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Rishi Khosla

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Rishi Khosla OBE (born September 1975)[1] is the CEO and co-founder of OakNorth Bank,[2] a British bank for scaling businesses.

Early life and education

Khosla was born in London, where his father earned a degree in engineering. During the early years of his life, Khosla's family moved to Delhi, India, where they lived in a small apartment with his grandparents and uncle's family.[3]

In the 1980s, Khosla's family moved back to London, where he went on to attend secondary school in South Harrow.[4] During this time, his father worked as a businessman selling construction equipment in the Middle East.[1][5]

Khosla started his GCSEs at the age of 11 and had his first A-level exams at 13.[citation needed]

In 1992, aged 17, Khosla attended University College London (UCL), where he received a BSc undergraduate degree in economics. He then received a master's degree in Accounting & Finance from The London School of Economics (LSE) where he attended on a scholarship.[3][6]

Career

After graduating from LSE, Khosla began his career at the Dutch bank ABN AMRO in 1995[5] before joining GE Capital in 1999.[7]

Prior to establishing his own company, Khosla worked for Indian steel magnate Lakshmi Mittal, where he managed a private equity venture portfolio for the Mittals that invested in fintech companies. It was during this time that Khosla became an early-stage investor in PayPal.[8]

In 2002, Khosla, alongside fellow LSE graduate Joel Perlman, launched Copal Partners, which later became Copal Amba, a financial research outsourcing business.[6] Over the next 12 years, the business was scaled to 3,000 employees and operated a total of seven service delivery centres worldwide.[9] In 2011, Moody's Corporation acquired a majority stake in Copal Partners before eventually purchasing the company in 2014.[10]

In 2015, Khosla and Perlman launched their second business together, OakNorth Bank. In March 2015, the company secured a full banking license from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA)[11], becoming the third new UK bank in over 150 years.[3]

The bank was founded with the aim to help mid-market small and medium-sized enterprises (SMEs) scale their business[7] with Alastair Newton, Research Vice President in Banking and Investment Services at Gartner, stating: "OakNorth has capitalised from a gap in the lending that traditional banks ignored."[7]

Since 2015, Khosla has acted as the CEO of OakNorth, with his co-founder Joel Perlman acting as Senior Managing Director.[12]

Philanthropy

The Rishi and Milan Khosla Foundation is a private family foundation founded by Khosla and his wife. The foundation focuses on projects supporting early childhood development, female empowerment, the environment and addressing climate change, medical research and healthcare.[13][14]

In partnership with The London School of Economics (LSE), Khosla launched the ‘Mentorpreneurship Programme’. The programme aims to support the development of socially conscious businesses and inspire entrepreneurial thinking through mentorship.[15]

Since June 2021, 1,800 school children and undergraduates have participated in the programme, with 500 receiving mentoring.[16]

When interviewed by The Times, Khosla advised that entrepreneurs should seek to “build their network of mentors” after receiving mentoring from family friend and British economist Sushil Wadhwani during his time in education, and again from former Balderton Capital general partner Mark Evans when launching Copal Amba.[1][5]

Awards

In 2011, Khosla was one of the recipients of the Ernst & Young Entrepreneur of the Year Award.[17]

In 2018, Khosla was named on the Maserati 100 — a list dedicated to celebrating the positive impact entrepreneurs have on the British economy and society as a whole. The list is compiled in partnership with The Sunday Times.[18]

In the same year, Khosla was also named as "Business Person of the Year" at the 2018 Asian Achievers Awards.[19]

In 2020, Khosla was named as “Business Leader of the Year” at the ScaleUp Awards by Business Leader Magazine.[20]

In 2020, Khosla was awarded an Order of the British Empire (OBE) in Queen Elizabeth II’s New Year Honours List for services to Business.[21]

Personal Life

Khosla has been married to his wife Milan since 2000. The couple have four children together.[4]

References

  1. ^ a b c "Rishi KHOSLA personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2023-04-03.
  2. ^ "Rishi Khosla | Our Cofounder & CEO | OakNorth Bank". OakNorth. Retrieved 2023-04-03.
  3. ^ a b c Duggal, Soumya (2022-12-09). "Rishi Khosla: Those Who Think Young". Entrepreneur. Retrieved 2023-04-03.
  4. ^ a b Khosla, Rishi (2019-09-04). "Secrets of my success: Rishi Khosla, chief executive of OakNorth Bank". Evening Standard. Retrieved 2023-04-03.
  5. ^ a b c "Rishi Khosla: pioneer of challenger banking". Financial Times. 2015-05-26. Retrieved 2023-04-03.
  6. ^ a b "United Kingdom's 101 Most Impressive & Successful CEO's in the Financial Services Space - BestStartup.co.uk". 2022-05-14. Retrieved 2023-04-03.
  7. ^ a b c Cotton, Barney (2019-04-26). "The man who built a unicorn: an interview with Rishi Khosla - Business Leader News". Business Leader. Retrieved 2023-04-03.
  8. ^ Bernal, Natasha (2019-04-22). "How I turned £35k into a £650m fortune: Britain's top tech entrepreneur Rishi Khosla". The Telegraph. ISSN 0307-1235. Retrieved 2023-04-03.
  9. ^ "Copal Amba Announces Name Change to Moody's Analytics - Acuity Knowledge Partners". AcuityKP. Retrieved 2023-04-03.
  10. ^ "History of Copal Amba | Moody's Analytics". www.moodysanalytics.com. Retrieved 2023-04-03.
  11. ^ "Lord Adair Turner joins board of digital challenger bank OakNorth". Financial Times. 2015-03-09. Retrieved 2023-04-03.
  12. ^ "Empowering Entrepreneurs & Savers | Our Story | OakNorth Bank". OakNorth. Retrieved 2023-04-03.
  13. ^ "Focus Areas". Rishi and Milan Khosla Foundation. Retrieved 2023-04-03.
  14. ^ Hickey, Sophie (2021-10-16). "Launch event for GDST LEAD programme, inspiring female entrepreneurs". Girls' Day School Trust. Retrieved 2023-04-03.
  15. ^ "Mentorship". info.lse.ac.uk. Retrieved 2023-04-03.
  16. ^ Tyler, Richard. "OakNorth Bank founder offers mentoring for young entrepreneurs". ISSN 0140-0460. Retrieved 2023-04-03.
  17. ^ "UK Artificial Intelligence Industry Landscape". Aging Analytics Agency. Retrieved 2023-04-03.
  18. ^ "2018 Maserati 100: business innovators from G to K | Maserati UK". www.maserati.com. Retrieved 2023-04-03.
  19. ^ "Previous Winners". Asian Achievers Awards. Retrieved 2023-04-03.
  20. ^ Cotton, Barney (2020-06-29). "ScaleUp Awards by Business Leader winners crowned - Business Leader News". Business Leader. Retrieved 2023-04-03.
  21. ^ "New Year Honours list 2020". GOV.UK. Retrieved 2023-04-03.
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