Mittal, Sarin top UK's powerful biz leaders list

Written by Agencies | London, April 30: | Updated: Apr 30 2008, 21:08pm hrs
It's not only the rich lists where persons of Indian origin are making it big in the UK they have also emerged among the most powerful businessmen of their respective sectors, led by the likes of steel tycoon Lakshmi Mittal and telecom titan Arun Sarin.

While Mittal, recently named UK's richest persons for fourth year in a row, has been identified as the fifth most powerful in the UK manufacturing business, Sarin has beaten all to grab the top slot in the 100 most powerful persons list for country's technology and telecom sector.

These are based on the top 100 business people lists currently being published by the Daily Telegraph newspaper in London. The daily is spotlighting UK's 1,000 most powerful in business and has divided it into ten sectors.

The list of top 100 for each sector is being published in a span of two weeks. So far, at least 16 persons of Indian origin have made to the various lists published so far, including half a dozen in the healthcare and chemicals sector list, released on Wednesday.

These include Necessity Supplies' co-founders Barat Mehta and Ketan Mehta at 54th and 55th position, Subhanu Saxena, head of Novartis UK, at 65th, Waymade Healthcare's founder Vijay Patel at 72nd, Jumbogate's founder Naresh Shah at 91st and Kartar Lavani, head of Vitabiotics, at 99th position.

In manufacturing business, where Mittal has been ranked fifth, another India-origin businessman Anil Agrawal, founder and Chairman of mining giant Vedanta, has been ranked 48th, while Philippe Varin, CEO of Anglo-Dutch steelmaker Corus, now part of Indian conglomerate Tata group, is at 22nd.

"Mittal is the richest man in Britain. He inherited his steel making business from his father, who made a fortune in India despite his humble roots," the daily said.

The 58-year old business head of world's largest steel maker ArcelorMittal is a Labour Party donor, and lives in the most expensive house in Britain, which he bought from Formula One supreme Bernie Ecclestone for 57 million pounds.

The publication said, "After witnessing India win only one medal, bronze, in the 2000 Olympics, and one medal, silver, at the 2004 Olympics, Indian-born Mittal set up Mittal Champions Trust with nine million dollar to support ten Indian athletes with world-beating potential."

Mittal was separately named this weekend the UK's richest in the Sunday Times Rich List for fourth straight year with a net worth of 27.7 billion pounds.

The list for tech and telecom sector, topped by British mobile giant Vodafone's CEO Arun Sarin, also includes at fourth position Nikesh Arora, internet search giant Google's Indian-origin President for Europe, Mid-East and Africa, BT Group's Group Finance Director Hanif Lalani at 22nd, and Colt Telecom CEO Rakesh Bhasin at 75th.

Terming Vodafone's Sarin as most powerful in tech and telecom sector, it said, "Indian-born Sarin survived a boardroom rumpus and a slew of shareholder dissent in 2006, but he made 2007 his year".

About Google's 40-year old Nikesh Arora, the daily said, He is one of the US firm's most senior executives outside Silicon Valley and is responsible for Google's business across 28 offices with a team of more than 2,500 people."

In the list for hedge funds, private equity and fund management industry, a senior executive at global investment banking giant Goldman Sachs, Sanjay Patel, has been ranked 19th.

Currently in his second spell at Goldman Sachs, Patel is co-head of Goldman Sachs' European private equity and Indian capital equity businesses.

Another person of Indian origin, Anshu Jain, has been named UK's third most powerful in banking and insurance, while Viswas Raghvan, investment banking major JPMorgan's head of capital markets, is at 49th position in the same list.

An economics graduate from Shri Ram College of Commerce, Delhi University, Jain heads German banking giant Deutsche Bank's global markets division.

Noting he does not even speak German, the daily said that India-born Jain has helped transform Deutsche Bank into a bond market powerhouse, generating more revenue from trading fixed income than any competitor except Goldman Sachs.

"There is no objective way to compile such a broad-based list, so it is unashamedly subjective. This is not a rich list, nor one confined to British nationals, though in the majority of cases those on it spend most of their time in the UK," the daily said.