Date:21/04/2007 URL: http://www.thehindubusinessline.com/2007/04/21/stories/2007042105090200.htm

Singhvi: `I enjoyed good relationship with Holcim'

Kripa Raman
N K Kurup

His 21-year association with Ambuja Cement ends

"I have enjoyed a very good relationship and continue to enjoy a very good relationship with Holcim."

MR ANIL SINGHVI

Mumbai April 20 "Life must move on," said Mr Anil Singhvi, who will be leaving Ambuja Cements Ltd in the next seven days after a 21-year stint with the company.

Mr Singhvi, 46, joined the company as Deputy Manager, Finance and rose to become Managing Director.

"I joined the company even before the first plant was built. I have seen it grow from a 0.7 million tonne plant to a 17 million tonne plant," he said.

On whether Holcim did not persuade him to continue at the helm of affairs at Ambuja, at a time when consolidated large companies in India are seeking to expand their footprint, Mr Singhvi said: "The point is, leaving should always be when it is `why', not `why not'."

"The point is, I did not want to retire," he added, in a lighter vein. "I have enjoyed a very good relationship and continue to enjoy a very good relationship with Holcim, but I think it is an important factor in life to understand what one's capabilities are to go even further."

"In Ambuja my contribution would have been more organisational than seeing that I make a personal contribution to growth. I want to see the fruits of my personal efforts, and want the excitement and challenge of starting on something with a low base and growing it, like Ambuja."

"So it is a very happy feeling, it is like getting a daughter married. You miss your daughter, but you are happy that she has got a good groom. It is exactly like what happens with a bride's father."

Mr Singhvi goes on to head I-Can Investment Advisors, a joint venture with Swiss based asset management company Notz Stucki which holds 49 per cent stake. Mr Singhvi and other employees own the majority stake.

Financial services are a very different cup of tea from manufacturing, agreed Mr Singhvi.

Advisory Functions

"My passion always has been financial services. I feel and I believe rightly so that it continues to be the most exciting area." I-Can provides investment advice to Notz Stucki and its their clients for their interests in India. "But we want to further this initiative by looking at private equity and other boutique investments. "We will look at advisory functions for investments in listed, unlisted, private equity, venture capital and real estate," said Mr Singhvi. I-Can currently has close to $400 million under advisory in India.

The Ambuja group itself initially had interests in I-Can, and Mr Singhvi has been on its board for 14 years now. Mr Singhvi said he would have time for his personal interests. He plays tabla and has often been on stage at the institute where he learns the instrument. Also, he will find more time for the orphanage that he supports and which has 550 children being looked after at five different centres in the country.