Ajit Hutheesing
Encyclopedia
Ajit G. Hutheesing is the Founder, Chairman and Chief Executive Officer of International Capital Partners Inc. (ICP). ICP commenced investment activities in 1992, providing private placement equity to finance the growth of successful smaller companies. After a successful record of investments in small private and public companies, ICP is winding down its activities. Mr. Hutheesing was a member of the Greenwich Roundtable, a group of 100 invited members who collectively manage $1 Trillion plus.
, i.e. American of Indian origin. He was born in Mumbai, India into a very well known family. His mother, Krishna Nehru Hutheesing, a well-known author, was the sister of India’s first Prime Minister, Jawaharlal Nehru
. The Nehru family not only led the successful struggle for the freedom of India, but its leadership role over the past 50 years involving two other Prime Ministers, Indira Gandhi
and Rajiv Gandhi
, is legendary in India and around the world. His father was part of one of the larger industrial families in India, the Lalbhai Group; he served India as a politician, journalist and businessman.
in New York
.
In 1962, he joined S.G. Warburg & Company in London as part of his investment banking training. He returned to India in 1963 to start the first investment bank but when his cousin, Indira Gandhi
, became Prime Minister and started nationalizing banks and insurance companies, he decided to leave India. Following the advice and introduction of Sir Siegmund Warburg, Chairman of S.G. Warburg & Company, he joined the International Finance Corporation (IFC), the private sector investment banking arm of the World Bank in 1965. He spent 10 years at IFC during most of which he headed IFC’s investment activities in the southern cone countries of South America. In 1972 he became the youngest director of IFC (at that time) heading the department responsible for management, syndications and dispositions of its rapidly growing equity and loan portfolios representing over 200 investments worldwide and valued in 1975 at $900 million.
In 1975, at the invitation of an old friend, Mr. James D. Wolfensohn, then President and CEO of Schroders USA (ex-President of the World Bank), Ajit joined J. Henry Schroder Corporation (JHSC), New York, as its Managing Director and as Director of Schroder International. JHSC was the investment banking arm of Schroders PLC in the U.S. Its main activities were M&A, private placements and managing a venture capital pool. Ajit spent considerable time in Brazil developing business for Schroders. He was named Vice Chairman of J. Henry Schroder Corporation in 1982.
He joined The Sherwood Group, New York, in 1986 as Chairman to help the company raise substantial new capital and to build its corporate finance capabilities. Sherwood (later National Discount Brokers bought by Deutsch Bank) was one of the major wholesale market maker
s in the over-the-counter market and an underwriter and distributor of securities to the retail sector of the investment industry. While at Sherwood, Ajit was the only non-American Chairman of a Wall Street investment banking and securities trading company. Upon the death of the founder and majority shareholder, Ajit presided over the sale of Sherwood and left the company in February 1988, to start ICP.
Currently, Ajit is committed to utilizing his connections in and knowledge of India and the United States to build both philanthropic and business bridges between these countries. On the investment front, his interest is to bring private equity capital to India from the United States and to eventually channel capital from high net worth families in India to the United States.
, a violinist in 1996. Ms. Armstrong, was the founder and artistic director of Armstrong Chamber Concerts in Washington, Conn and a graduate of the Juilliard School of Music, from which she also received a master's degree. Helen died on 28 April 2006 in Greenwich, CT at the age of 63.
Family
Mr. Hutheesing is an Indian AmericanIndian American
Indian Americans are Americans whose ancestral roots lie in India. The U.S. Census Bureau popularized the term Asian Indian to avoid confusion with Indigenous peoples of the Americas who are commonly referred to as American Indians.-The term: Indian:...
, i.e. American of Indian origin. He was born in Mumbai, India into a very well known family. His mother, Krishna Nehru Hutheesing, a well-known author, was the sister of India’s first Prime Minister, Jawaharlal Nehru
Jawaharlal Nehru
Jawaharlal Nehru , often referred to with the epithet of Panditji, was an Indian statesman who became the first Prime Minister of independent India and became noted for his “neutralist” policies in foreign affairs. He was also one of the principal leaders of India’s independence movement in the...
. The Nehru family not only led the successful struggle for the freedom of India, but its leadership role over the past 50 years involving two other Prime Ministers, Indira Gandhi
Indira Gandhi
Indira Priyadarshini Gandhara was an Indian politician who served as the third Prime Minister of India for three consecutive terms and a fourth term . She was assassinated by Sikh extremists...
and Rajiv Gandhi
Rajiv Gandhi
Rajiv Ratna Gandhi was the sixth Prime Minister of India . He took office after his mother's assassination on 31 October 1984; he himself was assassinated on 21 May 1991. He became the youngest Prime Minister of India when he took office at the age of 40.Rajiv Gandhi was the elder son of Indira...
, is legendary in India and around the world. His father was part of one of the larger industrial families in India, the Lalbhai Group; he served India as a politician, journalist and businessman.
Education
Ajit was educated at Cambridge University in England where he received his Bachelor's Degree in Chemistry, Physics, Metallurgy and Mathematics and his Master's Degree in Chemical Engineering. He received his MBA from Columbia UniversityColumbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
.
Career
Ajit was one of the first Indians in Wall Street when he started his investment banking career in 1960 with Loeb, Rhoades & Co.Loeb, Rhoades & Co.
Loeb, Rhoades & Co. was a Wall Street brokerage firm founded in 1931 and acquired in 1979 by Sanford I. Weill's Shearson Hayden Stone. Although the firm would operate as Shearson Loeb Rhoades for two years, the firm would ultimately be acquired in 1981 by American Express to form Shearson/American...
In 1962, he joined S.G. Warburg & Company in London as part of his investment banking training. He returned to India in 1963 to start the first investment bank but when his cousin, Indira Gandhi
Indira Gandhi
Indira Priyadarshini Gandhara was an Indian politician who served as the third Prime Minister of India for three consecutive terms and a fourth term . She was assassinated by Sikh extremists...
, became Prime Minister and started nationalizing banks and insurance companies, he decided to leave India. Following the advice and introduction of Sir Siegmund Warburg, Chairman of S.G. Warburg & Company, he joined the International Finance Corporation (IFC), the private sector investment banking arm of the World Bank in 1965. He spent 10 years at IFC during most of which he headed IFC’s investment activities in the southern cone countries of South America. In 1972 he became the youngest director of IFC (at that time) heading the department responsible for management, syndications and dispositions of its rapidly growing equity and loan portfolios representing over 200 investments worldwide and valued in 1975 at $900 million.
In 1975, at the invitation of an old friend, Mr. James D. Wolfensohn, then President and CEO of Schroders USA (ex-President of the World Bank), Ajit joined J. Henry Schroder Corporation (JHSC), New York, as its Managing Director and as Director of Schroder International. JHSC was the investment banking arm of Schroders PLC in the U.S. Its main activities were M&A, private placements and managing a venture capital pool. Ajit spent considerable time in Brazil developing business for Schroders. He was named Vice Chairman of J. Henry Schroder Corporation in 1982.
He joined The Sherwood Group, New York, in 1986 as Chairman to help the company raise substantial new capital and to build its corporate finance capabilities. Sherwood (later National Discount Brokers bought by Deutsch Bank) was one of the major wholesale market maker
Market maker
A market maker is a company, or an individual, that quotes both a buy and a sell price in a financial instrument or commodity held in inventory, hoping to make a profit on the bid-offer spread, or turn. From a market microstructure theory standpoint, market makers are net sellers of an option to be...
s in the over-the-counter market and an underwriter and distributor of securities to the retail sector of the investment industry. While at Sherwood, Ajit was the only non-American Chairman of a Wall Street investment banking and securities trading company. Upon the death of the founder and majority shareholder, Ajit presided over the sale of Sherwood and left the company in February 1988, to start ICP.
Currently, Ajit is committed to utilizing his connections in and knowledge of India and the United States to build both philanthropic and business bridges between these countries. On the investment front, his interest is to bring private equity capital to India from the United States and to eventually channel capital from high net worth families in India to the United States.
Personal life
Ajit Hutheesing was married first to Amrita Hutheesing and has three sons. He also has three grand children. His marriage of 24 years ended in divorce and 12 years later he was married to Helen ArmstrongHelen Armstrong (violinist)
Helen Armstrong was the founder and artistic director of , a non-profit, chamber music organization she founded in 1984. The creation and development of ACC was inspired by Avery Fisher and Skitch Henderson, who advised Ms...
, a violinist in 1996. Ms. Armstrong, was the founder and artistic director of Armstrong Chamber Concerts in Washington, Conn and a graduate of the Juilliard School of Music, from which she also received a master's degree. Helen died on 28 April 2006 in Greenwich, CT at the age of 63.
Further reading
- With No Regrets - An Autobiography, by Krishna Nehru Hutheesing, Published by READ BOOKS, 2007. ISBN 1-4067-7661-0.
External links
- Ajit Hutheesing, Helen E. Armstrong at New York Times.