Joint non-executive chairman
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.