cord­ing to the World Bank. The com­pany has said it is pre­par­ing for a Lon­don IPO, but has not yet com­mit­ted to a time­line.

The lat­est chap­ter in Shetty’s sto­ried ca­reer comes af­ter NMC Health, the com­pany he founded in the UAE in 1975, has be­come the largest health­care provider in the GCC. One of the largest com­pa­nies on the UK’s FTSE 100, the health­care provider has $2bn that it plans to use “to ac­quire com­pa­nies as and when we can get them,” Shetty said in an in­ter­view.

Shetty’s busi­ness in­ter­ests range be­yond health­care and fi­nan­cial ser­vices, how­ever. He also has in­vest­ments in hos­pi­tal­ity, food and bev­er­age, phar­ma­ceu­ti­cal man­u­fac­tur­ing and real es­tate.

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